Ewi Capital Bhd · MYX:EWICAP
Ewi Capital Bhd — Eco World International — Shareholder Meeting (May 2024)
14 slides from Ewi Capital Bhd's shareholder meeting presentation, May 2024
Slide 1: Eco World International Bhd 10th Annual General Meeting
ECO WORLD INTERNATIONAL BHD 10th ANNUAL GENERAL MEETING 1
Slide 2: Distributions to Shareholders
DISTRIBUTIONS TO SHAREHOLDERS • The Group successfully distributed Dividend Declared RM936 million dividends to RM936m shareholders for FY2023, slightly surpassing the targeted RM900 million excess cash distribution set last year. • RM1.08 billion has been distributed as dividends since FY2021. RM14
Slide 3: Sales Performance
SALES PERFORMANCE • RM1,181 million exchanged sales (RM1,295 million RM2,158m including reservations) achieved for FY2023. • The Group has been focusing on monetising completed stocks. • No new launches undertaken in FY2023. RM1,181m RM1,289m RM706m RM162m RM940m RM116m RM125m FY2022 FY2023 FY2022 F
Slide 4: EWI Group Balance Sheet
EWI GROUP BALANCE SHEET • All bank borrowings at the group level has been full repaid. RM295m • RM295m cash balances as at 31 Oct 2023 after distributing RM792m dividend in the FY2023. RM655m RM173m RM483m RM295m - Oct-2022 Oct-2023 Oct-2022 Oct-2023 Oct-2022 Oct-2023 Net Cash Balance Borrowings Cas
Slide 5: EWI Group Profit & Loss
EWI GROUP PROFIT & LOSS • Loss after tax narrowed in FY2024 as a result of higher interest income, lower finance cost, foreign exchange gain and reversal of impairment on investment in EcoWorld- Ballymore. • Revenue and gross profit were lower due to fewer handovers by Australian projects • Losses i
Slide 6: Market Updates
MARKET UPDATES Median Transacted Price of London House Price Index House Transfer (in AUD ‘000) • Home prices in London and Melbourne Dec-23, Dec-23, fell in2023: Dec-22, Dec-21, 134.9 Dec-22, 1360 • Inner London: ↓4.9% in Jan-Dec 2023 140.7 1,365 1,304 • Outer London: ↓4.1% in Jan-Dec 2023 • Melbou
Slide 7: Market Updates
MARKET UPDATES • UK construction cost index as at December 2023 has UK construction output price index for declined by 0.4% from the record-high level in June new housing (2015 =100) 2023. • However, it remained 3.8% higher than a year ago. Dec-23, Dec-22, 134.6 139.7 • Construction costs have incre
Slide 8: Strategic Focus for FY2024
STRATEGIC FOCUS FOR FY2024 WEAK SENTIMENT DEFERRING LAUNCHES/ACQUISITIONS High cost of living and elevated interest rates have led It remains unconducive for the Group to undertake to weak sentiment among potential homebuyers. any new launches or acquisitions in the near term. MONETISING COMPLETED T
Slide 9: Conclusion
CONCLUSION The Group successfully distributed RM936 million dividends to shareholders for FY2023. RM1.18 billion sales were achieved in FY2023, with approximately RM850 million worth of stocks to be sold by end of FY2024. The Group targets to sell out all these stocks in FY2024 and return the excess
Slide 10: Questions from MSWG
QUESTIONS FROM MSWG 1. The Group did not record any sales of completed properties for projects located in Lampton and minimum sales in Moberley & Jubilee and Millbrook Park in FY 2023 respectively. (Page 11 of IAR) a) Please explain why there was no sales for Lampton and minimum sales in Moberley &
Slide 11: Questions from MSWG
QUESTIONS FROM MSWG 2. The Group’s gross profit margin reduced to 17% in FY2023 from 19% in FY2022 due to additional incentives provided to purchasers of Australian projects to stimulate sales. (Page 11 of IAR) a) What were the additional incentives given to the Australian purchasers to purchase the
Slide 12: Questions from MSWG
QUESTIONS FROM MSWG 3. During the current financial year, the Group intends to dispose of its land held in Eco World (Macquarie) Pty. Ltd. (“EW Macquarie”). (Page 77 of IAR) a) Why the Group decided to sell the land held in EW Macquarie? b) What will be the financial impact to the Group’s result res
Slide 13: Questions from MSWG
QUESTIONS FROM MSWG 4. The Group’s developed properties reduced from RM114.4 million in FY 2022 to RM31.37 million in FY 2023, a reduction of RM83.03 million or 72.6%. (Page 113 of IAR) a) How the Group managed to sell RM83.03 million of developed properties in FY 2023. b) Did the Group sacrifice th
Slide 14: Thank You
THANK YOU INTERNATIONAL
Eco World International — Shareholder Meeting (May 2024) on 6ix