KUALA LUMPUR: Eco World Development Group Bhd (ECOWLD 8206), whose shares were on an uptrend in recent weeks, could add some RM3.74 to its valuation upon completion of an asset injection exercise alongside a re-evaluation of its current assets. 

Previously in a March 2013 report, Maybank IB noted that Eco World was among five property developers under its coverage being traded at 28 per cent and 55 per cent discounts to their real net asset value. 

Eco World was recently questioned by Bursa Malaysia on the steep rise of its stock price. 

The asset injection could add some RM2.22 a share based on valuation, while revaluing the Masai land could add some RM1.50 a share to the company’s net asset value. 

Eco World has risen from below RM1 some six months ago to close at RM4.49 a share yesterday.

Read more: Asset injection may increase Eco World’s valuation http://www.btimes.com.my/Current_News/BTIMES/articles/20140110030503/Article/#ixzz2pxJwnESd