Eco World International is 27% owned by Eco World Berhad. Tan Sri Quek Leng Chan and Tan Sri Liew Kee Sin holds another 27% and 10% respectively.
(Blue Blood Shareholders)
Eco World International was listed on Bursa in March 2017.
Eco World International does not have any property projects in Malaysia. It is the overseas development arm of Eco World Berhad.
Eco World International's major projects are in London :
(a) Embassy Gardens on Elms Street;
(b) London City Island; and
(c) Wardian at Canary Wharf (financial district).
All of the above are HIGH END residential projects.
Total UK GDV is approximately RM12 billion. As Eco World International owns 75% equity interest, its effective GDV is approximately RM9 billion.
Eco World International also has two projects in Australia :
(a) Yarra One in Melbourne; and
(b) West Village in Paramatta, Sydney.
So far, the group has locked in sales of RM6.1 billion (based on effective stake).
Unlike in Malaysia, UK and Australia accounting standard only allows recognition of revenue and profit upon completion of the properties.
Eco World International started construction works on the London projects approximately 2 years ago. In July 2018 (what month are we in now ?), it will complete construction and start handing over keys to buyers.
(Source : Quarterly report for the three months ended April 2018)
According to analysts, Eco World International will recognize maiden profit in FY2018 (ending October 2018) and report HUGE earnings in FY2019.
(Source : CIMB May 2017)
(Source : MIDF Research March 2017)
(Source : Maybank IB 29 June 2018)
NOTE : The above analyst reports were obtained by me through Google. Some of them are dated back to March 2017. Please share with us if you managed to get hold of the latest copies.
London is facing chronic shortage of housing. Please refer to article below (and Google to find out more when you are free).