KUALA LUMPUR: Eco World Development Group Bhd
has redesignated Datuk Leong Kok Wah as a non-independent, non-executive director, effective Dec 12, 2024.
In a filing with Bursa Malaysia, the property developer said Leong, 71, was previously the deputy chairman of the group.
Leong is the largest shareholder of Eco World Development, holding a 32.89% stake as of Oct 1, 2024.
He holds a Master’s degree in Business Administration (MBA) from the University of Hull, UK, and is a member of the Institute of Bankers (UK), Institute of Credit Management (UK), Institute of Marketing (UK), and the Asian Institute of Chartered Bankers.
He has vast experience in stockbroking, asset management and options and futures trading. He also sits on the board of Salcon Bhd.
Eco World saw its net profit surge more than 25-fold to RM83.4mil in the fourth quarter ended Oct 31, 2024 (4Q24), despite revenue dropping 24.4% year-on-year (y-o-y) to RM638.5mil.
For the full financial year ended Oct 31, Eco World saw net profit also jump by 60.3% y-o-y to RM303.5mil, as revenue increased by 1.4% to RM2.26bil.
Eco World declared a dividend of two sen per share for 4Q24, bringing the cumulative dividend for the fiscal year to six sen per share.
