Eco World Group Development Bhd achieved a pre-tax profit of RM63.364 million on the back of a turnover of RM533.423 million for the first quarter ending January 31, 2022, from a pre-tax profit of RM73.112 million on the back of a turnover RM507.353 million from the same period last year.
“EcoWorld Malaysia’s performance in the 1st four months of FY2022 has been very encouraging. Sales in all three geographic regions grew strongly as compared to the same time last year with the highest percentage of increases recorded by our projects in Iskandar Malaysia (up by 194%) followed by Penang (up by 110%). Our Klang Valley projects also did very well with RM709 million achieved –this represents 56% of total Group sales up to 28 February 2022,” said Dato’ Chang Khim Wah, President & CEO of EcoWorld Malaysia.
The Group noted that the cessation of the Government’s Home Ownership Campaign (HOC) on 31 December 2021 did not have any noticeable impact on its sales momentum which continued to be sustained throughout January to February 2022.
“We are especially pleased with the very strong sales boost received from good take-ups of new phases launched. Over the last two years, we had been working hard to expand our product mix and customer base with a focus on attracting new homebuyers and young families that form the bedrock for the long- term growth of vibrant townships.
Whilst this will continue to be an important market for us, we have always had a strong following of purchasers looking for upgrader and luxury homes. Our launches over the last few months are geared towards serving the needs of this more aspirational market and we are delighted with the response received to date,” said Chang.