Positive outlook for EcoWorld on Johor land disposal

MIDF Research said EcoWorld was actively monetising its landbank to optimise returns and enhance its Eco Business Park.

PETALING JAYA: MIDF Research has maintained its “buy” call on Eco World Development Group Bhd (EcoWorld) following the company’s land disposal announcement, saying that the disposal price is “attractive”.

The research house noted EcoWorld’s disposal of 32.9 acres of land at Eco Business Park (EBP II) in Senai, Iskandar Malaysia for RM119mil was attractive at RM83 per sq ft, higher than the recent transaction price of land in Senai, which was RM70 per sq ft.