Daily Digest · Friday, 19 June 2026· Updated: about 2 hours ago
EcoWorld sales surge as data centres and land deals drive Malaysian property boom
Eco World Development Group closed seven months of FY2026 with RM3.28 billion of sales, 82% of its full-year target, while Paramount Corp sealed a RM257.9 million Jalan Ampang land deal with IOI Properties, underscoring the twin themes of industrial–data centre demand and land monetisation. The window runs through this morning and also captures a Sunway Construction data centre order boost, progress on Port Klang’s third terminal, a SkyWorld award and a Kedah commercial hub.
Quick takes
- EcoWorld Development: RM3.28 billion sales in the first seven months of FY2026, 82% of its RM4.0 billion target; 2QFY26 PAT of RM138 million and a 2 sen second interim dividend.
- EcoWorld's industrial push: Future revenue hit a record RM5.38 billion, with industrial and data centre land contributing RM1.15 billion, or 35% of year-to-date sales.
- Paramount–IOI: Paramount completed a RM257.9 million cash purchase of a 3.7-acre serviced-apartment site off Jalan Ampang from IOI Properties, essentially in line with a RM258 million valuation by Henry Butcher.
- SunCon: Sunway Construction accepted RM664.4 million of variation orders for two Johor data centre substation jobs, lifting their total value to RM865.6 million and taking its outstanding order book to about RM8.8 billion.
- Port Klang 3: Selangor is finalising land for the Carey Island third terminal, which Transport Minister Anthony Loke says could start construction this year under a build–operate–transfer model.
EcoWorld sales surge to record RM3.28 bil on data centre demand
Eco World Development Group reported RM3.28 billion in sales for the seven months ended 31 May 2026, a record pace that already covers 82% of its RM4.0 billion FY2026 sales goal. Second-quarter profit after tax came in at RM138 million, and the board declared a 2 sen second interim dividend.
First-half FY2026 revenue and gross profit rose 52% and 43% year-on-year respectively, helped by three industrial land disposals totalling 253.8 acres at Eco Business Park I, QUANTUM Edge and Eco Business Park V. The group held its 2Q gross margin at 31.3%. First-half PAT climbed 45% to RM303.5 million, while future revenue – its measure of contracted but unrecognised sales – reached a record RM5.38 billion as at 31 May 2026. Net gearing stood at 0.22 times at end-April.
Iskandar Malaysia contributed RM1.66 billion, or 51% of year-to-date sales, with the Klang Valley and Negeri Sembilan delivering RM1.45 billion and Penang RM168 million. Industrial projects, spanning Eco Business Parks and the QUANTUM data centre and high-tech cluster, generated RM1.15 billion, or 35% of group sales, with seven-month industrial sales already at 94% of FY2025’s tally. In April, EcoWorld sold the final two parcels at QUANTUM Edge, totalling 49.588 acres, to KNBDC Malaysia Five Sdn Bhd for RM281 million, taking cumulative hyperscaler land sales across its parks above RM1.87 billion. President and CEO Datuk Chang Khim Wah flagged broad-based demand ahead of the launch of the 935.241-acre Eco Business Park 8 in Kulai, a JV with SD Guthrie and Permodalan Darul Ta’zim.
Why it matters
EcoWorld is now within touching distance of its full-year sales target with five months left, and record future revenue provides multi-year earnings visibility. The numbers underline how industrial and data centre land – concentrated in Iskandar Malaysia – has become the core growth engine for a developer once best known for townships.
Paramount expands into Jalan Ampang KL city living
Paramount Corp Bhd closed its acquisition of a 3.7-acre freehold parcel off Jalan Ampang in Kuala Lumpur from IOI Properties Bhd for RM257.9 million cash. The price for Lot 20009, Seksyen 89A, tracks Henry Butcher Malaysia’s independent valuation of RM258 million under the comparison method.
The sale and purchase agreement, signed on March 18, came with a development order already in place for two blocks of serviced apartments, and the land’s title restricts use to that product type. Paramount, buying via a wholly owned vehicle, plans to put up two serviced-apartment towers on the site, extending its presence in the Kuala Lumpur city centre, where it has previously launched high-rise residential schemes. Funding will come from internal cash and bank borrowings.
On the funding side, Paramount’s financing arm issued RM232.1 million of Sukuk Murabahah on June 16 under its RM800 million programme, raising total outstanding sukuk to RM347.9 million, while executive director Benjamin Teo Jong Hian accumulated 102,600 shares between June 12 and June 15. For IOI Properties Group, the disposal feeds into a wider land-monetisation strategy that has seen earlier sales in Banting and Johor. MBSB Research had estimated in March that the Jalan Ampang deal alone could lift IOI Properties’ FY2026 net profit by about 17%, assuming a 60% gross margin.
Why it matters
The completion gives Paramount a shovel-ready prime CBD-fringe site with approvals in hand, while IOI Properties crystallises value from land banking and shores up cash. The transaction fits the pattern of developers rebalancing from land-heavy balance sheets towards recurring earnings and capital recycling.
Also on the radar today
SunCon’s Johor data centre jobs swell; contracts climb to RM865.6 million
Sunway Construction Group Bhd agreed to variation orders worth RM664.4 million for two data centre–related substation projects in Johor. The adjustments lift the combined contract value to RM865.6 million, with one project scheduled to complete in 4Q2027 and the other in 2Q2028. New orders this financial year now total about RM4.2 billion and the order book stands at roughly RM8.8 billion; trading in the shares was briefly halted on June 18.
Port Klang’s third terminal edges forward as Selangor moves to settle land
Selangor is finalising land allocation for the first phase of Port Klang’s third terminal on Carey Island, Transport Minister Anthony Loke Siew Fook said on June 18. The Cabinet approved the project in March, and the state had earlier earmarked around 1,699 hectares for the port. The concession is planned under a build–operate–transfer model, with Selangor leading via a special purpose vehicle and the Transport Ministry acting as regulator.
SkyWorld extends FIABCI streak with fourth straight world award
SkyWorld Development Bhd picked up a World Silver Award at the FIABCI World Prix d’Excellence for SkyAwani 5 Residences in Sentul in the affordable housing category, its fourth consecutive year of world-level awards. The project spans 2.06 acres with 615 units, following earlier wins for SkyAwani 2, SkyAwani 3 and SkyLuxe On The Park.
Bina Darulaman’s RM41.5 mil Jitra commercial hub
Bina Darulaman Bhd’s property arm BDB Land plans the Darulaman Commercial District in Jitra, Kedah, a RM41.5 million GDV scheme comprising 45 shop offices and a new corporate building. EdgeProp says the Kedah-linked developer pitches the project as supporting commercial activity in the district.
Today's roundup
EcoWorld’s RM3.28 billion in seven-month sales and record RM5.38 billion future revenue highlight how industrial and data centre land are reshaping its earnings profile. Paramount’s RM257.9 million Jalan Ampang land completion hands it a prime, approval-ready city-centre site as IOI Properties Group continues to recycle land into cash. Sunway Construction bulked up its Johor data centre substation work to RM865.6 million, Selangor moved closer to unlocking Carey Island for Port Klang’s third terminal, SkyWorld extended its FIABCI winning run, and Bina Darulaman mapped out a modest commercial hub in Kedah.
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