Eco World shares up on land acquisition deal

Publish date: Thu, 20 Mar 2014, 01:32 PM
KUALA LUMPUR: Eco World Development Group Bhd's share rose in the morning session today following an agreement with Tropicana Corporation Bhd to acquire land in Kuala Langat, Selangor, worth RM471 million.

At lunch break, Eco World's share price was up eight sen or 1.7 per cent to RM4.77 with 3.27 million shares changing hands.

Eco World in a filing to Bursa Malaysia yesterday said the acquisition of the land, measuring approximately 125 hectares, was part of the strategy of the company and its subsidiaries to seek opportunities to replenish its landbank in strategic growth corridors.

It said the company is planning to develop an eco-themed mixed residential and commercial project on the land to be named, "Eco Sanctuary", with an estimated gross development value of approximately RM8 billion.

Eco World said the project would be well received and contribute positively to the Group's future earnings.-- Bernama

Labels: ECOWLD

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Tan Pean Hin

EcoWld share price not much moving...even though secured a new land...why arh ?

2014-03-23 15:19

kaliawke

wait for Tan Sri to come on board next mth with a big Blass

2014-03-24 13:59

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