Mixed Views On Eco World's Latest Land Acquisition Despite It Addresses Its Diminishing Landbank
Mixed Views On Eco World's Latest Land Acquisition Despite It Addresses Its Diminishing Landbank
Despite that, MIDF Research has revised the company's target price (TP) to RM1.84 from RM1.81, reflecting the potential of Eco Forest 2 and how the land acquisition will further strengthen its foothold in the region while ensuring a stable sales outlook.
Research houses have mixed views on Eco World Development Group Bhd's latest acquisition of 343ha of freehold land in Semenyih for RM742.4 million which will be developed into Eco Forest 2 to meet the demand for residential properties, particularly for first-time homebuyers and upgraders, in the growing Semenyih market.
研究機構對生態世界發展集團有限公司最近以74240萬令吉收購了士毛月343公頃永久產權土地的看法不一，該土地將開發成Eco Forest 2，以滿足不斷增長的Semenyih市場對住宅物業的需求，特別是首次購房者和升級者的需求。
Although the strategic move is considered positive as it addresses Eco World's diminishing landbank and sets the stage for further growth, MIDF Amanah Investment Bank Bhd (MIDF Research) has maintained a NEUTRAL stance on the property developer.
儘管該戰略舉措被認爲是積極的，因爲它解決了生態世界不斷減少的土地儲備併爲進一步增長奠定了基礎，但MIDF Amanah投資銀行有限公司（MIDF Research）一直對該房地產開發商保持中立立場。
The research house said although Eco World is well-positioned to capitalise on the growing demand for landed housing, the upside is limited due to its current valuation being above its net tangible asset.
該研究機構表示，儘管Eco World完全有能力利用不斷增長的有地住房需求，但由於其目前的估值高於其淨有形資產，因此上行空間有限。
Despite that, MIDF Research has revised the company's target price (TP) to RM1.84 from RM1.81, reflecting the potential of Eco Forest 2 and how the land acquisition will further strengthen its foothold in the region while ensuring a stable sales outlook.
儘管如此，MIDF Research還是將公司的目標價格（TP）從1.81令吉上調至1.84令吉，這反映了Eco Forest 2的潛力，以及此次土地收購將如何進一步鞏固其在該地區的立足點，同時確保穩定的銷售前景。
On the other hand, Maybank Investment Bank Bhd (Maybank IB) has issued a BUY call for Eco World's latest acquisition with a TP at RM1.96.
另一方面，馬來亞銀行投資銀行有限公司（Maybank IB）已對Eco World的最新收購發出了買入呼籲，目標價爲1.96令吉。
The research house views the land purchase favourably due to its fair pricing and the long-term prospects it offers.
由於其公平的定價及其提供的長期前景，該研究機構對土地購買持積極看法。
Maybank IB highlighted that although the purchase price of RM20.1 per sq ft is higher than Mah Sing Group's recent acquisition in Semenyih, it is still below the current market rate.
Maybank Ib強調，儘管每平方英尺20.1令吉的收購價格高於馬新集團最近在Semenyih的收購，但仍低於當前的市場價格。
The research house said the land acquisition will increase Eco World's gross development value by 27% and expand its landbank by 9%.
該研究機構表示，此次徵地將使Eco World的總開發價值增加27％，並將其土地儲備擴大9％。
Maybank IB expects Eco Forest 2 to generate an annual net profit of RM56.6 million from FY26 onwards, assuming a 20% pretax margin, providing a solid foundation for future growth.
馬來西亞銀行Ib預計，假設稅前利潤率爲20％，從26財年起，Eco Forest 2的年淨利潤將達到5660萬令吉，爲未來的增長奠定堅實的基礎。
Eco World's stock, which closed at RM1.81 on Nov 7 2024, is projected to see a modest upside, representing an 8% potential return.
生態世界的股票於2024年11月7日收於1.81令吉，預計將略有上漲，潛在回報率爲8％。
譯文內容由第三人軟體翻譯。
