Daily Digest · Thursday, 24 September 2026· Updated: 4 days ago
EcoWorld sales pass RM5b; Kertih industrial park gains MIDA support
EcoWorld reported stronger third-quarter earnings and said its sales total had passed RM5 billion after including a conditional industrial land deal signed on Tuesday. In Terengganu, MGB secured MIDA support for its Kertih industrial park as it seeks an anchor tenant.
Quick takes
- KL luxury transactions led by Taman U-Thant bungalow: EdgeProp EPIQ’s review of the latest available NAPIC records found that a bungalow on Jalan Langgak Golf changed hands for RM70.5 million, the highest of nine Kuala Lumpur residential transactions in its current ranking. Eight of the nine properties were bungalows. The records are a snapshot: later NAPIC batches could change the order.
- Paragon Globe plans to develop more of its Johor landbank around anchor occupiers while selectively selling land. It cited projects and transactions announced previously in Iskandar Puteri, Sedenak and Tanjung Kupang. Wednesday’s statement disclosed no new committed occupier or transaction.
- OSK Property and construction partner Multiplex broke ground on Aura, a 67-storey, A$800 mil residential tower at Melbourne Square in Southbank, targeted for completion in early 2030.
- PropNex Malaysia is adding properties to its Sept 26–27 open house, with 19 in the Klang Valley and one in Penang. The selection includes homes and a shoplot.
EcoWorld’s 3Q profit rises as sales total passes RM5b
Eco World Development Group Bhd’s net profit attributable to shareholders rose 10.9% to RM112.16 million for the quarter ended July 31, 2026, from RM101.17 million a year earlier. Revenue increased 27.5% to RM971.53 million as the group recognised more previously secured property sales.
EcoWorld also reported profit after tax of RM120.8 million, up 20%. That is a different measure from the RM112.16 million attributable net profit: the two figures should not be used interchangeably. The developer recorded RM4.05 billion in sales by Aug 31, exceeding its RM4 billion target for the financial year ending Oct 31. It said the total had reached approximately RM5.06 billion after including the RM1.01 billion agreement signed on Sept 22 to sell industrial land at Eco Business Park 7 in Negeri Sembilan to Tera Data Centers (Malaysia) Sdn Bhd. That land sale remains conditional. EcoWorld said future revenue stood at RM5.01 billion as at Aug 31.
The board declared a third interim dividend of two sen per share, bringing dividends declared for FY2026 so far to six sen per share.
Why it matters
EcoWorld has exceeded its original sales target, with a substantial lift from industrial land. The Tera agreement contributes to the sales figure the company is now reporting, while its conditions and eventual completion remain important to track.
MGB’s Kertih park receives managed industrial park support
MGB Bhd’s Kertih Terengganu Industrial Park (KTIP) has received support under the Malaysian Investment Development Authority’s Managed Industrial Park framework. MGB says it is the first park with that status on Malaysia’s East Coast. MGB and MIDA also formalised a collaboration to promote the project to domestic and international investors.
The planned park covers about 1,007 acres and obtained planning approval in 2025. MGB executive chairman Tan Sri Ir Dr Lim Hock San said MIDA was putting forward potential investors for an initial area of roughly 500 acres. MGB aims to secure and announce an anchor tenant in 2027; none was announced today. Development would be shaped by an eventual tenant’s requirements, including the possibility of built-to-suit facilities.
MGB had previously identified investors associated with the park when it was launched in 2022. The anchor tenant sought under the current promotion effort is a separate prospect.
Why it matters
MIDA’s support gives the project a wider channel to reach investors. The next substantive milestone is an occupier commitment, followed by a clearer development timetable.
Also on the radar today
Gold Li Holdings Bhd
Posted a second-quarter loss of RM3.89 mil after IPO-related expenses, with revenue falling 25.4 percent to RM7 mil from RM9.38 mil in the first quarter, mainly on lower sales of completed properties.
Topmix Holdings Bhd
Extended the completion of its RM1.85 mil Senai property disposal to the fourth quarter of 2026, with the balance sale consideration remaining outstanding pending the purchaser's bank processing and release of payment.
Rekatech Holdings Bhd
Disclosed that a RM2.16 mil related-party property purchase was completed in 2022, providing the completion date and rental details for sale and purchase agreements signed on Jan 19, 2021.
Johor data centre electrical works
HE Group said its approximately RM124 million subcontract covers the supply, installation, testing and commissioning of main electrical works for a Johor data centre.
Today's roundup
EcoWorld’s stronger earnings and sales milestone led today’s property news, while MGB gained MIDA support as it seeks an anchor tenant for its Kertih industrial park. The wider picture ranged from Kuala Lumpur luxury transactions and a Johor data-centre contract to updates on developers’ land plans, project activity and property disposals.
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