IJOK: Although Eco World International Bhd has given much focus to the Build-to-Rent business in London, after the dust has settled post-Brexit, EWI is confident international retail investors and buyers will return.
"All the elements like education, culture, business and manufacturing would remain once Brexit is out of the way. It is only that at this point, the media is giving it daily coverage," EWI president and CEO Datuk Teow Leong Seng said.
In Britain, our business is still 50:50 between institutional investors and non-institutional buyers, he said after the company's AGM.
It bought Wilmott Dixon Holdings Ltd in December 2018, which is part of FY 2018 and with that, effectively signed a deal for 12 sites.
EWI subsequently and formerly bought eight of the 12 sites, with some sites suitable for the BtR business model.
For FY2018, EWI had a maiden profit of RM35.2mil versus a loss of Rm87.6mil. It will report first quarter results for FY2019 tomorrow.
The Board is pleased to share that the construction works of EcoWorld International’s projects are progressing well. London City Island is expected to hand over units in its remaining residential blocks starting mid-FY2019 while Embassy Gardens is expected to deliver Block A05 in the second half of the same financial year. Several projects that are developed by EcoWorld London, including Kensal Rise Phase 1, Millbrook Park Phase 1, Aberfeldy Village Phase 3A and Nantly House, are also scheduled for completion in FY2019. Beyond the current financial year, the Group expects to deliver Wardian, West Village and Yarra One in the next financial year. A substantial percentage of the Group’s RM6.6 billion future revenue are therefore anticipated to be translated into earnings in FY2019 and FY2020.
Monday, 1 April: MPs hold another set of votes on Brexit options to see if they can agree on a way forward Wednesday, 3 April: Potentially another round of so-called "indicative votes" Wednesday, 10 April: Emergency summit of EU leaders to consider any UK request for further extension Friday, 12 April: Brexit day, if UK does not seek/EU does not grant further delay 23-26 May: European Parliamentary elections
Soft landing of course good, but don't be too pessimistic on hard landing. there are pro and con for both scenario. UK Government is not stupid, if decision for hard landing outcome, for sure they have plan "B" for UK economy. Some inform from friend of UK. UK Government will open up their education sector to attract more foreign student study in UK especially student from China. if this is true, i do not know how good it will benefit to UK economy, but sure good for property market in UK. and believe they will have more plan for their country to moving forward
either Scenario crystallised, there must be an un avoidable transition period for the market to adjust and to balance up. just time only
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Terence Chee
155 posts
Posted by Terence Chee > 2019-03-26 15:57 | Report Abuse
Bring egg haha