EcoFirst Q4 earnings up seven-fold

PETALING JAYA: Ecofirst Consolidated Bhd’s net profit surged by more than seven times to RM15.9mil for the fourth quarter ended May 31. 2021 (Q4’FY21) from RM2.2mil in the corresponding quarter of the preceding year on fair value gain. The property developer said during the quarter in review, it posted a fair value gain of RM13.7mil …

EcoFirst 4Q net profit surges over 600% on fair value gain

KUALA LUMPUR (July 30): EcoFirst Consolidated Bhd posted a 657% jump in net profit to RM15.9 million for its fourth quarter ended May 31, 2021 (4QFY21) from RM2.1 million in the previous year’s corresponding quarter, boosted by a fair value gain of RM13.7 million. Excluding the fair value gain, the group’s net profit would have …

EcoFirst looks to affordable homes to fuel future growth

ANTICIPATING a robust prospect for the affordable housing segment amid the much subdued property sector, EcoFirst Consolidated Bhd has re-strategised its business model to have majority of its offerings to be priced below RM500,000 per unit in its upcoming launches. The Main Market-listed property developer expects its shift of focus towards affordable property by targeting …

Ecofirst earnings surge seven-fold to RM15.95mil for Q4

KUALA LUMPUR: EcoFirst Consolidated Bhd’s net profit surged by more than seven times to RM15.95 million for the fourth quarter (Q4) ended May 31, 2021, from RM2.09 million recorded in the previous year’s corresponding quarter. In a statement today, the property developer said the increase in net profit was mainly due to the fair value …

EcoFirst 4Q net profit surges over 600% on fair value gain

KUALA LUMPUR (July 29): EcoFirst Consolidated Bhd posted a 657% jump in net profit to RM15.9 million for its fourth quarter ended May 31, 2021 (4QFY21) from RM2.1 million in the previous year’s corresponding quarter, boosted by a fair value gain of RM13.7 million. Excluding the fair value gain, the group’s net profit would have come …

EcoFirst to launch several housing projects from this year

EcoFirst Consolidated Bhd aims to launch a new property development project in Shah Alam, Selangor, with a gross development value (GDV) of RM311 million in the second half of this year.   The property developer had completed the acquisition of 19,243 square metres of land in Cahaya SPK, Seksyen 9 for the property project on …

EcoFirst in pursuit of affordable housing to mitigate pandemic-hit earnings

PROPERTY developer EcoFirst Consolidated Bhd is poised for an earnings recovery with launches of new development focusing on affordable housing after its 3Q FY2021 ended Feb 28 fell into a quarterly net loss for the first time since 4Q FY2014. EcoFirst slipped into a net loss of RM4.3 mil in 3Q FY2021 mainly due to …