ECO World Development Group Bhd (EcoWorld) and its 27%-owned associate and international arm, Eco World International Bhd (EWI), beat market expectations to post solid fourth-quarter revenue and profit last week, buoyed by a strong all-round performance for the financial year ended Oct 31, 2019 (FY2019).
This is just the start for EcoWorld CEO Datuk Chang Khim Wah and EWI president Datuk Teow Leong Seng, who plan to break more records.
For one, shareholders of EcoWorld and EWI can look forward to a cash windfall as the two companies are targeting to declare a maiden dividend in FY2020.
More importantly, the record earnings, which are arguably all that matters, should allay investors’ recent concerns over EcoWorld’s debt level, which is relatively higher than its peers.
“If you look at our results this year, our gearing is coming down, our cash position has improved, our sales performance has been very consistent while our future revenue and earnings visibility remain strong. We are optimistic that FY2020 will be an even better year for us and that the best is yet to come,” Chang told a news conference to announce the group’s financial results for the fourth quarter ended Oct 31 (4QFY2019) last Thursday.
“Considering that most of the heavy-lifting and infrastructure for all our existing projects have more or less been completed, we just have to continue to innovate and stay relevant to the market’s needs,” he said.
As at Oct 31, EcoWorld’s net gearing position was 0.70 times, compared with 0.77 times a year ago. Shareholders’ funds totalled RM4.538 billion while net asset per share has steadily increased to RM1.54 for FY2019 from RM1.47 in FY2018.
Chang says as much as EcoWorld intends to reduce debt, its gearing ratio remains manageable. “Of course, who doesn’t want to be at 0.1 times or 0.2 times? But for a six-year-old company like ours, we have 18 active projects and over RM5 billion in future revenue ... we are not overly concerned about our gearing.”
Fundamental need not to say..the article CEO is telling you Debt Reduced Next year profit stable Next year sales target confident to archive Next year hint Johor(HSR) Next year dividend 5+billion unbill revenue at Ecowld 5bil+ unbill revenue at Ecoworld International(27%) 2020 will be bettee than 2019(hint)
history told you Johor property overhang but Ecoworld sales bery good history told you 2019 profit
kelian onot? everyday cry father cry mother... wait show wait boat... learn from yeochingu la... do what you believe... believe what you do... dont need everyday wash this thread with fake hope... steady like yeochingu... what so difficult? why so difficult?
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yeochingu
1,907 posts
Posted by yeochingu > 2019-12-21 23:59 | Report Abuse
Chris Wong heard there is takeover come soon
21/12/2019 10:50 PM
Heard from who?
Who take over who?