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
An assessment of Eco World Development's (ECW) ESG matters derives a score of 69 (out of 100), making its ESG rating above average.
對Eco World Development（ECW）的ESG事項的評估得分爲69（滿分100），使其ESG評級高於平均水平。
Maybank Investment Bank (Maybank IB) said today that ECW has relatively better disclosures compared to its peers especially on GHG emissions reporting.
馬來亞銀行投資銀行（馬來亞銀行IB）今日表示，ECW在GHG排放報告方面相對於同行來說披露更爲充分。
It aims to achieve Net Zero emissions by 2050
Maybank IB maintains their earnings forecasts, MYR1.96 TP and BUY rating on ECW.
它的目標是在2050年實現淨零碳排放。
馬來亞銀行IB維持其對ECW的盈利預測，MYR1.96巴仙的目標價以及買入評級。
Maybank IB's assessment is based on disclosures in ECW's FY23 Sustainability and Corporate Governance Reports.
馬來亞銀行IB的評估是基於ECW在其FY23可持續性和企業治理報告中的披露。
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的整體ESG評分爲69分，高於平均水平，接近同行業者Sime Darby Property（SDPR Mk、買入、參考價格：MYR1.45，目標價：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的得分本來會更高，如果不是由於能源和廢棄物強度上升的趨勢以及董事會獨立董事的比例下降至55％（FY22：58％）隨着兩名獨立董事在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年實現淨零碳排放。
相較於我們監測的其他房地產開發商，ECW披露的信息相對更好，特別是在GHG排放報告方面。它已在FY23中明確說明了其中期溫室氣體排放目標。
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年淨零排放路線圖，並引入了一個集團範圍的目標，即將第2範圍的溫室氣體排放在2025年降低20％，在2030年降低30％，而基準年份爲FY19，排放量爲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).
該行業的領導者
馬來亞銀行IB繼續看好ECW的管理團隊親力親爲，銷售和產品創新方面的實證記錄以及健康的資產負債表（資產負債比率在2QFY24期末爲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.
它成功地以價值4020萬令吉的土地銷售賣給微軟，用以證明管理團隊的能力。
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.
在健康的資產負債表支持下，ECW計劃在FY24E支付至少6仙的每股派息（4％的收益率）。與此同時，ECW正在積極尋找新的用地機會，馬來亞銀行IB補充道。