News about Eco World International

On its outlook, EWI noted that while London faces a housing undersupply, high interest rates are slowing sales and pressuring prices.

The group declared a third interim dividend of 1.

Paramount chief executive officer Jeffrey Chew Sun Teong: “We have grown five times over the last ten years and reached RM1 billion in sales.

Upon completion of the acquisition, Flexsis will emerge as the second largest shareholder in EWI, after Eco World Capital (International) Sdn Bhd with a 27%.

Following the distribution of RM144 million dividend during the first quarter of FY2024, the group still has a net cash balance of RM211 million as at Jan 31, 2024.

The company completed its Australian projects but still has a “significant” presence in the UK, it noted.

The group intends to declare a first tranche of dividends amounting to at least RM144 million.

The research house said that if the breakout is sustained, the uptrend rebound will likely lead to the stock climbing towards the immediate resistance of 33.

Heah, 56, is currently the chief financial officer of EcoWorld and the alternate director to Tan Sri Liew Kee Sin, the executive chairman of Eco World Malaysia.

Note that the dividend will be paid to GLL EWI (HK) Ltd, a wholly owned subsidiary of GuocoLand Ltd.