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EcoWorld Malaysia hits 88% of FY2021 sales target in 7 months

PETALING JAYA (June 24): EcoWorld Malaysia announced its achievement of RM1.32 billion sales in 2Q2021, which is almost double the sales of RM706 million achieved in 1Q2021 today. This means that it has also reached 88% of EcoWorld Malaysia’s full year FY2021 sales target of RM2.875 billion.

Klang Valley projects took the largest portion of the sales share at RM1,541 million, followed by Iskandar Malaysia at RM718 million and Penang at RM271 million.

Its group president and CEO Datuk Chang Khim Wah (pictured) said that they are particularly encouraged by the fact that recovery has been broad-based with their projects in every single region performing well. 

“We received strong take-ups on all the new projects and products launched in 2Q2021, namely Eco Botanic 2 in Iskandar Malaysia, Co-Home at Eco Horizon and Eco Grandeur and the second phase of ErgoHomes & Garden Homes at Eco Forest.

“Furthermore, there is continued strong demand for the group’s industrial business parks. As at May 31, 2021, total sales achieved by the group’s four Eco Business Park Projects amounted to RM227 million, which is already higher than RM220 million achieved for the full financial year 2020.

“This encouraging result, currently driven mostly by local business owners and industrialists, suggests that there are sectors of the Malaysian economy that are continuing to grow even amidst the challenges posed by Covid-19,” said Chang in a statement today.

Meanwhile, he added that once the Full Movement Control Order (FMCO) is lifted and travelling restrictions are relaxed, both consumer and business confidence will recover strongly.

“When that happens, the positive sales momentum which EcoWorld Malaysia has been able to sustain over the last four consecutive quarters, notwithstanding various repeated MCO restrictions, will certainly receive a further boost leading to improved prospects for the group going forward,” said Chang. 

Including EcoWorld Malaysia’s share of future revenue from EcoWorld International, total future revenue from projects undertaken in Malaysia and overseas stands at RM4.21 billion as at May 31, 2021.

The group is also in the midst of actively pursuing the establishment of a corporate vaccination programme, based on the available options announced to date by the Federal and State governments, to help accelerate vaccination for their staff. 

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