KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Key Growth Strategy
- Eco World Development Group Bhd (KL:ECOWLD) aims to increase recurring income from 20% to 30% of total revenue within the next three to five years, according to President and CEO Datuk Chang Khim Wah.
- Growth will be driven by five key business pillars:
- Eco Hubs (commercial spaces)
- Eco Business Parks (green industrial parks)
- Quantum (data centres)
- Eco Townships (landed residential homes)
- Eco Rise (high-rise developments)
- Quantum, which focuses on large-scale data centre-related land leases, is one of the group's fastest-growing segments.
Expansion in Data Centre Leasing
- EcoWorld has secured four industrial land lease deals worth RM1.59 billion since August 2024 with global tech giants Microsoft and Google.
- The latest deal, announced Tuesday, involves a 20-year, RM266.1 million triple-net lease with Google's affiliate, Pearl Computing Malaysia Sdn Bhd, for 92 acres of land.
- Despite its data-centre expansion, EcoWorld emphasized that it remains a real estate business, not a technology player.
- “We are not in the data business. It's a pure land transaction,” Chang clarified.
No Plans for Special Dividend
- Despite achieving record-breaking RM4.07 billion sales in FY2024, EcoWorld has no plans for a special dividend.
- Instead, the group will maintain or increase regular dividend payouts, similar to previous years.
- FY2024 dividend remained at six sen per share.
- The decision aligns with EcoWorld’s strategy to reinvest capital into land acquisitions, build-and-lease projects, and expansion.
Financial Performance & Market Position
- Net profit surged 60.33% YoY to RM303.54 million in FY2024, compared to RM189.32 million in FY2023.
- Annual revenue remained steady at RM2.26 billion.
- EcoWorld’s share price closed at RM1.96, up one sen (0.51%) on Wednesday, valuing the company at RM5.8 billion.
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