KUALA LUMPUR (Feb 27): Ekovest Bhd’s net profit jumped 33.86% year-on-year to RM54.93 million in the second quarter ended Dec 31, 2017 (2QFY18) from RM41.03 million on the back of better contribution from its property development segment.

Earnings per share grew to 2.57 sen in 2QFY18 from 1.92 sen a year ago, the company announced this evening. Quarterly revenue climbed 8.34% to RM297.88 million from RM274.96 million.

Ekovest said its construction sector achieved lower revenue and profit before interest and tax in 2QFY18, mainly due to the completion of phase two of the Duta-Ulu Klang Expressway, resulting in lower progress construction workdone.

The property development segment saw higher sales recognition due to increased progress of work done which raised profit before interest and tax to RM23.31 million for 2QFY18 compared with RM6.32 million in 2QFY17.

As for toll operations, Ekovest registered lower revenue of RM36.18 million in the quarter under review, compared with RM37.64 million revenue in 2QFY17, which included a one-off toll compensation of RM7.97 million. “Had the compensation amount been excluded, the 2QFY18 revenue would have been higher by RM6.52 million,” Ekovest explained.

For the cumulative six months ended Dec 31, 2017 (6MFY18), net profit went up 16.89% to RM94.83 million compared with RM81.13 million while revenue grew 10.45% to RM528.52 million from RM478.50 million in 6MFY17.

The board expects the ongoing construction of the Setiawangsa-Pantai Expressway, River of Life and related projects, the opening of the DUKE Phase-2’s toll revenue and the recognition of unbilled sales from property development activities to contribute positively to its turnover and profitability in the financial year ending June 30, 2018 (FY18).

Barring unforeseen circumstances, Ekovest is confident its performance would remain satisfactory for FY18.

Oh sorry almost RM 55 million after tax and minority charges.

wow 54 million profit lah?

Most probably this jokers will drag the merger and later will announce that it is cancelled. Same as Iwc-IWh.

Ngng, as per announcements, Iwcity will be delisted if Ekovest take over deal is successful. In this case, there is no bridge to connect Ekovest to IWH.

May your wish come true. Hip hip hooray.

However, I wish to say that anything can happen. Bolehland

IWH is having their plans to be listed in the later stage.

Ekovest is not buying the land belonging to Perbandanan Rakyat Johor. Ekovest is only buying the land that belongs to IWC

Sorry to say that the land belonging to Rakyat Johor has been isolated to IWH, a different entity.

Ha ha ha 31.5 today. Want to buy?

Govt was almost certain to pass this deal to Wanda Dalian for almost 10B as agreed. Unfortunately Wanda was in financial distress. If Ekovest is considered the Tan Sri will issue the letter of release happily.
Btw, the Dalian deal is thro Malton.

Mof is firm that IWh failed to do payment and hence the termination and done. If at all what to reconsider Tan Sri Lim, then Govt must come back door thro Ekovest.
Mof want to loose face in this deal? No way.

That rule does not work here.

Public investment Bank says it a beginning. Why sell?

Malton surely got a hand in BM for sure. You know who is Malton for.................?

Looks like it may close above 32 cents today.

Alright will do.
TP by UOB 42.5/ TA- 46cents/ PBB- 51cents
Awesome.

Thanks Faisal.

Yes agreed bursaking

What is pbb’s tp,

Mr 31.5, what’s your comment, bull?

It’s 31.5 cents, what’s wrong holding?

It’s 31 cents. What’s wrong holding?

Yes, expect for another based on the results

There is still time for the proposal to be done. If they push up to 1.50 now, then naive people will sell and pack off.

Vein82k6, you may be very very right on your comment.
IWC shareholder have to convinced and so it has to be what you commented.

Mr 0.315.. buy or you will regret the rest days.

Spark plug head dirty.

Main supply cut. Starting genset

Show is about to begin ha ha ha

This type of pattern indicates for a show today. Hopefully.

Looks like.

This stock needs bloody patience.

Ah, can buy some more.

Market poor sentiment lah

Ultimately that consortium would be finalised.
Currently there is no any choice left.

May jump up today?

Is it a sign of breakout?

It should be also.

Their Moola doing very well according to the Edge weekend.

Blocks taken very big. Cannot be ikan bilis or syndicates. PW materialising.

Institutional buy.

Date. Vol(‘000). Price. Value Trded(RM’000)

Feb9. 470.2. 0.23. 108.146

Feb 8. 466. 0.235. 109.51

Feb 8

From Feb 8 to Feb 12, there has been block trades, institutional transactions of 10,000 shares or more.

Ha ha ha . I can only see foolishness and greediness here.
Those who have bought, please hold.
I know how much profit the made this quarter.
Don’t ask me how much but a good percentage compared to earlier.

Wait for 20 cents loh, then you will know 13 days lah.

Tan Sri say no show today. Want to spend the money for Geylang show during CNY.

Haiya, 2.5 cents going south meh??? This is the first time I am listening like this. What a joke.

Let the game start............