Econframe expects favourable outlook for M’sia’s industrial property market

PETALING JAYA: Econframe Bhd expects the 70% stake acquisition of ETA World Sdn Bhd in January 2024 to bode well for the group.

In a filing with Bursa Malaysia, the door system solution provider said the acquisition represents an opportunity for the group to venture into construction services, specifically into industrial property in view of the favourable outlook and prospects of the industrial property market in Malaysia.

For the second quarter ended Feb 29, 2024, Econframe registered a higher revenue of RM26.98mil and a profit of RM3.37mil, as its recently acquired 65%-owned subsidiary, Lee & Yong Aluminium Sdn Bhd was a significant contributor to its earnings.

Basic earnings per share for the quarter stood at 0.99 sen compared with 0.97 sen a year earlier.

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