Quantum Gives EcoWorld Positive Medium Term Development
Quantum Gives EcoWorld Positive Medium Term Development
Eco World Development Group Berhad (ECW) showcased promising growth in its new industrial revenue pillar, QUANTUM, as detailed in reports by Maybank Investment Bank (Maybank), Kenanga Investment Bank (Kenanga), and MIDF Amanah Investment Bank (MIDF). The initiative aimed to capture market share in the industrial segment, focusing on data centres, AI, cloud computing, high-tech manufacturing, and R&D. ECW rebranded its 404-acre industrial park in Kulai to Quantum Edge, securing Microsoft as its first anchor client.
Eco World Development Group Berhad(ECW)在其新的工业收入支柱QUANTUm中展示了令人充满希望的增长,据马来亚银行投资银行(Maybank)Kenanga投资银行(Kenanga)和MIDF Amanah 的报告。该计划旨在占据工业市场份额,专注于数据中心、人工智能、云计算、高科技制造和研发。ECW将其位于居来的404英亩工业园区重新命名为Quantum Edge,确保微软成为其第一个锚定客户。
Maybank reiterated its BUY rating on ECW, maintaining an earnings forecast and target price (TP) of RM1.96. Kenanga held an UNDERPERFORM stance with a TP of RM1.41, while MIDF maintained a NEUTRAL call but revised its TP to RM1.79 from RM1.63.
Maybank重申对ECW的买入评级,维持了每股收益预测和目标价(TP)为1.96马币。Kenanga保持了下滑趋势,目标价为1.41马币,而MIDF则维持了中立观点,但将其目标价从1.63马币上调至1.79马币。
According to Maybank, the QUANTUM pillar was expected to strengthen ECW's high-tech segment's market strategy, ecosystem, and branding. The strategy remained focused on land sales and industrial properties, with potential asset ownership considered after evaluating balance sheet opportunities and returns. ECW's robust balance sheet, with a net gearing of 0.24x, and its ability to secure Microsoft, illustrated its management's capability.
据Maybank称,Quantum支柱有望加强ECW的高科技领域的市场策略、生态系统和品牌形象。该策略仍着重于土地销售和工业物业,并考虑在评估资产表机会和回报后考虑潜在的资产所有权。ECW强大的资产负债表,净杆杆率为0.24x,以及其确保微软的能力,展示了其管理能力。
Kenanga highlighted ECW's attempt to elevate its industrial products by rebranding them under the QUANTUM name, starting with Eco Business Park VI in Kulai. The presence of Microsoft added prestige, though the data centre did not bring a high-value supply chain. Kenanga noted that ECW's industrial products under the Eco Business Park brand had shown high growth, with a sales CAGR of 68% between FY20 and FY23. However, the bank did not foresee a significant earnings impact from the new initiative within the forecast period.
Kenanga强调ECW试图通过将其工业产品更名为QUANTUm,从而提高其工业产品的水平,从居来的Eco Business Park VI开始。微软的存在增添了声望,尽管数据中心未带来高价值供应链。Kenanga指出,在Eco Business Park品牌下的工业产品在FY20至FY23之间的销售复合年增长率为68%,但该银行不预见新计划在预测期内对收益产生重大影响。
MIDF viewed the QUANTUM pillar as a positive medium-term development for ECW, expecting it to benefit from the growing demand for high-tech facilities in Malaysia. The Quantum Edge project, with Microsoft's involvement, was seen as a catalyst for future growth in the industrial property segment. Despite maintaining its earnings forecast, MIDF revised its TP upwards, citing improved earnings visibility for the industrial division.
MIDF认为QUANTUm支柱是ECW的积极中期发展,预计它将从马来西亚高科技设施的不断增长中受益。Quantum Edge项目与微软的合作被视为未来扩大工业物业板块的催化剂。尽管保持其盈利预测,但MIDF上调了其目标价,称它改善了工业部门的盈利可见性。
ECW's new initiative aimed to accelerate the development of Eco Business Park VI, enhancing sales and margins. The presence of Microsoft, alongside potential future clients in the high-tech sector, positioned ECW favourably within the industrial market. The company's stable earnings outlook and active pursuit of new landbank opportunities, with a sales target of RM3.5 billion for FY24, underscored its strategic growth ambitions. Investment banks' varied ratings reflected differing perspectives on ECW's valuation and potential earnings impact from the QUANTUM pillar.
ECW的新计划旨在加快Eco Business Park VI的发展,提高销售和利润率。微软的存在以及未来可能在高科技行业拥有的潜在客户,使ECW在工业市场上处于有利地位。该公司稳定的盈利前景和积极寻找新土地银行机会的举措,其FY24销售目标为35亿,强调了其战略增长雄心。投资银行对ECW的估值和QUANTUm支柱可能带来的盈利影响有不同的评级,反映了不同的看法。