Eco World Development / Leong Kok Wah

[winston]

not vested

EcoWorld in prime position for Johor growth

Poised to capitalise on the vibrant industrial space in Johor.

Johor-Singapore Special Economic Zone (JS-SEZ) initiative.

Back in Sept 23, EcoWorld Malaysia had acquired 404 acres of land in Kulai, Johor for RM211mil.
(Eco Business Park VI).

EcoWorld Malaysia is one of the largest industrial landowners in Iskandar Malaysia in Johor.

Will have five business parks, four in Iskandar Malaysia and one in the Klang Valley.

Source: The Star

https://www.thestar.com.my/business/bus ... hor-growth

[winston]

Eco World Development (ECW MK)
2H sales to be boosted by new projects

Update on upcoming projects

We expect ECW to achieve stronger sales in 2HFY24 driven by the launch of two new projects in Kajang and Kulai with a combined GDV of MYR2.1b.

These projects are scheduled for launch by 3Q/4QFY24.

We maintain our FY24 sales assumption of MYR3.7b (5.7% higher than ECW’s sales goal).

No change to our earnings forecasts and MYR1.83 TP (on 1.1x FY24E PBV).

Our BUY recommendation is backed by 4.3% net DY.

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/375729.pdf