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Market Daily Report: Profit-taking Ends Bursa Malaysia's Five-day Winning Streak

KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst.  At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25.  The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended.  Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.  
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EcoWorld Targets Up to 30% Recurring Income Growth Over Next Five Years — CEO

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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