Latest news with #RM70.05mil
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.'
