EcoWorld Malaysia’s 1Q2024 profit after tax increases by 22.2%, RM1.26 bil sales achieved in four months
The group’s Iskandar Malaysia projects outperformed strongly with RM723 million sales achieved, representing 57% of total year-to-date sales.
The group’s Iskandar Malaysia projects outperformed strongly with RM723 million sales achieved, representing 57% of total year-to-date sales.
“This is to reduce incidents of double taxing or cascading effect from the tax-on-tax imposition on several layers of the logistics supply chain.
On a segmental basis, Ekovest’s revenue from property development tumbled 86.
“Maintenance and repair are very broad terms, it doesn’t just cover air conditioning systems and elevators, it covers laptops too, everything's in there.
The two exclusions are services relating to the maintenance of residential buildings and M&R services of joint management corporations (JMCs), such as building maintenance charges.
Revenue declined by 34.
Imposing a vacancy tax on developers on these properties will not in any way help to resolve the problem and will only result in new houses being more expensive as developers will pass on the cost of any additional taxes to future launches.
The discount will affect more than 25,000 owners under the Rumawip, PR1MA, PPAM and regional residency housing in the city.
The last time Ekovest fell into the red was in 4QFY2022, with a net loss of RM123.
The groups believe the proposed luxury tax is a "lose-lose proposition" where the country will "lose foreign tourist arrivals and lose Malaysians from buying locally, coupled with the loss of foreign exchange".