ECO WORLD INTERNATIONAL BERHAD
KLSE (MYR): EWINT (5283)
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Last Price
0.605
Today's Change
+0.005 (0.83%)
Day's Change
0.595 - 0.62
Trading Volume
2,148,700
Meeting
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Discussions
6 people like this. Showing 50 of 5,304 comments
Uk housing market very hard to make money. Their local govt very strict in granting new project. Even they approve, they will squeeze you until margin become very thin. Most development need to provide affordable unit to the public.
2 weeks ago
This may be the reason company not making money after selling billions of property in the past 8years. Look at their report, it says more than 17billions sales. But so far not making a single sen net profit of it.
2 weeks ago
17billions is not small figure. If take 1% as profit, it is already 170mil=8sen per share.
2 weeks ago
@risk8888 where do you got the figure of 17 billions in sales and they are not making money?
from annual report, revenue recognised since 2017 ipo is around 1.4 billion. Generated Free Cash flow of 1.7 billion in total.
Financial position improves from net debt of 1 billion in 2019 to net cash in latest qtr
in FY2022 year end, total amount owed by JV is 1.7 billion which could translate to revenue pre write off.
2 weeks ago
How I derive not making money from sales is base on the share of JV profit, u just look at the cumulative retain earning (negative means loss over the years).
2 weeks ago
Now wishing company all the best in cashing out their stock. fast fast lelong out balance unit and bring the cash back to shareholder. after that sell all remaining land and JV. Bring back all money to the shareholder. cukup cover 90% of initial IPO money, really thanks GOD!
2 weeks ago
hi how do you derive the share of jv profit? i couldn't find it in the report. even cash in the JV. what i can get from the report on either dividend from JV or repayment from JV
2 weeks ago
I believe ewint has been making money since IPO but they park inside JV and focusing on the MTN loan repayment. i dont think the boss will distribute most of the cash out to shareholders.. and they even make promise last year which make me thinks that there is a lot of cash inside JV. Also Teow has mentioned they have enough funding for EW London, if not making money from EW ballymmore how to fund to another jV?
2 weeks ago
In the p&l can see share profit JV. In balance sheet can see from investment in JV. JV was once profitable in 2019/2020. Later, all profit wipe off with impairment due to high holding cost in unsold units. All in all, not making money since then.
2 weeks ago
If you want to see the detail in JV. There are disclosures in annual report where u can see the details, frankly not impress at all.
2 weeks ago
Uk sales is recognised upon sold. it is built them sell concept. the co has to recognise the cost during construction period
2 weeks ago
If you base on current mkt price 0.5, 0.38 div is very attractive. However if you bought during IPO @1.20. Now really crying.
2 weeks ago
The dividend can be higher looking at the exchange rate. Really hope the rate sustain until Year end.
2 weeks ago
EGM for capital reduction is fixed for 19 Jun. see their/bursa website for details
1 week ago
@arsenal93 the working capital funding is mentioned during their recent AGM. you can write to the management for clarification.
6 days ago
i attended the agm.. from i understanding they have enough capital fund to run the rest of projects even after distribution of 900 mil this year and 400mil upcoming year. IF they hit the sales target
4 days ago
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...
3 days ago
@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
3 days ago
its quite obvious already they intend to distribute total up to 1.3b special dividend in the upcoming year. based on my understanding of 1.5b share cap reduction.
2 days ago
that's why im asking is it possible to go back ipo price or even higher. global recession is coming but as long as they hit sales target i have no concern on this
2 days ago
for me aslong as you keep this invesstment for 2 years you will get back almost 95% of fund based on current share price. again only if they hit sales target. based on the latest announcemnt they are 41% of this year sales target (566.4/1.4b). stay tune guys
2 days ago
not sure how high the price can go but at least it's almost 0 cost to enter now.
2 days ago
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Hopefully sustainable recovery on home sales
https://www.reuters.com/world/uk/uk-house-sales-pre-covid-levels-after-mini-budget-shock-rightmove-2023-04-11/
https://www.telegraph.co.uk/property/house-prices/uk-house-prices-rise-april-2023-nationwide/
2 weeks ago