[%mGTt%]
Research by MIDF
Neutral – TP RM1.63

“Solid Earnings in 1HFY24"

Maintain NEUTRAL with an unchanged TP of RM1.63. We make no changes to our earnings forecast for FY24F/25F/26F. We also maintain our TP for Eco World at RM1.63, based on 30% discount to RNAV. We see positive earnings outlook and stable sales prospect for Eco World. Nevertheless, we think that positives are largely priced in. Valuation of Eco World is fair at this level, trading close to its latest NTA of RM1.65 per share. Hence, we maintain our NEUTRAL call on Eco World.

Analyst:
Jessica Low Jze Tieng
[%DOfG%]

$KLSE-ECOWLD
Research by MIDF
Neutral – TP RM1.63

“Solid Earnings in 1HFY24"

Maintain NEUTRAL with an unchanged TP of RM1.63. We make no changes to our earnings forecast for FY24F/25F/26F. We also maintain our TP for Eco World at RM1.63, based on 30% discount to RNAV. We see positive earnings outlook and stable sales prospect for Eco World. Nevertheless, we think that positives are largely priced in. Valuation of Eco World is fair at this level, trading close to its latest NTA of RM1.65 per share. Hence, we maintain our NEUTRAL call on Eco World.

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my

$ECOWLD / 8206 (ECO WORLD DEVELOPMENT GROUP BERHAD)