{
  "id": 8826427,
  "title": "EcoWorld's Singapore land buy seen bearing fruit from FY29",
  "url": "https://urgent.news/2026/09/21/ecoworlds-singapore-land-buy-seen-bearing-fruit-from-fy29",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T02:51:24.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1537357/ecoworlds-singapore-land-buy-seen-bearing-fruit-fy29"
  },
  "original_language": "en",
  "account": "EcoWorld Development Group Bhd's recent purchase of a prime Singapore residential site is anticipated to boost the company's earnings from FY29 onwards, according to RHB Research. The firm secured the land for S$208.1 million through a tender managed by Singapore's Urban Redevelopment Authority. Despite the bid price being slightly high, RHB Research remains positive about the acquisition, highlighting the strategic location and amenities surrounding the site. The company estimates a gross development value of RM1.3 billion for the project, expecting encouraging demand due to its prime location. RHB Research maintains a Buy rating on the stock but lowers its target price to RM2.66 from RM2.78, citing volatile geopolitical conditions in the Middle East and local political uncertainty. Meanwhile, Public Investment Bank Bhd expects the land deal to be completed by yearend 2026, with EcoWorld planning to launch the project in 2028 under its Versione series.",
  "summary": "KUALA LUMPUR: Eco World Development Group Bhd’s (EcoWorld) latest acquisition of a prime residential site in Singapore is expected to contribute to the group's earnings from financial year 2029 (FY29) onwards, RHB Research said.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}