PETALING JAYA: Eco World International Bhd
(EWI) continues to make progress with the monetisation of inventories and sales of completed stocks, which are estimated to generate excess cash up to RM500mil for the group over 2024 and 2025.
For the first quarter ended Jan 31, 2024 (1Q24), EWI recorded a pre-tax profit of RM1.5mil compared to a pre-tax loss of RM30.4mil in 1Q23.
This was mainly due to foreign-exchange gains from the appreciation of the pound sterling against the ringgit on repayment of advances by EcoWorld-Ballymore and conversion of pound sterling-denominated bank balances in 1Q24, as opposed to foreign-exchange losses recorded in 1Q23.
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