Eco World records RM2.02b sales in first half of FY2021

In a filing with Bursa Malaysia today, the property developer said RM706 million sales were recorded in the first quarter of financial year 2021 (1Q21) and sales were even stronger in the second quarter (2Q21) with RM1.3 billion achieved in this most recent quarter. — Bernama pic
In a filing with Bursa Malaysia today, the property developer said RM706 million sales were recorded in the first quarter of financial year 2021 (1Q21) and sales were even stronger in the second quarter (2Q21) with RM1.3 billion achieved in this most recent quarter. — Bernama pic

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KUALA LUMPUR, May 24 — Eco World Development Group Bhd recorded RM2.02 billion sales in the first half of financial year 2021 (1H21) from November 1, 2020 to April 30, 2021.

In a filing with Bursa Malaysia today, the property developer said RM706 million sales were recorded in the first quarter of financial year 2021 (1Q21) and sales were even stronger in the second quarter (2Q21) with RM1.3 billion achieved in this most recent quarter.

President and chief executive officer Datuk Chang Khim Wah said the launch of the Eco Botanic 2 project in Iskandar Malaysia along with the new co-Home product at Eco Horizon and Eco Grandeur and the second phase of ErgoHomes & Garden Homes at Eco Forest contributed to the sales achieved.

“With regard to our sales target for FY21, we are confident that we will be able to reach the RM2.875 billion set for the year. The RM2.02 billion already locked in for 1H21 is a positive lead indicator of continued steady cash inflows from operations,” he said.

He said along with continued financial discipline and cost efficiencies being reaped from ongoing digitalisation of operations, the company is well positioned to achieve its financial goals and objectives.

He added that the company also experienced steady sales across nearly all its ongoing projects in the Klang Valley, Iskandar Malaysia and Penang.

Further details on the company’s performance in 1H21 will be discussed in the announcement of 2Q21 scheduled towards the end of June 2021. — Bernama

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