Eco World Scores Above Average ESG Rating Supported By Proven Track Record, Healthy Balance Sheet
Eco World Scores Above Average ESG Rating Supported By Proven Track Record, Healthy Balance Sheet
Maybank IB's assessment is based on disclosures in ECW's FY23 Sustainability and Corporate Governance Reports.An assessment of Eco World Development's (ECW) ESG matters derives a score of 69 (out of 100), making its ESG rating above average.
对Eco World Development（ECW）的ESG事项的评估得分为69（满分100），使其ESG评级高于平均水平。
Maybank Investment Bank (Maybank IB) said today that ECW has relatively better disclosures compared to its peers especially on GHG emissions reporting.
马来亚银行投资银行（马来亚银行IB）今日表示，ECW在GHG排放报告方面相对于同行来说披露更为充分。
It aims to achieve Net Zero emissions by 2050
Maybank IB maintains their earnings forecasts, MYR1.96 TP and BUY rating on ECW.
它的目标是在2050年实现净零碳排放。
马来亚银行IB维持其对ECW的盈利预测，MYR1.96巴仙的目标价以及买入评级。
Maybank IB's assessment is based on disclosures in ECW's FY23 Sustainability and Corporate Governance Reports.
马来亚银行IB的评估是基于ECW在其FY23可持续性和企业治理报告中的披露。
ECW's overall ESG score of 69 is above average, which is close to its sector peer, Sime Darby Property (SDPR MK, BUY, CP: MYR1.45, TP: MYR1.40) at 63.
ECW的整体ESG评分为69分，高于平均水平，接近同行业者Sime Darby Property（SDPR Mk、买入、参考价格：MYR1.45，目标价：MYR1.40）的63分。
ECW's score would have been higher if not for the rising trend in its energy and waste intensity and a lower percentage of independent directors on its Board at 55% (FY22: 58%) following the retirement of two independent directors in FY23.
ECW的得分本来会更高，如果不是由于能源和废弃物强度上升的趋势以及董事会独立董事的比例下降至55％（FY22：58％）随着两名独立董事在FY23退休。
Targeting Net Zero emissions by 2050
ECW has relatively better disclosures, especially on GHG emissions reporting, as compared to the other property developers under our coverage. It has clearly stated its medium-term GHG emission targets in FY23.
旨在在2050年实现净零碳排放。
相较于我们监测的其他房地产开发商，ECW披露的信息相对更好，特别是在GHG排放报告方面。它已在FY23中明确说明了其中期温室气体排放目标。
In FY23, ECW developed its Net Zero 2050 Roadmap and introduced a group-wide target to reduce Scope 2 GHG emissions by 20% by 2025 and 30% by 2030, compared to FY19 baseline of 6,976 tCO2e.
在FY23，ECW制定了其2050年净零排放路线图，并引入了一个集团范围的目标，即将第2范围的温室气体排放在2025年降低20％，在2030年降低30％，而基准年份为FY19，排放量为6,976 tCO2e。
The sector leader
Maybank IB continues to like ECW for its hands-on management, proven track record (in term of sales and product creativity) and healthy balance sheet (0.24x net gearing in end-2QFY24).
该行业的领导者
马来亚银行IB继续看好ECW的管理团队亲力亲为，销售和产品创新方面的实证记录以及健康的资产负债表（资产负债比率在2QFY24期末为0.24倍）。
Its ability to secure Microsoft for its upcoming Eco Business Park VI (via a MYR402m land sale) is testament to management's capability.
它成功地以价值4020万令吉的土地销售卖给微软，用以证明管理团队的能力。
Backed by a healthy balance sheet, ECW is looking to pay at least 6sen DPS in FY24E (4% yield). Meanwhile, ECW is actively seeking new landbank opportunities, Maybank IB added.
在健康的资产负债表支持下，ECW计划在FY24E支付至少6仙的每股派息（4％的收益率）。与此同时，ECW正在积极寻找新的用地机会，马来亚银行IB补充道。