KUALA LUMPUR (Dec 11): Eco World Development Group Bhd (EcoWorld)'s shares leaped as much 12.4% or eight sen to 72.5 sen in afternoon trade after its chairman Tan Sri Liew Kee Sin said he expects the group to close its current financial year ended Oct 31, 2019 (FY19) on a record high note.
At 4.13pm, the trading volume of Eco World shares soared to 39.81 million, making it the eighth most-actively traded counter on Bursa Malaysia. Meanwhile, its share price stood at 72 sen, bringing it a market capitalisation of RM1.96 billion.
EcoWorld's 27%-owned associate and international arm, Eco World International Bhd (EWI), saw its share price gain as much as 9.28% or nine sen to RM1.06. At 4.16pm, the counter was traded at RM1.04, seven sen or 7.22% higher than yesterday's closing price, valuing it at RM2.38 billion.
Yesterday, The Edge Financial Daily quoted Liew as saying: "Despite the so-called downturn [in the property market], this year is the best year for EcoWorld and EWI."
EcoWorld is set to announce its annual financial results tomorrow (Dec 12).
EcoWorld's net profit for the nine-month period ended July 31, 2019, rose to RM121.97 million, from RM80.69 million in the previous corresponding period, while revenue grew 2.1% to RM1.56 billion from RM1.52 billion. EWI, meanwhile, recorded a net profit of RM68.71 million against a net loss of RM23.78 million previously.
Very positive statement by EcoWorld Chairman just a few days before the QR announcement. QR must be excellent. Otherwise, Management will lose all credibility
Flying Dragon : no worry , just flush out the contra players / or day traders only. We are serious investors in Ewint, just hold for long term, at least until next year.
Ecoworld international is expect to record much higher profit margin in view of strengthen in UK currency and higher lump sum value to be handover to purchaser
Pound sterling vs RM = 5.02, record exchange rate in Q3 Pound sterling vs RM = 5.39, to be record exchange rate in upcoming Q4
Pound sterling vs RM = 5.47, to be continue strength after brexit reaffirm
It is always very risky to jump into stocks that have been promoted strongly by certain parties (sifus) where they already bought at low before promoting. So small retailers must be mindful not to chase hot stocks because promoters are selling to you when you are chasing the stock up
My study of the company shows that in the three years FY2019, FY2020 and FY2021, the group will make profit about RM700 mil in total
If this Q makes RM50 mil, FY2019 total profit will be RM120 mil
Meaning RM580 mil in remaining two years. Which means average RM290 mil in FY2020 and RM2021 respectively. Based on 2.4 bil shares, EPS is about 12 Sen per annum
Once the snow ball starts rolling by all the road shows, expert write-ups etc coupled with highly expected good coming and future QR , the power of people's comments in this i3 forum will kick in to further boost the share price.
---------------------------------------------- Icon8888 Listed in 2017
IPO price RM1.20
Tan Sri Liew and Quak with have to push it to more than RM1.20, otherwise their investment will be a failure
Now that profit is coming in, Can expect a lot of Road Shows , analyst briefing etc to boost share price
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....
Icon8888
18,659 posts
Posted by Icon8888 > 2019-12-11 17:52 | Report Abuse
and you are a young fart that has no brain