26-06-2025
- Business
- New Straits Times
EcoWorld Q2 earnings jump 85pct to RM123mil on land sale
KUALA LUMPUR: Eco World Development Group Bhd (EcoWorld Malaysia) posted a net profit of RM129.8 million for the second quarter ended April 30, 2025, up 85.3 per cent from RM70 million a year ago, driven by higher revenue from a major land sale.
EcoWorld Malaysia's revenue rose 52 per cent to RM878.2 million from RM555.8 million in the same quarter last year.
The increase was mainly driven by the full consolidation of Paragon Pinnacle's results and the substantial recognition of revenue from the sale of 123 acres of industrial land to Microsoft Payments (Malaysia) Sdn Bhd.
For the quarter, EcoWorld Malaysia declared a second interim dividend of two sen per share, bringing the total dividends declared for the year to date (YTD) to three sen per share.
President and chief executive officer Datuk Chang Khim Wah said EcoWorld Malaysia is on course to surpass its RM3.5 billion sales target for the financial year 2025 (FY25).
He noted that within the first seven months of FY25, the group has already secured RM2.99 billion in sales, amounting to 85 per cent of its full-year target.
"The YTD sales in FY25 is also 37 per cent higher than what we achieved in the same period of financial year 2024.
"This has enabled the group to chart an all-time high in our future revenue position which stands at RM5.22 billion as at May 31, 2025," he said.
Chang said the company continues to observe steady demand from local manufacturers for its ready-built factories and smaller industrial land plots within its business parks in Iskandar Malaysia and the Klang Valley.
He added that in 2Q25, EcoWorld Malaysia finalised a strategic partnership with SD Guthrie Berhad and NS Corporation to jointly develop 483.5 hectares of land in Bukit Pelandok, Negeri Sembilan.
