EcoWorld International recorded Profit After Tax of RM38.2 million in 3Q 2020 mainly due to revenue and profit recognition of the Group’s maiden project in Australia, West Village following completion and commencement of handover of units sold to customers.
• Handover of Wardian London has also commenced in 4Q 2020. The first batch of completion notices were issued to purchasers in August 2020 with more to follow in the next several months. This will enable profit recognition on the units handed over to be recognised in the upcoming quarter.
• During the third quarter, EcoWorld International witnessed sustained interest in its London projects from both local and foreign purchasers.
Including Australia, the Group’s total sales as at 31 August 2020 has exceeded RM1 billion, 40% higher than the sales recorded in the same period of FY2019.
This enabled the Group’s effective future revenue position as at 31 August 2020 to remain high at RM3.94 billion.
• The Group expects the sales momentum to date to continue in the remaining months of 4Q2020. EcoWorld International’s latest launch of The Modern, the final phase of its Embassy Gardens project,
saw 47 units valued at RM228.2 million sold in a single weekend, a very encouraging sign
that demand for good properties in London is still strong. Management is also pursuing a sizeable Build-to-Rent (BtR) deal in the UK and hopes to close the transaction in the near future.
ECO World International Bhd’s (EWI) 75:25 joint venture with Irish property developer Ballymore Group is a step closer to completing its Wardian London project, which has a gross development value of £566 million. The project is adjacent to Canary Wharf.
@nekosaan, judging by how persistent in you trying to encourage people to dispose the shares since last year. Either you have lost a great deal of money in this counter, which you do not want to enter into the counter again, but at the same time you do not want other people to earn money from this counter as it will prove that your earlier decision was unwise, OR you know something that we don't. Otherwise, i do not see any reasons for someone like you to comment relentlessly on just these few counters such as AAX, Gpacket, and EWINT.
Yes, the counter is trading in an underperforming way, but its revenue and profit recognised so far hasn't been disappointing. In this case, i do not see any reason for you think that this stock is HABIS.
Agree with green_trade, any operating businesses or investment should not look merely on its share prices alone but how the company carrying out their business advancement, performance and future planning. Someone should have No reason really No reason to put his own baseless judgement above the fact and figure. Even a musang king durian tree need a lease 3-4 years to grow after planting.
"Given the steady stream of handovers over the next few quarters, we are therefore on track to see a substantial portion of our future revenue of RM3.94 billion translated into revenue and profits in the near term," Teow said.
Jernih Padu Sdn Bhd (JPSB), the private vehicle of Eco World Development Group Bhd’s executive chairman Tan Sri Liew Kee Sin, has sold 14.25 million shares, or a 0.48% stake.
JPSB ceased to be the substantial shareholder after the share disposal on Sept 28, according to the latest filing.
hmmm......the private vehicle oni owned 0.48% of the ecoworld. Meaning if ecoworld hold 28% of ewint, it just dispose 0.13% of ewint shares. I think there will be some corporate exercise going on la.....u see the changes of shares number......not sure la....just speculate.
Previously goreng on different accounting policies of other countries that led to defer in posting profit, now is still on? Winners most often went to those promoters or offerers of IPOs.
i dun understand why this ecoworld stock drop so much since their housing all very nicely built! malaysia should appreciate this kind of developer not like those keep raising super low cost housing with no sense of design!
greentrade_100 @nekosaan, judging by how persistent in you trying to encourage people to dispose the shares since last year. Either you have lost a great deal of money in this counter, which you do not want to enter into the counter again, but at the same time you do not want other people to earn money from this counter as it will prove that your earlier decision was unwise, OR you know something that we don't. Otherwise, i do not see any reasons for someone like you to comment relentlessly on just these few counters such as AAX, Gpacket, and EWINT.
Yes, the counter is trading in an underperforming way, but its revenue and profit recognised so far hasn't been disappointing. In this case, i do not see any reason for you think that this stock is HABIS. 25/09/2020 3:00 PM
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
supersaiyan3
3,134 posts
Posted by supersaiyan3 > 2020-09-24 17:39 | Report Abuse
Look very nice to me.