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25th May 2021

EcoWorld Malaysia achieved RM2.02 billion sales in 1H 2021

KUALA LUMPUR: Eco World Development Group Berhad (EcoWorld Malaysia) disclosed today that it has achieved RM2.02 billion sales in the first half of FY2021 (i.e., from 1 November 2020 to 30 April 2021).

The announcement was made following a virtual meeting convened today to update EcoWorld Malaysia’s Board of Directors on the enhanced SOPs at all EcoWorld sales galleries, project sites and the Group’s proposed Corporate Vaccination Programme for its staff.

Dato’ Chang Khim Wah, President & CEO of EcoWorld Malaysia commented:
“We are very thankful that we have achieved RM2.02 billion sales in the first 6 months of FY2021. Following a good start to FY2021 with RM706 million sales recorded in the first quarter of the financial year, sales were even stronger in 2Q 2021 with RM1.3 billion achieved in this most recent quarter. The launch of our Eco Botanic 2 project in Iskandar Malaysia along with the new Co-Home product at Eco Horizon and Eco Grandeur as well as the second phase of our well-received ErgoHomes & Garden Homes at Eco Forest contributed to the sales achieved. The Group also experienced steady sales across nearly all our ongoing projects in the Klang Valley, Iskandar Malaysia and Penang which we are very grateful for.

Following our virtual briefing to our Board of Directors today, we made the decision to disclose our 1H 2021 sales ahead of our official results announcement. This is because we are aware that with the very necessary implementation of stricter measures by the Government to combat the spread of Covid-19 in the country, many are concerned about its impact on businesses. These include our shareholders who would want to be assured that the Group’s plans and strategies remain on track.

As a corporate entity, EcoWorld Malaysia is fully supportive of the actions taken by the Government to impose tighter SOPs as part of the Movement Control Order 3.0 to break the escalating chain of Covid-19 infections nationwide. We will certainly do our part to continue to implement the prescribed SOPs vigilantly at our business premises and construction sites to enable safe operations throughout and carry out as much of our business activities via virtual platforms as possible.

With regard to our sales target for FY2021 we are confident that we will be able to reach the RM2.875 billion set for the year. The RM 2.02 billion already locked in for 1H 2021 is a positive lead indicator of continued steady cash inflows from operations. Along with continued financial discipline and cost efficiencies being reaped from ongoing digitalisation of operations, the Group is well positioned to achieve our financial goals and objectives.”

Further details on the Group’s performance in 1H 2021 will be discussed in the announcement of the 2Q 2021 which is scheduled for release towards the end of June 2021.

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