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.
Equity Analysis /Malaysia
MY : Eco World Development Group Bhd - Strong new property sales momentum
Siew Teng NgoFollow
Research Analyst @ CGS-CIMB