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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.

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...

EcoWorld Shares Hit Seven-Week High After Strong 3Q Results

  Eco World Development Group Bhd (KL ) saw its shares rise to their highest level in seven weeks on Friday, following the release of better-than-expected third-quarter results . The stock climbed three sen (1.7%) to RM1.77 , its highest since August 1, 2024. As of 9:06 am, the stock traded at RM1.76 , giving the company a market capitalization of RM5.19 billion , with a trading volume of 594,400 shares. For the nine months ending July 31, 2024, EcoWorld's core net profit accounted for 82% of consensus full-year estimates . Additionally, the company has surpassed its own full-year sales target , leading analysts to increase their earnings forecasts . UOB Kay Hian raised its net profit forecast by up to 12% for FY2024-FY2026 , predicting that sales will reach RM3.8 billion by the financial year-end in October 2024. The research house also boosted its target price for EcoWorld to RM2.10 , maintaining a 'buy' call, citing the company’s improving balance sheet , return on e...

Eco World Development - A good start

First launch for 2016 well received The successful launch of 750 units of Karisma apartments at Eco Majestic with a 85% booking rate marks a good start. ECW remains confident of its ambitious sales target of MYR4b for FY10/16. Surprises could come from potential enbloc sales at its BBCC project. We maintain our earnings forecasts and MYR1.67 RNAV-TP (on an unchanged 40% discount to RNAV) pending the release of its 1QFY10/16 results on 24 Mar. Reiterate BUY. First affordable apartments at Semenyih We recently visited the official launch (buyers’ unit selection session) of ECW’s first high-rise affordable apartment project - Karisma - at Eco Majestic (EM), Semenyih. The Karisma comprises 750 units of freehold apartments (800 sq.ft.; ≈MYR325psf ASP) which are now 85% booked since the soft-launch in mid-Feb 2016. The Karisma apartments form the 7th phase of the EM project which has a total GDV of MYR11b. Phase 1-6, which offered 2,100+ units of landed properties, was lau...