Eco World Boosts Asset Monetization With Recent Johor Land Sale to China Manufacturer -- Market Talk

Dow Jones2025-03-05

0146 GMT - Eco World Development's recent 32.9-acre land sale appears a positive move that reinforces its ability to secure diverse deals beyond data center transactions, Maybank IB analyst Wong Wei Sum says in a note. The MYR119 million Johor land sale to China's power inverter producer, Deye New Energy Technology, also accelerates asset monetization, she says. With completion expected by early 2026, Maybank raises Eco World's FY 2026 earnings forecast by 4%, assuming a 30% pretax margin. EcoWorld is also expanding its industrial land bank through strategic acquisitions and plans to launch more industrial and township projects in the next 6-12 months, she notes. Maybank raises Eco World's target price to MYR2.51 from MYR2.50, maintaining a buy rating. Shares are 1.6% higher at MYR1.91. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

March 04, 2025 20:46 ET (01:46 GMT)

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With completion expected by early 2026, Maybank raises Eco World's FY 2026 earnings forecast by 4%, assuming a 30% pretax margin. EcoWorld is also expanding its industrial land bank through strategic acquisitions and plans to launch more industrial and township projects in the next 6-12 months, she notes. Maybank raises Eco World's target price to MYR2.51 from MYR2.50, maintaining a buy rating. Shares are 1.6% higher at MYR1.91. 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