Eco World International posts profit before tax of RM1.5 mil in 1Q2024
Following the distribution of RM144 million dividend during the first quarter of FY2024, the group still has a net cash balance of RM211 million as at Jan 31, 2024.
Following the distribution of RM144 million dividend during the first quarter of FY2024, the group still has a net cash balance of RM211 million as at Jan 31, 2024.
"The strategy that we have here is really not to divest from public markets Malaysia but to basically be active in creating value in that portfolio.
“For the first time in 40 years, the group has missed the deadline as required by Bursa Malaysia.
The strong profit growth was driven by higher contributions from all its operating segments, namely the property investment of commercial and retail, property development and hotel businesses.
The property developer highlighted that it achieved RM5.
For the property development segment, “the company’s immediate priorities moving forward remain on enhancing its cash flow by monetising its unsold completed stock”, which stood at RM384.
In a bourse filing on Thursday, BDB said revenue for the year rose to RM316.
The group registered a net profit of RM57.
The group noted that though “revenue in the property development segment has declined by 16%, the contraction is partially offset by the impressive performance observed in our property investment segment which improved by 25%”.
On a segmental basis, Ekovest’s revenue from property development tumbled 86.