Heah Kok Boon resigns as EcoWorld’s executive director; appointed as alternate director

KUALA LUMPUR (April 4): Eco World Development Group Bhd (EcoWorld) said Datuk Heah Kok Boon has resigned as the property developer’s executive director, effective Friday (April 1).

In an exchange filing, the group said Heah has now been appointed as the alternate director to EcoWorld’s executive chairman Tan Sri Liew Kee Sin.

Despite the change, EcoWorld said Heah will continue his role as chief financial officer.

Heah, who directly holds 1.61 million shares in EcoWorld, has more than 30 years of experience in audit, corporate finance and corporate investment.

For the first quarter ended Jan 31, 2022 (1QFY22), the property developer’s net profit rose marginally by 1.5% to RM63.36 million from RM62.43 million a year earlier on the back of RM1.28 billion in sales.

Its quarterly revenue increased by 5.1% to RM533.42 million from RM507.35 million, arising from cost savings on completed and near completion phases.

EcoWorld shares settled unchanged at 99 sen on Friday, with a market capitalisation of RM2.91 billion. The stock has risen 16.47% year-to-date.

Edited by Ahmad Naqib Idris

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