Just EcoWorld or is the property market improving?

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EcoWorld is a name known to virtually anyone looking to buy a property here in Malaysia. No surveys done, just a guess. It has just reported a set of encouraging results for the financial year ended 31st October 2017. Yes, this meant that its financial year would be 1st November to 31st October. Q1, Q2, Q3, Q4 would be Nov – Jan, Feb – April, May to July and August to October respectively. In an article in TheStar: Stronger Fy17 earnings for EcoWorld, hits RM4 billion sales target , EcoWorld Development Group Bhd has reported that it has hit the RM4 billion sales target from its Malaysian projects for FY2017. It shared that its earnings were up 62 percent from RM129.8 million to TM209.58 million a year ago. Its revenue is up by 14.8 percent to RM2.91 billion from RM2.54 billion a year ago. The chairman of EcoWorld Malaysia and executive vice chairman of EcoWorld International Tan Sri Liew Kee Sin said: “This marks the third consecutive year in which combined EcoWorld Brand sales have exceeded the RM6bil mark.”

It said that within Q4, it achieved 46 percent of the total yea’s target. Main contribution came from their extremely successful marketing campaign; EcoWorld Design-Nature-Art (DNA) launched at the end of September 2017. It involved the concurrent launch of five of the group’s projects in the Klang Valley and Penang. Its President & CEO of EcoWorld Malaysia Datuk Chang Khim Wah shared, “Collectively these five contributed approximately RM1bil sales to the group in the final quarter of FY2017 with the balance of around RM800mil contributed by the Group’s other ongoing projects in the Klang Valley, Iskandar Malaysia and Penang.” Despite Brexit’s concerns, president & CEO of EcoWorld International Datuk Teow Leong Seng said sales in the UK have been steady with continuing interest in all three ongoing projects. Teow also highlighted that EcoWorld International has announced three new corporate deals recently. To read in full, this is the link to the Full article in TheStar

I think we have TWO interesting potential learnings here. One, is this result applicable only to EcoWorld Malaysian operations or is the property market in Malaysia really improving for the past couple of months? If we have been reading a bit, there were indicators that the market is still relatively stable. It’s definitely not moving downwards. Recently, the Malaysian Institute of Estate Agents (MIEA) president Eric Lim shared that the current property market is stable and moving at a moderate pace. Here’s that article in FreeMalaysiaToday. Since the property market is relatively stable, then it must be something which EcoWorld has done right. Perhaps the amount that they spent on their DNA campaign has given them that edge. Many times, the reason why we think a certain developer is good may not be because we have bought a property from them before. It may also be due to the many right things that they have done. I think the days of one day half-page advertisement in newspaper to sell properties are long gone. These days, traditional and new media must work together. Let’s conclude that property market did not suddenly improve. This time, EcoWorld’s marketing team have excelled in what they do, via DNA. Cheers.

written on 15 Dec 2017

Next suggested article: Eco World: RM955 million sales within first four months


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