KUALA LUMPUR: Eco World Development Group Bhd achieved RM2.02 billion sales in the first half (1H) ended April 30, 2021.
The announcement was made following a virtual meeting convened today to update Eco World's board members on the enhanced standard operating procedures (SOPs) at all its sales galleries, project sites. as well as its proposed corporate vaccination programme for staff.
Eco World president and chief executive officer Datuk Chang Khim Wah said following a good start to financial year ending October 31, 2021 (FY21) with RM706 million sales recorded in the first quarter of the financial year, sales were even stronger in Q2 with RM1.3 billion achieved.
"The launch of our Eco Botanic 2 project in Iskandar Malaysia along with the new Co-Home product at Eco Horizon and Eco Grandeur as well as the second phase of our well-received ErgoHomes & Garden Homes at Eco Forest contributed to the sales achieved.
"The group also experienced steady sales across nearly all our ongoing projects in the Klang Valley, Iskandar Malaysia and Penang which we are very grateful for," he said.
Chang said the company was confident that it would be able to reach the RM2.87 billion sales set for the year.
"The RM2.02 billion already locked in for 1H 2021 is a positive lead indicator of continued steady cash inflows from operations.
"Along with continued financial discipline and cost efficiencies being reaped from ongoing digitalisation of operations, the group is well positioned to achieve our financial goals and objectives," he said.
Chang said following the virtual briefing, it had decided to disclose its 1H 2021 sales ahead of official results announcement.
"This is because we are aware that with the very necessary implementation of stricter measures by the government to combat the spread of Covid-19 in the country, many are concerned about its impact on businesses.
"These include our shareholders who would want to be assured that the Group's plans and strategies remain on track.""
Eco World was fully supportive of the government's actions to impose tighter SOPs as part of the Movement Control Order 3.0 to break the escalating chain of Covid- 19 infections nationwide," he added.