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KLCI Slides as Profit-Taking Hits Blue Chips, Ringgit Holds Firm

Malaysia’s benchmark index retreated as  profit-taking in key heavyweights  weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI :  1,684.93 (-0.83%) FBM Mid 70:  -0.00% (flat) FBM Small Cap:  -0.23% FBM ACE:  +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume:  3.54 billion shares Total value:  RM4.19 billion Gainers:  456 Losers:  678 Unchanged:  550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY)   +1.54% Petronas Gas (6033.MY)   +1.18% Sunway (5211.MY)   +1.15% Losers Hong Leong Bank (5819.MY)   -3.29% Maybank (1155.MY)   -3.02% CIMB (1023.MY)   -2.47% Banking sector weakness was the main ...
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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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