EcoWorld Gallery

• EcoWorld International recorded Profit After Tax of RM38.2 million in 3Q 2020 mainly due to revenue and profit recognition of the Group's maiden project in Australia, West Village following completion and commencement of handover of units sold to customers. • Handover of Wardian London has also commenced in 4Q 2020. The first batch of completion notices were issued to purchasers in August 2020 with more to follow in the next several months. This will enable profit recognition on the units handed over to be recognised in the upcoming quarter. • During the third quarter, EcoWorld International witnessed sustained interest in its London projects from both local and foreign purchasers. Including Australia, the Group's total sales as at 31 August 2020 has exceeded RM1 billion, 40% higher than the sales recorded in the same period of FY2019. This enabled the Group's effective future revenue position as at 31 August 2020 to remain high at RM3.94 billion. • The Group expects the sales momentum to date to continue in the remaining months of 4Q2020. EcoWorld International's latest launch of The Modern, the final phase of its Embassy Gardens project, saw 47 units valued at RM228.2 million sold in a single weekend, a very encouraging sign that demand for good properties in London is still strong. Management is also pursuing a sizeable Build-to-Rent (BtR) deal in the UK and hopes to close the transaction in the near future.