FREQUENTLY ASK QUESTIONS

This FAQ uses the definition ascribed in Terms and Conditions Section# 1:
 
A. Membership
A1     What is the Setia Privilege Program?
  Setia Privilege Program (SPP) is a privilege and reward program for buyers who purchase Setia Properties and Members who successfully introduced new buyers to purchase Participating Setia Properties. The SPP comes in the form of a rebate which is given in recognition of our customers’ support and loyalty throughout the years.
   
A2 Who is eligible to become a member?
 
Any of the following person/entity who/which has purchased Setia Property(ies):
(a) Individual;
(b) Company;
(c) In the case of (b) above, each of the directors of the Company. However, only one (1) director shall be nominated and authorised by the Company (“Authorised Director”) to solely operate and deal with the Company’s SPP account and utilise the Company’s LCR Entitlement and IRP Entitlement;
(d) In the case of joint-purchase, each of the joint-purchasers.
   
A3 How do I apply to become an SPP member?
  No application is necessary if you have purchased a Setia Property. The Management will issue a confirmation of membership to every qualified purchaser after verification of purchase of the relevant Setia Property(ies), that is SPA has been executed and a sum equivalent to at least 10% of the Net Purchase Price is received by the relevant Privilege Branch. Membership is free.
   
A4 What are the benefits of being an SPP member?
  You can enjoy:
  • Loyal Customer Rebate (LCR) that gives you up to a maximum 2.5% rebate (“LCR Entitlement”) on the Net Purchase Price of your next and every subsequent purchase of Participating Setia Properties.
  • Introducer Reward Points (IRP) that gives you reward of points equivalent to 1% of the Net Purchase Price (“IRP Entitlement”) when you introduce non-SPP members to purchase Participating Setia Property(ies).
A5 Is membership transferable, for example, to an immediate family member?
  The SPP membership is non-transferable, not even to immediate family members. Privileges are only accorded to SPP members.
   
B. Loyal Customer Rebate (LCR)
B1     How do I enjoy the Loyal Customer Rebate (LCR)?
  The Loyal Customer Rebate (LCR) will be given when you purchase your next Participating Setia Property(ies). The LCR Entitlement is based on the total accumulated Final Purchase Price of your previously purchased Setia Properties. No LCR is applicable to the purchase of the first(1st) Setia Property(ies) regardless of its purchase price and whether it is a Participating Setia Property(ies).

In the case of previous joint purchase of Setia Property(ies), the Final Purchase Price will be divided equally among the names stipulated in the SPA, and your respective share will be added to your personal total accumulated Final Purchase Price to determine your LCR Entitlement.

The table below shows the respective tiers of the total accumulated Final Purchase Price and the corresponding LCR Entitlement:

Loyal Customer Rebate (LCR)
Total Accumulated Final Purchase Price of Setia Property(ies) LCR Entitlement
< RM300,000 0%
RM300,000 – RM999,999 1%
RM1,000,000 – RM1,999,999 1.5%
RM2,000,000 – RM2,999,999 2%
RM3mil and above 2.5%

While the LCR Entitlement is a percentage determined from your previous purchases, the Ringgit value of the rebate is calculated based on the Net Purchase Price of your current property transaction which must be a Participating Setia Property.

Case scenario:
Mr X owns Property #1 with Net Purchase Price of RM1.2 million.
Mr X wants to buy Property #2 with Net Purchase Price of RM800,000.

* Assumptions:
  • Property #1 is the 1st Setia Property purchased by Mr X; and
  • SPA of Property #1 has been executed; and
  • 10% of Net Purchase Price of Property #1 has been received by the relevant Privilege Branch; and
  • Property #2 is a Participating Setia Property.
LCR Entitlement based on the Final Purchase Price of Property #1 is 1.5%.
Property #2 rebate amount is 1.5% of the Net Purchase Price of Property #2, which equals to RM12,000 (1.5% x RM800,000).
Final Purchase Price of Property #2 which is credited into Mr X’s SPP account is RM788,000 (RM800,000 – RM12,000).

Subsequently, Mr X decides to buy Property #3 with Net Purchase Price of RM1 million.

* Assumptions:
  • No termination of SPA for Property #1; and
  • SPA of Property #2 has been executed; and
  • 10% of Net Purchase Price of Property #2 has been received by the relevant Privilege Branch; and
  • Property #3 is a Participating Setia Property.
LCR Entitlement will be 1.5%, based on the total accumulated Final Purchase Price of Property #1 (RM1.2 million) + Property #2 ( RM788,000).
Property #3 rebate amount is 1.5% of the Net Purchase Price of Property #3, which equals to RM15,000 (1.5% x RM1 million).
Final Purchase Price of Property #3 which is credited into Mr X’s SPP account is RM985,000 (RM1 million – RM15,000).
The total accumulated Final Purchase Price of Setia Properties purchased by Mr X and recorded in his SPP account is RM2,973,000.
   
B2 I am a buyer of overseas Setia Property. Do I enjoy the same Loyal Customer Rebate (LCR)?
  Yes. As an overseas Setia Property buyer, the Net Purchase Price of your overseas Setia Property can be added into and form part of the total accumulated Final Purchase Price to determine your LCR Entitlement.

For the purposes of determining your LCR entitlement, the Net Purchase Price of your overseas Setia Property needs to be converted into Ringgit Malaysia (RM) and is calculated based on the fixed Foreign Exchange (FOREX) rate determined by the Management.

However, your LCR Entitlement can only be utilised to offset up to the 10% of the Net Purchase Price of your subsequent purchase of Participating Setia Property(ies) developed within Malaysia, combining both LCR and IRP.
   
B3 I have bought Setia Properties under my own name and also under the name of my company. How do you determine the LCR Entitlement on my next and subsequent purchase of Participating Setia Property(ies)?
  For your Subsequent PSP purchase, you must be the Authorised Director in order for you to utilise the LCR Entitlement determined based on your company’s total accumulated Final Purchase Price in your company’s SPP account and your own total accumulated Final Purchase Price in your SPP account of which, the maximum LCR Entitlement still applies.

If you are not your company’s Authorised Director, you are only allowed to utilise the LCR Entitlement determined based on your own total accumulated Final Purchase Price in your SPP account for the purchase of Subsequent PSP.
   
B4 How is the LCR Entitlement given on my next purchase of a Setia Property?
 
  • You must present your valid SPP Card and quote your name and NRIC No./Passport No./Company Registration No. (where applicable) at the time of purchase to qualify for the Loyal Customer Rebate (LCR).
  • You must be named as the purchaser in the SPA for that subsequent Setia Property which must be a direct purchase from S P Setia.
  • The property must be a Participating Setia Property with a purchase price of RM300,000 and above.
The LCR Entitlement will be applied on the Net Purchase Price of the Subsequent PSP to derive a sum which shall offset the Net Purchase Price of the Subsequent PSP via a credit note.
   
B5 I am the Authorised Director of a company which previously purchased a Setia Property. I intend to buy a Participating Setia Property as an individual under my own name. Will I get to enjoy the Company’s Loyal Customer Rebate (LCR)?
  Yes, you can enjoy the Company’s LCR and utilize the LCR Entitlement determined based on the Company’s total accumulated Final Purchase Price in the Company’s SPP account provided your name is in the SPA and you are buying Participating Setia Property(ies).

Case scenario:
Company XYZ owns Property #1 with Net Purchase Price of RM1.2 million.
Mr X wants to buy Property #2 with Net Purchase Price of RM1.5 million under his own name.

* Assumptions:
  • Property #1 is the 1st Setia Property purchased by Company XYZ; and
  • SPA of Property #1 has been executed; and
  • 10% of Net Purchase Price of Property #1 has been received by the relevant Privilege Branch; and
  • Property #2 is a Participating Setia Property; and
  • Mr X, Mr Y and Mr Z are directors of Company XYZ; and
  • Mr X is the Authorised Director of Company XYZ.
LCR Entitlement based on the Final Purchase Price of Property #1 which is credited into Company XYZ account is 1.5%.
Mr X’s rebate amount is 1.5% of the Net Purchase Price of Property #2, which equals to RM22,500 (1.5% x RM1.5 million).
Final Purchase Price of Property #2 which is credited into Mr X’s SPP account is RM1,477,500 (RM1.5 million – RM22,500).

Subsequently, Mr X decides to buy Property #3 with Net Purchase Price of RM1 million under his own name.

* Assumptions (A):
  • No termination of SPA for Company XYZ’s Property #1; and
  • SPA of Mr X’s Property #2 has been executed; and
  • 10% of Net Purchase Price of Property #2 has been received by the relevant Privilege Branch; and
  • Property #3 is a Participating Setia Property; and
  • Mr X is still the Authorised Director of Company XYZ.
LCR Entitlement will be 2%, based on the total accumulated Final Purchase Price of Property #1 (RM1.2 million) + Property #2 (RM1,477,500).
Mr X’s rebate amount is 2% of the Net Purchase Price of Property #3, which equals to RM20,000 (2% x of RM1 million).
Final Purchase Price of Property #3 which is credited into Mr X’s SPP account is RM980,000 (RM1 million – RM20,000).
The total accumulated Final Purchase Price of Setia Properties (Property #2 and Property #3) purchased by Mr X and recorded in his SPP account is RM2,457,500.

Or,

* Assumptions (B):
  • No termination of SPA for Company XYZ Property #1; and
  • SPA of Mr X’s Property #2 has been executed; and
  • 10% of Net Purchase Price of Property #2 has been received by the relevant Privilege Branch; and
  • Property #3 is a Participating Setia Property; and
  • Mr X is no longer the Authorised Director of Company XYZ.
LCR Entitlement will be 1.5%, based on the Final Purchase Price of Property #2 (RM1,477,500).
Mr X’s rebate amount is 1.5% on the Net Purchase Price of Property #3, which equals to RM15,000 (1.5% x RM1 million).
Final Purchase Price of Property #3 which is credited into Mr X’s SPP account is RM985,000 (RM1 million – RM15,000).
The total accumulated Final Purchase Price of Setia Properties (Property #2 and Property #3) purchased by Mr X and recorded in his SPP account is RM2,462,500.

   
B6 I am an existing SPP member and I intend to purchase a property from S P Setia under my company’s name. How do I get the Loyal Customer Rebate (LCR) for my corporate purchase by using my individual membership?
  To enjoy the Loyal Customer Rebate (LCR) on your corporate purchase using your individual membership, you must be the Authorised Director of the said company, who is granted the sole right to operate and deal with the Company’s SPP account and utilise the Company’s LCR Entitlement and IRP Entitlement.

Case scenario:
Mr X owns Property #1 with Net Purchase Price of RM1.2 million.
Mr X wants to buy Property #2 with Net Purchase Price of RM1.5 million under Company XYZ.

* Assumptions:
  • Property #1 is the 1st Setia Property purchased by Mr X; and
  • SPA of Property #1 has been executed; and
  • 10% of Net Purchase Price of Property #1 has been received by the relevant Privilege Branch; and
  • Property #2 is a Participating Setia Property; and
  • Mr X, Mr Y and Mr Z are directors of Company XYZ; and
  • Mr X is the Authorised Director of Company XYZ.
LCR Entitlement based on the Final Purchase Price of Property #1 credited into Mr X’s account is 1.5%.
Company XYZ’s rebate amount is 1.5% of the Net Purchase Price of Property #2, which equals to RM22,500 (1.5% x RM1.5 million).
Final Purchase Price of Property #2 which is credited into Company XYZ’s SPP account is RM1,477,500 (RM1.5 million – RM22,500).

Subsequently, Mr X decides to buy Property #3 with Net Purchase Price of RM1 million under Company XYZ.

* Assumptions (A):
  • No termination of SPA for Mr X’s Property #1; and
  • SPA of Property #2 has been executed; and
  • 10% of Net Purchase Price of Property #2 has been received by the relevant Privilege Branch; and
  • Property #3 is a Participating Setia Property; and
  • Mr X is still the Authorised Director of Company XYZ.
LCR Entitlement will be 2%, based on the total accumulated Final Purchase Price of Property #1 ( RM1.2 million ) + Property #2 ( RM1,477,500).
Company XYZ’s rebate amount is 2% of the Net Purchase Price of Property #3, which equals to RM20,000 (2% x RM1 million).
Final Purchase Price of Property #3 which is credited into Company XYZ’s SPP account is RM980,000 (RM1 million – RM20,000).
The total accumulated Final Purchase Price of Setia Properties (Property #2 and Property #3) purchased by Company XYZ and recorded in its SPP account is RM2,457,500.

Or,

* Assumptions (B):
  • No termination of SPA for Mr X’s Property #1; and
  • SPA of Property #2 has been executed; and
  • 10% of Net Purchase Price of Property #2 has been received by the relevant Privilege Branch; and
  • Property #3 is a Participating Setia Property; and
  • Mr X is no longer the Authorised Director of Company XYZ.
LCR Entitlement will be 1.5%, based on the Final Purchase Price of Property #2 (RM1,477,500).
Company XYZ’s rebate amount is 1.5% on the Net Purchase Price of Property #3, which equals to RM15,000 (1.5% x RM1 million).
Final Purchase Price of Property #3 which is credited into Company XYZ’s SPP account is RM985,000 (RM1 million – RM15,000).
The total accumulated Final Purchase Price of Setia Properties (Property #2 and Property #3) purchased under Company XYZ and recorded in its SPP account is RM2,462,500.
   
B7 I am referred by a Member to buy a Participating Setia Property(ies). Will I be eligible for SPP membership and the Loyal Customer Rebate (LCR)?
  Non-members who buy a Participating Setia Property via an Introducer are automatically eligible for SPP membership once they have executed the SPA and a sum equivalent to at least 10% of the Net Purchase Price is received by the relevant Privilege Branch. However, you are not entitled to the LCR until you purchase a subsequent Participating Setia Property(ies). All other terms and conditions related to the LCR shall apply.
   
B8 Can I transfer my Loyal Customer Rebate (LCR) to others?
  No, the LCR Entitlement is not transferable, even to immediate family members. LCR is only accorded to you, but you can utilise your LCR Entitlement upon a joint purchase of the next Participating Setia Property(ies) with other Members if you have the highest total accumulated Final Purchase Price recorded in your SPP account amongst the joint purchasers.
   
B9 Is there an expiry date on the Loyal Customer Rebate (LCR)?
  The Final Purchase Price of Setia Properties previously purchased by you will be accumulated and recorded in your SPP account, which will remain valid unless otherwise notified by the Management or determined by any applicable law or regulation, including but not limited to the Personal Data Protection Act 2010.
   
C. Introducer Reward Points (IRP)
C1     How do I obtain the IRP Entitlement and utilise the IRP?
  The IRP Entitlement will be given to you if you are a Member and after you have successfully introduced a Non-member to purchase Participating Setia Property(ies). For a list of the criteria to become a member and for a “successful introduction”, please refer to FAQ# A3 and FAQ# C3 respectively.

The conversion rate of the IRP Entitlement is RM1 = 1 IRP.

Example: 1% of RM300,000 (Net Purchase Price) = RM3,000. Therefore RM3,000 = 3,000 IRP.

The IRP Entitlement can be accumulated and utilised as a rebate on the Net Purchase Price plus any GST payable (if applicable) when you purchase a Subsequent PSP. The total rebate to be utilised for the purchase of a Subsequent PSP must not exceed 10% of the Net Purchase Price of the Subsequent PSP when combining both the IRP Entitlement and LCR Entitlement.

To utilise your IRP Entitlement for a rebate, you must fill in the Loyal Customer Rebate Form (LCRF) during your purchase of a Subsequent PSP at the respective Privilege Branch. Once accepted by the Management, the Loyal Customer Rebate Form (LCRF) cannot be revoked, cancelled, returned or transferred, and the utilised IRP Entitlement will not be reinstated.

The IRP Entitlement will expire three (3) years from the date of the SPA executed by the Non-member whom was being referred.
   
C2 I am a buyer of overseas Setia Property. Can I enjoy the same Introducer Reward Points (IRP)?
  Yes. However, the IRP Entitlement will only be given to you if you are a Member and after you have successfully introduced a Non-member to purchase Participating Setia Property(ies) and not overseas Setia Property(ies). For a list of the criteria for a "successful introduction", please refer to FAQ# C3 respectively.

The IRP Entitlement can be accumulated and utilised as a rebate when you purchase Subsequent PSP developed within Malaysia.
   
C3 I have introduced a friend to purchase a Participating Setia Property. When can I receive the IRP Entitlement?
  You must firstly be a Member in order to enjoy the IRP and the IRP Entitlement will be given after a successful introduction.

“Successful introduction” means fulfillment of ALL of the following:
  1. You have introduced a Non-member to purchase Participating Setia Property(ies) with a purchase price of RM300,000 and above;
  2. You shall be present at the respective Privilege Branch together with the Non-member during the purchase of Participating Setia Property(ies) by the Non-member for verification purposes;
  3. You must produce a valid SPP Card and quote your name and NRIC No./Passport No. to qualify for the IRP;
  4. Non-member has filled-in your name and NRIC No./Passport No. in Purchaser's Details Form;
  5. Non-member has executed the SPA and a sum equivalent to at least 10% of the Net Purchase Price is received by the relevant Privilege Branch; and
  6. the relevant SPA must not consist of your name and/or any other existing Member(s).
The Non-member must not have approached S P Setia directly with the intention to purchase a Participating Setia Property before your introduction.

After a successful introduction, the Management will credit the IRP Entitlement into your SPP account. The IRP Entitlement can be accumulated and utilised as a rebate on the Net Purchase Price plus any GST payable (if applicable) by you when you purchase a Subsequent PSP.

The total rebate to be utilised by you for the purchase of a Subsequent PSP must not exceed 10% of the Net Purchase Price of the Subsequent PSP when combining both the LCR Entitlement and IRP Entitlement.
   
C4 I am the Authorised Director of a company and I have introduced a friend to purchase Participating Setia Property(ies). Will the IRP Entitlement be given to the company or to me personally as the Introducer?
  The Management will credit the IRP Entitlement into your personal SPP account on the condition that the criteria for successful introduction listed in FAQ# C3 above have been fulfilled.
   
C5 Can I transfer my Introducer Reward Points (IRP) to others?
  Yes. However, only the current available and unexpired IRP Entitlement can be transferred and such transfer can only be made to other existing Members. As the transferor of your IRP Entitlement, you need to authorise the transfer by filling in and submitting the IRP Authorised Transfer Form (IRPATF) with a copy of your NRIC/Passport. The transferred IRP Entitlement must be utilised immediately and only as a rebate on the purchase of a Subsequent PSP.
   
C6 Is there an expiry date on the Introducer Reward Points (IRP)?
  The IRP Entitlement accumulated via the introduction of Non-members are valid for three (3) years from the date of the relevant SPA for the Participating Setia Property(ies) purchased by the Non- members. IRP Entitlement gained via a transfer shall be subject to their original expiry date and must be utilised immediately as a rebate on the purchase of a Subsequent PSP. Any current available and/or expired IRP Entitlement shall automatically lapse after the said 3 years period and are strictly not allowed to be reinstated. Any request for such reinstatement will not be entertained.
   
D. Combination of LCR and IRP
D1     Can I combine the Loyal Customer Rebate (LCR) and Introducer Reward Points (IRP) for my next purchase of Participating Setia Properties?
  Yes. You are allowed to combine both your LCR and IRP to purchase a Subsequent PSP either as an individual in a single purchase or in a joint purchase with others, provided your name is stipulated in the SPA.
  • In the case where you purchase individually or jointly purchase a Subsequent PSP with a Non-member, such transaction can utilise a combination of:
    1. your LCR Entitlement; and
    2. your current available and unexpired IRP Entitlement,
    to offset up to 10% of the Net Purchase Price.
  • In the case where you jointly purchase a Subsequent PSP with other Member(s), with/without Non-member(s), such transaction can utilise a combination of:
    1. the LCR Entitlement of the particular Member with the highest accumulated Final Purchase Price; and
    2. your current available and unexpired IRP Entitlement and the other Member(s)’ current available and unexpired IRP Entitlement,
    to offset up to 10% of the Net Purchase Price.
  • In the case where a Company purchase a Subsequent PSP, such transaction can utilise a combination of:
    1. the LCR Entitlement determined based on the Authorised Director’s total accumulated Final Purchase Price and the Company’s total accumulated Final Purchase Price of which, the maximum LCR Entitlement still applies; and
    2. the Authorised Director’s current available and unexpired IRP Entitlement,
    to offset up to 10% of the Net Purchase Price.

    If you wish to combine your LCR and/or IRP with the LCR and/or IRP belonging to other Members, then your name and the names of the respective Members must be stipulated in the SPA. Otherwise, you must first obtain an authorised transfer from the respective Member(s) (“Transferor”) that requires him/them to fill in and submit the IRP Authorised Transfer Form (IRPATF) with a copy of his/their NRIC/Passport which must be given to the relevant Privilege Branch during your purchase of the Participating Setia Property(ies).
   
E. General
E1     Can the LCR Entitlement and/or IRP Entitlement be converted into cash?
  No. The LCR Entitlement and/or IRP Entitlement cannot be converted into cash.

The LCR Entitlement can only be applied on the Net Purchase Price of Subsequent PSP to derive a sum and offset the Net Purchase Price of Subsequent PSP via a credit note. While the IRP Entitlement can only be accumulated and utilized as a rebate on the Net Purchase Price plus GST payable (if applicable) when you purchase a Subsequent PSP, at a conversion rate of 1 IRP = RM1.
   
E2     When can I receive my Setia Privilege Program (SPP) Card?
  Upon execution of the SPA and receipt of a sum equivalent to at least 10% of the Net Purchase Price by the relevant Privilege Branch, the Management will issue a confirmation of membership including the SPP Card at the beginning of the subsequent month and post to your main correspondence address via regular mail.

For company purchase, the SPP Card will only be issued to the Director(s) upon the nomination of Authorised Director. Please refer to Terms and Conditions Section# 3.6(i) on the requirement to nominate a Director as Authorised Director.
   
E3     In the event that the SPP Card posted to me is lost, stolen or damaged, can I request for a replacement?
  Yes. You can email privilege@spsetia.com with your NRIC No./Passport No. and full name (as per NRIC/Passport) quoted to request for a one-time replacement card at no charge. Alternatively, you can visit any of our Privilege Branches and fill in the Card Replacement Form.

You will be informed once the replacement card is ready for collection at your nearest/respective Privilege Branch.

The Management reserves the right to impose a minimal charge for subsequent replacement thereafter.
   
E4     How do I log into the SPP website as a first time user?
 
  • To log into our SPP website, please visit www.spsetia.com.my/privilege.
  • For first time user, please click on “First Time Login” to key in your NRIC No. and the serial number for verification.
To obtain the serial number, you may:
  • refer to the back of your SPP Card; or
  • email privilege@spsetia.com; or
  • contact the Privilege Branch nearest to you.
Please quote your name (as per NRIC/Passport) and NRIC No./Passport No. in all correspondence.
   
Last Updated: 2/5/2014 
Possible Late Delivery of Gift Redemption

Dear Valued SPP Members,

Thank you for your loyal support.

As you are aware that SPP Gift Redemption has officially ended on 30/6/2013, we are pleased to informed that we have received overwhelming responses from all of you.

In view of that, there may be possibilities of gift delivery delay due to the swamps of gift redemption orders and/or low supply of goods from suppliers during this period of time. However, rest assured that this delay is only temporary and your gift(s) shall reach you separately no later by end of August 2013 (except custom made furniture that require additional production timeline and any other exceptional delay conveyed to you directly by our suppliers, which has mutually agreed by you).

We apologize for the inconvenience caused.

Thank you.

Regards
Setia Privilege Program
 Click here to [close]