Equity Analysis /
Malaysia

MY : Eco World Development Group Bhd - Strong new property sales momentum

    Siew Teng Ngo
    Siew Teng Ngo

    Research Analyst

    CGS-CIMB
    25 March 2022
    Published by

    1QFY10/22 core net profit came in above estimates, largely lifted by the realisation of cost savings of completed/near-completion projects. 1QFY22 new property sales of RM1.09bn made up 31% of its FY22F new sales target of RM3.5bn. Reiterate Hold with a higher TP of RM1.01.