Broker Name: CGS International
Date of Report: March 12, 2026
Excerpt from CGS International report.
Report Summary:
- Eco World Development Group Berhad (EWDG) reported 1QFY26 core net profit of RM157m, in line with expectations, supported by strong data centre land sales and robust revenue growth.
- 4MFY26 sales reached RM2.1bn, representing 52% of the FY26 target, with momentum expected to continue due to new project launches and further land monetisation.
- Despite slight pressure from rising construction costs, management remains confident in exceeding sales targets and has declared a higher dividend.
- CGS International maintains an “Add” rating with an unchanged target price of RM2.62, citing a positive outlook, compelling dividend yield, and strong sector performance.
- Key risks include potential project launch delays and lower-than-expected sales growth.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com/
