Eco World Development Group Bhd (EcoWorld Malaysia) remains upbeat about its earnings prospects for this year, underpinned by its various ongoing projects.

The group said it is confident of achieving its RM3.5bil sales target for the current financial year (FY25).

“With so many new projects in the pipeline, combined with the strong demand we have been experiencing across all five of our revenue pillars, EcoWorld Malaysia’s growth momentum is solidly on track,” said president and chief executive officer Datuk Chang Khim Wah in the company’s annual report.

Chang said EcoWorld Malaysia’s RM3.5bil target is supported by the high-cash generative phase that the majority of the group’s mature projects are currently at, and the focus will be on land preservation to increase profit margins and grow long-term absolute returns.

Separately, Chang said the group’s 240.3 acres in Iskandar Malaysia, acquired in FY24, will be developed as the Eco Botanic 3 township development.

“Its strategic location right next to Eco Botanic and Eco Botanic 2 will enable it to leverage off the success of the two earlier townships and contribute towards the enhancement of the remaining mature land there.

“Purchasers will be able to immediately enjoy the extensive public parks and gardens as well as comprehensive lifestyle and recreational amenities available at the existing developments.”

Chang said the increased patronage from new residents would in turn further enhance value creation at Eco Botanic City.

“It will boost demand for the wide range of local and international businesses, from fashion and retail to food and beverage, education, edutainment, wellness and many others that are operating at the commercial components Eco Boulevard and Eco Galleria in the township development.

“All this augurs well for the group’s future residential and commercial launches in the locality, which is fast becoming the preferred residential address and most vibrant commercial hub in Iskandar Puteri.”

For its FY24 ended Oct 31, 2024, EcoWorld Malaysia saw its net profit jump by 60.3% year-on-year to RM303.5mil, as revenue rose 1.4% to RM2.26bil, which was primarily due to higher contributions from active and newly launched phases during the financial year.

At the start of FY25, Chang said the group entered into several agreements to acquire 847.2 acres of land located right beside Eco Forest in Semenyih in Selangor.

“The new land has two access routes to the Lekas Highway through Jalan Broga as well as via Eco Majestic, the group’s first township in the Klang Valley, which is now fully mature with a fast-growing commercial precinct known as Eco Majestic City.

“Other amenities include the world-renowned University of Nottingham’s Malaysia campus, which is situated opposite the land.”

Meanwhile, Chang said prospects for the proposed industrial development of Eco Business Park VII, which is situated within the Malaysian Vision Valley 2.0 economic corridor in Negri Sembilan, “are very bright”.

“This is based on the keen interest we have been receiving from more than 1,400 businesses operating at our existing business parks, as well as new inquiries from local and foreign industrialists that we are continually engaging,” he said.

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