KUALA LUMPUR (June 21): Eco World International Bhd posted a narrower net loss of RM4.56 million or 0.19 sen loss per share for the second quarter ended April 30, 2023 (2QFY2023) compared with RM67.35 million or 2.81 sen loss per share a year earlier.

The improvement was due to higher foreign exchange (forex) gain as the British pound strengthened against Ringgit Malaysia, higher interest income following capital contribution repayments from the UK joint ventures and lower finance costs due to the group’s progressive repayment of loans.

In the previous year's corresponding quarter, the group provided an impairment loss on the investment in its 75%-owned Ecoworld Ballymore, EWI informed Bursa Malaysia on Wednesday.

For the nine-month period ended April 30, EWI trimmed its net loss to RM35.38 million from RM82.01 million a year ago.

Compared with the immediate preceding quarter, EWI’s net loss decreased from RM30.82 million in 1QFY2023, as revenue increased from RM22.37 million.

Looking ahead, EWI said it is on track to achieve its full-year target sales of RM1.4 billion with total sales including reserves of RM918 million achieved as on May 31. It added that its focus on selling its completed stocks have generated substantial cash.

“Since turning net cash positive in 4Q FY2022, the group’s total cash, deposits and other investments have further increased to RM922 million (excluding cash held at JV entities) as on April 30, 2023. This exceeds remaining borrowings by RM652 million.

“Including the group’s effective share of net cash balances at JV entities, the group’s total net cash balance stands at RM727 million as on April 30, 2023. This is a 218% increase from the net cash (including cash at JVs) position as on Oct 31, 2022,” the group said in a statement.

EWI added that given that sales of its remaining completed stocks are the key determinant for distributions to shareholders, the group will continue to offer attractive incentive packages to buyers and maintain its marketing campaigns, as well as exploring various options including bulk offers to accelerate sales.

“These initiatives are expected to sustain the sales momentum enabling conversion of remaining stocks to cash despite the softening in real estate demand following hikes in interest rates and cost of living pressures in the UK and Australia,” it said.

EWI aims to declare a first tranche dividend of at least RM300 million in the near term while working towards achieving the RM900 million total distribution target set for 2023.

Touching on the group’s proposed capital reduction of RM1.5 billion, EWI president and CEO Datuk Teow Leong Seng said the majority of the group’s shareholders voted in favour of the exercise at the extraordinary general meeting (EGM) held on Monday (June 19).

“With the approval of our shareholders secured we expect to be able to complete our proposed capital reduction by August 2023.

“Thereafter, based on the group’s substantial net cash reserves of more than RM700 million accumulated as on April 30, 2023, we are well on track to be able to declare a first tranche dividend amounting to at least RM300 million in the near term,” he added.

EWI closed flat at 60 sen on Wednesday, valuing it at RM1.43 billion. Year-to-date, the stock has risen 50%.

Source: TheEdge - 22 Jun 2023

the profit margin of 20% should have taken into account of all those side costingss for sure...otherwise, how the industry survive?

construction biz and housing price have certainly taken into account of build cost+interest over a period of years before final sale...thas how they make profit and sustain thier biz...

the buyer needs to pay for interest of build cost during the construction before they get the key, i believe its the same else where

Today EWINT Special meeting on dividend?

GBP - RM now highest in 5 years! HOpefully the management will capaitalie this opportunty to cash out from UK/Australia.

today QR out?

say if the land bank worth 1 bil now...then overall is close to RM2.4 bil worth, then share price should be at least rm 1??? just rough guess....

really hope it goes back to rm 1++ many IPO investors stll stuck here

@ undeveloped land worth GDV RM 8 billion

Anyone know whats the market price for this land ? At least we know the worth of this company 450m + 900 mil, that 1.3 bil...and whats the market value of the land bank left to be developed, then can guess roughly company worth.

i wonder what is the fair price they will bring up, to justify the IPO investors? RM 1++???
If not, how do they pay back the GUCCO LANd?

this is bext moment for them to cash out and pay back investors, instead of investing further to develop housing project in UK/Australia, which is too uncertain as wiith high interest era/economy downtime...

its now closing in to 5.8...think with current low oil price, uncertainty in politics due to PRN coming soon....I expect MYR drop further in this coming month...
This may be the best moment for EWINT to cash out thier reserve, whatever JV earnings from UK to settle the debt and pay off the cash dividend...

@arsenal93

if 900 mil +400 mil of dividend (if they hit sale target), that will be 1.3 bil, total share number 2.4 bil (if i remember right), so this year, and next year, possible to repay BIG 50++ sen of devidend to share holders, and still having reserve for future UK projects.

So this the booster! I think, just I think, they maybe able to boost the share price back to RM 1++....

Its wonderful timing now with weakening RM -Pound. this could be the right momemt for them to cash out from UK BIZ joint venture reserve

Disclaimer: Just my opinion, not a buy call or sell call

the pound to Rinngit Malaysia closing to 5 Year high now....its 1 Pound- 5.74 RM....Its the right moment to cash out from UK joint venture and cash reserve to repay the shareholder with cash...

My dream contonue as follow:
at the end, once the most precious asset sapura MPV sold off, the drama contonue, big losing projects keep coming, until all these other assest sold out one by one, all money kena suck out...then declare close shop at the expenses of all brave investors...

and the CEOs laughing all the way to bank...together with all sub contractor...

I dream about this whole complete drama here, here is my dream:
In my dream,
Its buying more time and time, so that CEO and the rest can still ride on fat pay, and and do some networking by roping in more and more so call high profile talents in, these talents come and go, also ride on fat pay, and doing so, after this shut down, the CEO can always find next stop through these contacts he hired to Sapura.

The one time impairment, comes one after another, big losses, come one after another, and in between, its shows some improvements for hope, and most of the projects it won are losing projects, and the so call legacy projects contonue forever, and most contracts are money losing contract, at the end, the wole money sucker seek to bank and government to bail out...

Do you think New PM will bail out this money sucker...?

those atending the AGM next week, please ask the top management present there, whast the grand plan on this company...

and ask them how they recoup the early investor investment...

Alot of early investors stuck at rm 1.2...for years...

I hope they pump up to rm1+ or more...once devidend out, the share price writen off the divend will be around 80 sen+, fall back to previous EWINT share price, and also 80 sen+ which may not look bad on property stock counter...

They need to pay off the early investor, the GUCCO Land (kuok family) and retail investors who invested since day one at rm 1.2....
Just my opinion and hope...

FInger cross...lets pray...

yes, based on what is given in report, depending on the furture sale, its expected rm 900 mil will be distributed to shareholder by late 2023, a i right?

any post mortem on eco-international QR report released yesterday?

吉隆坡29日讯）分析员指出，云顶大马（GENM,，4715，主板消费股）竞标澳门赌牌失败反而是件好事，甚至有助于派发股息。

大华继显研究分析员认为，由于得牌后需付高昂代价，因此，对于目前的结果看法积极。

分析员指出，除去云顶大马，剩余6家竞标公司在澳门博彩业已根深蒂固，并拥有超过20年纪录，在竞标一事本就占据上风。

云顶大马若得标，资本支出估计将达40亿至50亿美元（约180.3亿至225.4亿令吉），如今，云顶大马将拥有更健康的负债率，以专注于资本管理或派发股息。

另一方面，随着新联合政府组成，打消了对博彩业不利政策的疑虑，分析员继续看好博彩业的盈利韧性，维持“增持”评级。

如市场所愿，希盟主席拿督斯里安华担任首相来组织新政府，料为我国带来政治稳定。

报告指出，这也减轻了市场早前的忧虑，对于大选中获得最多议席的伊斯兰党若执政，将对国家治理产生不当影响，并实施针对博彩业的严厉政策。

随着重大不确定性的消除，分析员认为，投资者将重新关注该行业的低估值和历史性高股息。

经历了近期抛售，博彩业的股价已经低于平均估值1至1.5个标准差，周息率达6.7%。

基于博彩业的高股息、最小化下行风险及可预见的国内外催化剂，分析员重申对其“增持”评级。

首选股为云顶大马和云顶，分别给予3.50和5.78令吉目标价

澳门赌牌失利是好事 云顶大马股息更稳当

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E9%87%8D%E5%BF%83%E8%BD%AC%E5%90%91%E8%B5%8C%E5%9F%8E%E4%B8%8E%E7%BA%BD%E7%BA%A6-%E4%BA%91%E9%A1%B6%E8%BF%88%E9%98%BF%E5%AF%86%E5%8D%96%E5%9C%B0%E7%AD%B945%E4%BA%BF

Now more and more protest in CHina, this will pressurize the chinese giverment, soon we can expect a full open border, this will be very good for GENM very soon.

Disclaimer: Just my opinion. not a buy call or sell call.

GIven the notorious human trafficking scandal in Cambodia, GENM should attract many more tourists in near future...and the fact Federal and Pahang state goverment formed, the situation may be favourable for GENM. The QR report aleady show profit...Things can become better and better for GENM, especially if China open border.

Its a very good news GENM failed the MACAU Bid, as it does not have to fork out billions investment for MACAU bid.

Long term wise, it could be good also, as every investment comes with risk. Macau is a very highly competitive market, no one can guarantee GENM will be sure win in long term having succeeded in bidding for GENM. What if GENM make loss?

So think positively, it can be good news too that GENM failed the MACAU bid.

Thanks, will sell for profit. Think enough liau

before it was 6 sen, so when the shark and jerung dump, all those buying now will suffer to 6 sen? any one can advise?

Any suggestion how high the shark will push before dumping to small fish before price collapse?

anybody know when the jerung will throw ticket and sell off? how high the price jerung will push before dumping?

KuOK Families, please come in and request the CEO/COO/CFO to step down, what a shame, share price keep droping from 1.2 to 20-30 sen after 6-7years...

where are you KuoK Families...DO sth.

Sack the imcompetent, no performance CEO/COO/CFO

CEO, COO, CFO, and all top management, please set down pass to competent leaders, or repay all the cash back to shareholders, no more sit on fat pay and no contribution to this company value.

request to them to do like Litrak, distribute cash back to shareholder, and delist.

If i am majorshare holder, i will sack this CEO, COO, and current line up in management team, an shame to the EWINT.

He owe all investors since day one.

Sack this guy, anyone have info on upcoming General meeting, please update us. Some of us can be present there and openly demand him to step down.

Please share on info regarding to to particpate in annual meeting, better if it is physical.
please request CEO and his team to step down...

Either poor planning, and imcompetencies. any stocks have high and low, up and down, this EWINT continous to slump from IPO price till 29 sen now...and imagine 6-7 years since it IPO, at least it should show 1.5 if it is a good investment.

Strip CEO, sack him and his team.
Please alert KuoK family on this incompetent line up.

I think same too, repatriation of funds to shareholders, the bigger portion is better, else the longer it drags on, the cash may burn out due to various reasons whereas the CEO/Directors may not be affected.

Its totally unacceptable, or a failed CEO who lead a listed company from IPO of rm1.2 to now 29 sen.

based on current performance, the share price may go down to 20+ or even 10sen...and no effect on the incompetent CEO/directors, as they on fat pay, the lost in biz never bother these guys...

And most surprising, the cuco land owner-Kuok Family also suffer this big, not sure what share price they subscrbe, not sure if they still hold big, not sure any other things...but if they are still in here, they shoud do something, as biggest share holder, at least kick out the CEO/directors...or propose to wrap up the biz, distribute back the cash etc to shareholders...

we prefer to wrap it up, get back the borrowing money from JVs, and distribute to investors, rather than letting the incompetent CEO/directors/manegers to continue riding on their fat fat remuneration and no performance deliver.

Most shareholders in early days, suffer biggest pain, and the CEO/directors/managers just take it easy. We should sack these incompetent CEO/directors/managers who lead company to holland.

it seems to me that, the mos benefited parties here are the Directors and CEO for this EWINT, who enjoy all types of remunerations, the biggest losers are the shareholders, who invested the hard-earned money, beleiving in this ewint story and dream, and let the incompetent CEOs/managers/director here to roll the biz using our investment...

https://www.barrons.com/articles/natural-gas-prices-europe-51658852026
Natural-Gas Prices Soar to 14-Year High Despite EU Deal

Anyone study how much more Sapu can make out of this soaring gas price...its now few times higher than 2018-19...

Sapulah is producing gas right, so anyone study direct impact on soaring natural gas price?

Wti and Brent Crude resume uptrend...we are nearing Winter soon....
Natural gas price sky rocketing....Europe Energy Crisis in WInter may trigger the natural gas price skyrocketing...

Sapura producing natural gas having own gas field...Prolonged high oil price gonna benefit this company more and more projects...

Could be be a huge turnaround in upcoming months...leveraging on sentiment of potential high ernegy price during winter??

Time will tell...

TauRx may or may not be a catalyst, but even without Taurx, the current share price is too good in my opinion to ignore or give up....

What if Taurx works...it can save lives! this is the most important.

Its still on the rise....what is behind the big buying? what is big fund thinking?

The buy up such huge 40-50 sen a single morning, cannot be from retail buyer...must be some big boss/funds../never mind later it retrieve some....look at the fact, the PE ratio is still low...planation, commodaty, RM-FOreign conversion---GEN resorts... i have no reason to give up on these GENM and GENTING at these values..

@nicholas99...if you look at history price chart, thisis just beginning of the mountain peak...i would not mind the volatility, as long as there is fat dividend...i can also sleep well with this counter...even when we invested at rm 4, where it drop to rm 3, we all could sleep well enough too, to be honest, knowing it will bouce back strongly...

We never worry it went down to rm 4.3 last time...just not worry at all, we all trust LKT will bring back the glorios moment...

last Quarter is based on result Jan-March////whereas our full Opening started in 1 APril...so...next Q should be more promising right?

maybe it will takes some years before it go to RM 10--some may argue if this is good, for me, as long as it gives fat dividend-much higher than bank interest curently at 1.75%,..isn;t that it is very good to sit on an apprecicting stock with potential to go further and further--at same time, enjoying divident hugher than FD rates?

The risk on the other hand by investing in this GENM, is definately much much lower than investing in those penny stocks...we all can sleep even if GENB fall below rm 4 again...LKT not gonna drag us to uncertrainty,....
DIsclaimer: Just my opinion, not a sell call or buy call...

how this gonna be useless paper?, @nicholas99? can go and check the GENB share price in last 15 years...all time low around RM 3-4++...now just shot up from RM 4.7-RM 5...all time high more than RM10, so how this can be useless paper...

Its depend on short run, or middle run, or long run...depends on your TP, holding power...BUt my opinion, Just my opinion, not a buy call or sell, i would like to wait til it go double of current share price.....

Evertyone has thier own strategy...own TP, own gain of choice to sell...so be happy with all decision u made...


DIsclaimer: Own opinion, not a buy call or sell call..

emsvsi-this is what it all means, the current value trading at 0.6 P/B.....sky is limit in middle/lomg run.....

Disclaimer: own opinion, not a buy or sell call..