Its property segment's revenue soared to RM221.4 million from RM143.8 million in 1QFY20, mainly contributed by the ongoing projects, such as Bandar Puteri Jaya, Iringan Bayu, You City III and Ryan & Miho.
Gagasan Nadi Cergas said construction is scheduled to commence in the second and third quarters of 2022 for 36- and 48-month periods.
In a statement filed with Bursa Malaysia, EcoWorld president and chief executive officer Datuk Chang Khim Wah said the group experienced stronger sales in the second quarter ended April 30, 2021 (2QFY21) with RM1.3 billion sales achieved, compared with the RM706 million it recorded in the immediate preceding quarter.
"Investments in commercial properties will also be reliant on property and financial incentives."
Tan Sri Lim Kok Thay said these disposals are in line with the streamlining exercises undertaken by the group to focus on cruise-related business, which will continue to be the major contributor to the group’s results of operations.
This is the third consecutive day new cases were above the 6,000 mark
The contracts, awarded by Enso Development Sdn Bhd, are for the construction of the second and third packages of a commercial development project in Taman Equine, Bandar Seri Putra Permai.
Revenue surged to RM137.66 million in the third quarter ended March 31, 2021 from RM31.68 million.
As at 11.59am, the counter surged 29.31% or 34 sen to RM1.50, giving it a market capitalisation of RM327.72 million.
In a note today, Maybank Investment Bank economists Suhaimi Ilias, Dr Zamros Dzulkafli, Ramesh Lankanathan and William Poh Chee Keong said they are keeping the research firm's full-year 2021 economic growth forecast for Malaysia as measured by gross domestic product (GDP) at 5.1% for the time being
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