EcoWorld 3Q net profit rises 11%; sales top RM5b, wins Singapore site
Eco World Development Group Bhd posted a 10.9% rise in net profit to RM112.16 million for 3QFY2026, with revenue up 27.5% to RM971.53 million. Sales hit RM5.01 billion, led by Iskandar Malaysia and Klang Valley, and the group won a Singapore URA tender for a residential site at Lorong Puntong/Sin Mi
PETALING JAYA (Sept 24): Eco World Development Group Bhd posted a 10.9% rise in net profit attributable to shareholders to RM112.16 million for the third quarter ended July 31, 2026, from RM101.17 million a year earlier.
Revenue increased 27.5% to RM971.53 million from RM761.93 million, mainly due to higher cumulative locked-in sales recognised during the quarter, the group said in a Bursa Malaysia filing on Thursday (Sept 24).
For the first nine months of FY2026, net profit attributable to shareholders rose 27.7% to RM397.71 million from RM311.35 million, while revenue grew 43.3% to RM3.12 billion from RM2.18 billion.
Residential properties contributed RM2.30 billion, or 57%, of sales recorded as at Aug 31. Eco Townships accounted for RM1.60 billion, including RM565 million from Eco Botanic 3 in Iskandar Malaysia. Eco Rise contributed RM700 million, with duduk apartments making up 83% of sales under that pillar. Industrial products contributed RM1.33 billion, comprising RM1.04 billion from Eco Business Parks and RM281 million from QUANTUM. EcoWorld said EBP VII had secured RM942 million in SME Core sales within 10 months of its November 2025 launch, mainly from Malaysian industrialists and other local purchasers. Its Eco Hubs commercial pillar contributed RM424 million.
By region, Iskandar Malaysia accounted for RM1.97 billion, or 49%, of sales as at Aug 31. The Klang Valley and Negeri Sembilan contributed RM1.79 billion, or 44%, while Penang contributed RM296 million, or 7%.
EcoWorld said future revenue from secured sales stood at RM5.01 billion as at Aug 31. Its gross and net gearing ratios were 0.57 times and 0.21 times respectively as at July 31, while cash balances, including deposits and short-term funds, totalled RM2.28 billion. The board declared a third interim dividend of two sen per share, bringing dividends declared for FY2026 to six sen per share, compared with five sen at the same stage last year. The dividend is payable on Oct 23 to shareholders on the record of depositors as at Oct 9.
Separately, EcoWorld said it was named on Sept 18 as the winner of a Singapore Urban Redevelopment Authority tender for a 4,283.4 sq m residential site at Lorong Puntong/Sin Ming Avenue. The group said it plans to launch its first development project in Singapore in 2028.
