Latest news with #EWI
Daily News Egypt
06-07-2025
- Business
- Daily News Egypt
10 Egyptian stocks outperform gold, real estate, and savings certificates in Q2 2025
Ten stocks listed on the Egyptian Exchange (EGX) posted exceptional gains during the second quarter of 2025, with share prices soaring by more than 70%—significantly outperforming traditional investment options such as gold, real estate, and bank savings certificates. The rally was fuelled by a combination of strong financial results and speculative trading, particularly in small- and mid-cap stocks. Among the top gainers, U Consumer Finance recorded a staggering increase of 1,019.69%, closing the quarter at EGP 8.700, marking the most dramatic surge on the market. ODIN Investments in Egyptian Equities – Kasb followed with a 443% rise to EGP 5.430. Egypt Fertilizers (EGYFERT) jumped 111.48% to close at EGP 216.510, while Upper Egypt Flour Mills advanced 108.53% to EGP 551.700. Misr Cement Qena also delivered strong gains, rising 102.11% to reach EGP 52.730. Misr Beni Suef Cement saw its share price climb by 92.93%, ending the quarter at EGP 144.700. General Silos & Storage (GSSC) appreciated by 86.65% to EGP 313.860, and Beltone Holding gained 77.99%, closing at EGP 3.720. Suez Canal Technology Settling rose 74.38% to EGP 154.400, while Cairo National Company for Investment and Securities increased 73.76% to EGP 52.040. B Investments Holding completed the list with a 72.04% rise, reaching EGP 40.00 per share. Despite the remarkable performance of these individual stocks, broader market indices posted more modest gains. The benchmark EGX30, which tracks the performance of the 30 most liquid companies on the exchange, rose by 2.6% to close the quarter at 32,857.62 points. The EGX70 Equal Weight Index (EWI), which focuses on small and mid-cap stocks, climbed 10.18% to reach 9,967.14 points, reflecting the segment's bullish momentum. Meanwhile, the EGX100 EWI rose by 8.15% to close at 13,477.29 points. The EGX30 Capped recorded a 2.66% increase, ending the period at 40,845.77 points, while the Tamayuz Index—tracking high-performing companies based on financial merit—grew by 7.76% to 12,481.01 points.
The Star
26-06-2025
- Business
- The Star
EcoWorld continues to outperform for FY25
EcoWorld Malaysia said its industrial segment under the Eco Business Parks and Quantum brands continued to perform exceptionally well. PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has achieved RM2.99bil in sales in the seven months of its current financial year ending Oct 31, (FY25), representing 85% of its full-year sales target. In a statement, the property developer said projects in Iskandar Malaysia in Johor contributed RM1.67bil or 56% of the group's total sales, followed by 34% from the Klang Valley and 10% from Penang. For its second quarter of financial year ended April 30, (2Q25), EcoWorld Malaysia's net profit surged to RM129.83mil from RM70.05mil in the previous corresponding period, while revenue grew to RM878.20mil from RM555.76mil a year earlier. For the six-month period ended April 30, EcoWorld Malaysia's net profit rose to RM210.18mil from RM139.68mil a year earlier, while revenue grew to RM1.42bil from RM1.09bil a year earlier. EcoWorld Malaysia said its net gearing ratio as of April 30, stood at 0.55 times, underpinned by cash balances, including deposits and short-term funds, of RM1.76bil. The company also declared a second interim dividend of two sen per share in 2Q25, bringing total year-to-date dividends declared to three sen for FY25. EcoWorld Malaysia said its industrial segment under the Eco Business Parks and Quantum brands continued to perform exceptionally well, with combined sales of RM1.20bil secured as of May 31. 'This already exceeds our full year industrial sales of RM1.11bil recorded in FY24, setting a new benchmark in industrial sales for the group.' EcoWorld Malaysia said its robust sales performance has generated a positive spill-over effect on its other key financial metrics. 'Apart from the substantial increase in the group's future revenue to RM5.22bil as of May 31, our cash balances, including deposits and short-term funds, as of April 30, was RM1.76bil, also a record high for the group. 'In addition, we are expecting more than RM1bil in cash inflows from the remaining proceeds of our sales of five large tracts of industrial land secured in FY24 and FY25.' Separately, Eco World International Bhd (EWI), which focuses on developing properties in Britain and Australia, returned to the black after posting a net profit of RM2.28mil for 2Q25, versus a net loss of RM14.13mil in the previous corresponding period. In a filing with Bursa Malaysia, EWI said it recorded a higher share of profits in a joint venture during the quarter as Eco World-Ballymore recorded higher profit as a result of a product mix with a higher profit margin. 'There was no revenue recorded by the group in 2Q25 as all residential units in both projects in Australia – West Village and Yarra One – were fully sold in FY24 with only one commercial unit remaining.' For the six-month period ended April 30, EWI's net loss narrowed to RM1.46mil from a net loss of RM13.95mil a year earlier. The group reported no revenue due to the reason stated above. 'The group is currently assessing the market conditions and feasibility of the remaining sites in Britain and Australia before proceeding with any new launches.'
The Star
26-06-2025
- Business
- The Star
EcoWorld Malaysia registers 7M sales of RM2.99bil
PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has achieved RM2.99bil sales in the seven months of its current financial year ending Oct 31, 2025 (FY25), representing 85% of its full year sales target. In a statement, the property developer said projects in Iskandar Malaysia contributed RM1.67bil or 56% of the group's total sales, followed by 34% from the Klang Valley and 10% from Penang. For its second quarter ended April 30, 2025 (2Q25), EcoWorld Malaysia's net profit surged to RM129.83mil from RM70.05mil in the previous corresponding period, while revenue grew to RM878.20mil from RM555.76mil a year earlier. For the six-month period ended April 30, 2025, EcoWorld Malaysia's net profit rose to RM210.18mil from RM139.68mil a year earlier, while revenue grew to RM1.42bil from RM1.09bil a year earlier. EcoWorld Malaysia said net gearing ratio as at 30 April 2025 stands at 0.55 times, underpinned by cash balances (including deposits and short-term funds) of RM1.76bil. The company also declared a second interim dividend of two sen per share in 2Q25, bringing total year-to-date dividends declared to three sen for FY25. EcoWorld Malaysia said its industrial segment under the Eco Business Parks and 'Quantum' pillars continued to perform exceptionally well, with combined sales of RM1.20bil secured as at May 31, 2025. 'This already exceeds our full year industrial sales of RM1.11bil recorded in FY24, setting a new benchmark in industrial sales for the group.' EcoWorld Malaysia said its robust sales performance has generated a positive spill-over effect on its other key financial measures. 'Apart from the substantial increase in the group's future revenue to RM5.22bil as at May 31, 2025, our cash balances (including deposits and short-term funds) as at April 30, 2025 was RM1.76bil, also a record high for the group. 'In addition, we are expecting more than RM1bil cash inflows from the remaining proceeds of our five large-tract industrial land sales secured in FY24 and FY25.' Separately, Eco World International Bhd (EWI), which focuses on developing properties in the United Kingdom and Australia, returned to the black after posting a net profit of RM2.28mil for its second quarter ended April 30, 2025 (2Q25), versus a net loss of RM14.13mil in the previous corresponding period. In a filing with Bursa Malaysia, EWI said it recorded a higher share of profits in a joint venture during the quarter as Eco World-Ballymore recorded higher profit as a result of a product mix with higher profit margin. 'There was no revenue recorded by the group in 2Q25 as all residential units in both projects in Australia, namely West Village and Yarra One were fully sold in the financial year 2024 with only one commercial unit remaining.' For the six-month period ended April 30, 2025, EWI's net loss narrowed to RM1.46mil from a net loss of RM13.95mil a year earlier. The group reported no revenue due to the same reason stated above. 'The group is currently assessing the market conditions and feasibility of the remaining sites in the UK and Australia before proceeding with any new launches.'
The Star
05-06-2025
- Business
- The Star
Paramount still keen on foreign markets
Paramount Corp Bhd group chief executive officer Jeffrey Chew. SHAH ALAM: Property developer Paramount Corp Bhd remains committed to overseas property investment amid market uncertainty and Eco World International Bhd 's (EWI) plans to re-enter the Malaysian property scene. In May 2024, Paramount became a major shareholder of EWI after acquiring a 21.54% stake in the international property developer for a cash consideration of RM170.61mil. Loss-making EWI focuses on international property development, mainly in Britain and Australia, but had recently announced plans to venture into the local market. Group chief executive officer Jeffrey Chew said EWI's decision to tap into the local market does not divert Paramount's objective of diversifying its earnings base and expanding property development activity overseas. 'I think our objective has always been to keep some assets outside of Malaysia. The fact that EWI has actually decided to launch in Malaysia does not mean that they are going to get rid of all the overseas projects. 'In a way, it still does meet our objective and original intonation of having assets outside of Malaysia,' he told the media during a briefing after Paramount's 55th AGM, yesterday. Chew noted that if EWI were to launch projects locally, revenue recognition would likely be faster compared to markets such as Britain or Australia. He said Paramount sees long-term value in maintaining its investment in EWI, maintaining a positive outlook over the next few years. On Paramount's broader overseas investment strategy, Chew said that the group tries to 'not put all its eggs in one basket' and continues to explore new opportunities. He acknowledged that earlier projects, including a venture in Bangkok, had underperformed due to post-pandemic market conditions. As a result, Paramount is now focusing on lower-risk, structured international investments that offer fixed returns and defined exit mechanisms. To date, Paramount has invested in six international property projects across Australia, Britain and the United States. In line with its updated investment approach, the group also revised its international profit contribution target to 20%, down from the earlier goal of 30%. He said the company was also working to improve internal performance metrics. 'We've grown our return on equity (ROE) from just over 2% a few years ago to 7.2% today, one of the highest in the domestic property sector. Our aim is to reach double-digit ROE in the next few years by improving operational efficiency, shortening development cycles and managing land acquisition more strategically,' he added. Looking ahead, Paramount remains confident in its ability to achieve its sales target of RM1.5bil, supported by the robust demand in the property market, specifically for residential property. Paramount posted a net profit of RM14.43mil or a basic earnings per share of 2.32 sen for the first quarter of this year (1Q25). This was higher from the RM7.71mil or 1.24 sen in the same quarter of the preceding year. Revenue also increased from RM172.61mil to RM217.84mil.
The Sun
05-06-2025
- Business
- The Sun
Paramount aims to maintain momentum after record high sales of RM1.4b in FY24
KUALA LUMPUR: Paramount Corporation Bhd is poised to build on the momentum of record high property sales amounting to RM1.4 billion in 2024, a 24% increase compared to 2023, for the current financial year. Group CEO and director Jeffrey Chew Sun Teong said the milestone of achieving the highest annual sales in its history underlines strong market demand and the company's effective project pipeline. In addition to the record-breaking achievement, Paramount's unbilled sales rose by 12% to RM1.6 billion, providing healthy earnings visibility moving forward. 'While the overall take-up rate was not exceptionally high, the company views this as a natural result of its large number of project launches in 2024. The company remains unfazed, noting that developments with longer sales periods are expected to register lower take-up rates initially, especially when launched at scale,' Chew told reporters after the Paramount's annual general meeting today. Moving forward, Paramount is expected to sustain its growth trajectory into 2025, supported by a robust pipeline of ongoing projects stemming from a record RM2.2 billion worth of property launches in 2024. 'This marked the highest launch value in the company's history, with many of the developments continuing to drive sales into the current year. The launches were well diversified, with 72% comprising high-rise units, 27% landed properties and the remaining 1% commercial. 'Spread across multiple locations, the breadth of projects reflects Paramount's strategic focus on maintaining a balanced portfolio, both in terms of product mix and geographical distribution, helping to ensure resilience amid varying market conditions,' Chew said. Paramount achieved revenue of RM1 billion in FY24, a 3% increase from FY23. The group's profit before tax (PBT) rose by 20% to RM156.9 million compared to RM130.2 million in FY23 on the back of sustained revenue from the property segment and dividend income from its investment in another property developer. Profit attributable to ordinary equity holders grew 24% to RM102.4 million from RM82.8 million in FY23. In FY24, the property segment achieved a record high PBT of RM145 million, contributing 92.4% of the group's total PBT, supported by revenue of RM965.3 million. The investment and other segments saw strong improvements, largely driven by the group's stake in Eco World International Bhd (EWI). The coworking segment reported an 80% jump in revenue to RM23.5 million (including RM5.2 million in intersegment revenue). However, PBT declined to RM700,000 from RM2 million achieved in FY23, primarily due to the absence of a one-off impairment reversal that was recognised in FY23. As of Dec 31, 2024, total assets stood at RM3.1 billion, up from RM3 billion a year earlier. Total liabilities rose to RM1.6 billion from RM1.3 billion. Chew said, 'Paramount's gearing level rose slightly in 2024, mainly due to higher borrowings and financing related to its investment in EWI. The company also refinanced its perpetual debt during the year, contributing to the increase. 'Gearing level is currently higher due to the structure of its financial instruments and recent refinancing activities. Despite this, the company has maintained a consistent dividend payout track record, distributing at least 38% of its profits annually over the past decade. 'In total, shareholders have received approximately RM1.15 in dividends over 10 years, exceeding the company's current share price of under RM1.10.' With RM2.2 billion worth of launches in 2024, Paramount's portfolio remains well diversified, comprising 72% high-rise developments, 27% landed properties and 1% commercial projects. This broad spread across product types and locations provides resilience against unforeseen challenges. The company believes this balanced approach will help sustain overall performance throughout the year, even if individual projects face temporary setbacks.
