• The stronger earnings were mainly driven by the RM402.3 million sale of 123 acres of industrial land at the QUANTUM Edge business park to Microsoft Payments (Malaysia) Sdn Bhd, as well as full contributions from Paragon Pinnacle Sdn Bhd—developer of Eco Grandeur and Eco Business Park V—which became a wholly-owned unit following Eco World Development’s acquisition of the remaining 40% stake from Employees Provident Fund’s (EPF) Tanjung Wibawa Sdn Bhd.

KUALA LUMPUR (June 26): Eco World Development Group Bhd (KL:ECOWLD) said it is well on track to exceed its RM3.5 billion sales target for the financial year ending Oct 31, 2025 (FY2025), after posting record-high earnings in its latest quarterly result.

Net profit for Eco World Development’s second quarter ended April 30, 2025 (2QFY2025) surged 85.3% to RM129.83 million from RM70.05 million a year earlier, as revenue jumped 58% to RM878.2 million from RM555.76 million.

The stronger earnings were mainly driven by the RM402.3 million sale of 123 acres of industrial land at the QUANTUM Edge business park to Microsoft Payments (Malaysia) Sdn Bhd, as well as full contributions from Paragon Pinnacle Sdn Bhd—developer of Eco Grandeur and Eco Business Park V—which became a wholly-owned unit following Eco World Development’s acquisition of the remaining 40% stake from Employees Provident Fund’s (EPF) Tanjung Wibawa Sdn Bhd.

Other contributors included Eco Botanic, Eco Spring, Eco Tropics, Eco Business Parks I and III in Iskandar Malaysia, and Eco Majestic, Eco Forest, Eco Sanctuary and Se.Duduk D’Kajang in the Klang Valley.

The group declared a second interim dividend of two sen per share, to be paid on July 25. This brings its total payout for the first half of FY2025 (1HFY2025) to three sen—up from two sen in the same period last year.

For 1HFY2025, Eco World Development’s net profit rose 50.5% to RM210.18 million from RM139.68 million, while revenue climbed 29.7% to RM1.42 billion from RM1.09 billion.

As of May 31, 2025, it had achieved RM2.99 billion in sales—or 85% of its full-year target—37% higher than the same period last year.

“This has enabled the group to chart an all-time high in our future revenue position which stands at RM5.22 billion as at 31 May 2025,” Eco World Development said.

Iskandar Malaysia projects led with RM1.67 billion in year-to-date sales, followed by Klang Valley (RM1.02 billion) and Penang (RM302 million).

Eco World International eyes asset monetisation amid UK headwinds

Eco World International Bhd (KL:EWINT), meanwhile, flagged the UK’s challenging property market, citing high interest rates and geopolitical tensions which continues to dampen buyers’ sentiment.

The group is refining development plans to improve project viability and is exploring the monetisation of long-gestation assets to reinvest in nearer-term, revenue-generating opportunities.

Eco World International posted a net profit of RM2.3 million in 2QFY2025, compared to a net loss of RM14.13 million a year ago. The profit was attributed to a lower impairment loss on the amount owed by its Eco World London joint venture (JV), reduced staff costs, higher foreign exchange gains from shareholder advance repayments, and stronger contributions from its EcoWorld-Ballymore JV.

No revenue was recorded for the quarter, as all residential units in its Australian projects — West Village and Yarra One — were sold in FY2024, leaving only one commercial unit. This compares to RM151,000 in revenue in 2QFY2024.

No dividend was declared for the quarter.

For 1HFY2025, its net loss narrowed to RM1.46 million from RM13.95 million a year ago. With no revenue recorded during the period, Eco World International said it is reviewing the feasibility of its remaining sites in the UK and Australia before launching new projects.

As at end-May, it registered RM149 million in total sales (including RM51 million in reserves), with RM98 million booked in 2Q. Unsold completed units stood at RM168 million in value, comprising 60% commercial and 40% residential units, which it aims to sell within FY2025.

Eco World Development closed two sen or 1.04% lower at RM1.90 on Thursday, giving it a market capitalisation of RM5.65 billion.

Eco World International ended half a sen or 1.54% lower at 32 sen, valuing it at RM756.71 million.