Đánh bạc:EcoWorld Malaysia posts record sales of RM3.84bil

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KUALA LUMPUR: Eco World Development Group posted a sales record of RM3.84bil in FY22, which beat its previous record high of RM3.82bil.

The property group said in a statement the sales figure also surpassed the FY22 annual target of RM3.5bil with a contribution of RM753.3mil from the four business parks - Eco Business Parks I, II and III in Iskandar Malaysia and Eco Business Park V in the Klang Valley.

The group also reported RM446.3mil of sales in commercial properties as well as over RM2.3bil in total residential sales.

President and CEO Datuk Chang Khim Wah said the group's strategic decision in FY22 to launch more upgrader and luxury homes across the three regions of its operations yielded very positive results.

"Close to RM1.7bil of homes priced above RM650,000 were sold, representing 44% of total Group sales.

"Homes priced below RM650,000 also made up a sizeable component of EcoWorld Malaysia’s portfolio with RM648.9mil sales achieved this year," he said in a statement.

In the fourth quarter ended Oct 31, 2022, Eco World recorded a net profit of RM1.78mil, which compared to a net profit of RM42.84mil in the year-ago quarter, as earnings were impacted by an impairment of investment and a higher share of loss in EcoWorld International.

Earnings per share shrank to 0.06 sen from 1.45 sen in the comparative quarter.


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Revenue meanwhile was down to RM559.28mil from RM666.05mil.

On the back of this performance, the group declared a dividend of two sen per share, bringing the total FY22 payout to five sen per share.

Over the full financial year, EcoWorld registered a net profit of RM157.21mil as compared with RM182.74mil in FY21, Revenue in FY22 was RM2.043bil, which was marginally higher than in the previous year.

Moving forward, Chang said the group maintained its annual sales target at RM3.5bil and will improve returns by launching products with higher profit margins and with higher absolute profits per sq ft of land to derive optimal returns.

He added that the group will focus on launching more innovative products that meet the lifestyle needs of its multi-generational and multi-ethnic customer base.

"Products that have achieved sold-out success in the Klang Valley such as our duduk series of apartments for young suburbanites will be further refined and also introduced to our customers in Iskandar Malaysia and Penang.

"Similarly, our Co-Homes that have done very well in both the Klang Valley and Penang will be launched in Iskandar Malaysia to offer the best of landed and apartment living to our customers there,” he said.

He added that the group has bene pursuing many leads with overseas industrialists and investors as it strives to increase the numbers of sizeable new industrialists at its business parks.


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