Eco World shares up after Q3 net profit rises to RM112.16mil

KUALA LUMPUR: Eco World Development Group Bhd's shares rose in early trade on Friday after the property developer posted a higher net profit of RM112.16 million on revenue of RM971.53 million for the third quarter ended July 31, 2026 (Q3 2026).

As at 10.31 am, Eco World's share price added five sen to RM1.99 with 352,200 shares traded.

According to a filing with Bursa Malaysia yesterday, the company said its positive performance in 3Q 2026 was mainly driven by higher cumulative locked-in sales recognised compared with 3Q 2025.

MBSB Investment Bank Bhd maintained its "neutral" call on Eco World but lowered its target price (TP) to RM1.97 from RM2.09.

"We revise our target price for Eco World to RM1.97 from RM2.09 as we widen our revised net asset value discount to 20 per cent from 15 per cent, in view of the weaker margin outlook.

"Eco World's earnings prospects are expected to be supported by stable rental income from the Pearl Computing data centre, alongside brisk industrial land and property sales," it said in a note.

Meanwhile, RHB Investment Bank maintained its "buy" call on Eco World with a TP of RM2.66.