’s earnings prospects are expected to remain solid, underpinned by its sales momentum and growing exposure to the improving Iskandar Malaysia property market in Johor.
EcoWorld Malaysia’s industrial project, called Eco Business Park , contributed RM298mil to sales . Most of the products sold were cluster and semi-d factories in Iskandar Malaysia, Johor and the Klang Valley. UOBKH Research said it expects FY24 revenue to increase by 7%, driven by an improvement in the recognition of progressive billings, more launches, higher unbilled sales of RM3.9bil and completion of several projects.
Net profit, on the other hand, surged by 22% to RM69.63mil for the quarter under review compared with RM57mil recorded in 1Q23.
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