Eco World's Earnings Forecast Maintained Despite Industrial Park Project Collaboration
Eco World's Earnings Forecast Maintained Despite Industrial Park Project Collaboration
Despite the positive outlook for the industrial park development, the research house maintained their earnings forecast for Eco World for the financial year 2025 forecasted (FY25F), FY26F and FY27F, pending further details on the MOU, such as the company's stake in the project and capital requirements. Eco World's net gearing, at 0.19 times as of 4QFY24, is considered healthy by the analyst, positioning the company well to expand its landbank further.
MIDF Amanah Investment Bank (MIDF Research) has maintained its NEUTRAL rating on Eco World Development Group Bhd with an unchanged target price of RM2.01, following the company's memorandum of understanding (MOU) with SD Guthrie Bhd and NS Corp to jointly develop an industrial park in Bukit Pelandok, Negeri Sembilan.
MIDF Amanah投資銀行（MIDF Research）維持了對生態世界發展集團有限公司的中性評級，目標價爲2.01令吉不變，此前該公司與SD Guthrie Bhd和NS Corp簽署了諒解備忘錄（MOU），共同開發森美蘭州武吉佩蘭多克工業園。
Under the MOU, Eco World, SD Guthrie and NS Corp will collaboratively develop a 471-ha industrial park with an estimated gross development value of RM2.95 billion. Positioned within the Malaysian Vision Valley 2.0 (MVV 2.0) economic corridor, the industrial park will feature a mix of industrial lots, ready-built factories, and commercial properties targeting high-growth sectors such as aerospace, electrical and electronics, logistics and biotechnology. The development is expected to take place over the next eight years.
根據諒解備忘錄，Eco World、SD Guthrie和NS Corp將合作開發一個佔地471公頃的工業園區，估計總開發價值爲29.5令吉。該工業園位於馬來西亞願景谷2.0（MVV 2.0）經濟走廊內，將包括工業用地、現成工廠和針對航空航天、電氣和電子、物流和生物技術等高增長領域的商業地產。該開發預計將在未來八年內進行。
MIDF Research expressed a neutral-to-positive view on the strategic collaboration, which will expand Eco World's industrial property development portfolio. The research house highlighted that Eco World has been aiming to grow its industrial property division due to its expertise in the sector and the strong demand for industrial products in Malaysia. The company already has 977ha of land earmarked for industrial parks, which represent 27% of its total landbank.
MIDF Research對戰略合作表達了中立至積極的看法，這將擴大Eco World的工業產權開發組合。該研究機構強調，由於其在該領域的專業知識以及馬來西亞對工業產品的強勁需求，Eco World一直致力於發展其工業產權部門。該公司已經擁有977公頃的工業園用地，佔其總土地儲備的27％。
Despite the positive outlook for the industrial park development, the research house maintained their earnings forecast for Eco World for the financial year 2025 forecasted (FY25F), FY26F and FY27F, pending further details on the MOU, such as the company's stake in the project and capital requirements. Eco World's net gearing, at 0.19 times as of 4QFY24, is considered healthy by the analyst, positioning the company well to expand its landbank further.
儘管工業園開發前景樂觀，但該研究機構維持了對生態世界預測的2025財年（FY25F）、FY26F 和 FY27F 的收益預測，等待諒解備忘錄的更多細節，例如該公司在該項目的股份和資本需求。分析師認爲，截至 4QFY24，Eco World的淨資產負債率爲0.19倍，這使該公司有望進一步擴大其土地儲備。
The research house noted that while the outlook for Eco World's earnings and net sales is expected to remain stable, the positives of the collaboration have already been largely priced into the company's stock, which is currently trading above its latest net tangible asset of RM1.66 per share.
該研究機構指出，儘管預計Eco World的收益和淨銷售額前景將保持穩定，但合作的積極因素已經在很大程度上體現在該公司的股票中，該公司的股票目前的交易價格高於其最新的每股淨有形資產1.66令吉。
譯文內容由第三人軟體翻譯。