Eco World Development Sdn Bhd, the parent company of Focal Aims Holdings Bhd,
recorded over RM1 billion in property sales over the last 30 days, according to media
reports.
“It's a rarity for an untested developer to receive such backing,” noted Edmund Tham,
Head of Research at Mercury Securities.
Backed by the personalities in Eco World, Focal Aims is set to become a key player in
Malaysia's property development segment.
This confidence comes from the belief that Eco World Development will ultimately be
helmed by Tan Sri Liew Kee Sin.
A major stakeholder in property developer SP Setia Bhd prior to being taken over by
Permodalan Nasional Bhd, Liew was responsible for establishing the market perception
which equates SP Setia with quality homes.
Two months ago, Liew Tian Xiong, the eldest son of Liew, along with former stockbroker
Datuk Eddie Leong Kok Wah and Tan Sri Abdul Rashid Abdul Manaf, SP Setia's former
director, gained majority control (65 percent) of Focal Aims.
With this, some of Eco World's assets are expected to be injected into Focal soon, said
people familiar with the matter. Market rumour is that the asset injection will see a new
shareholder within Focal, in the person of Tan Sri Syed Mokthar Albukhary, due to his
close association to the elder Liew and Leong.
Meanwhile, DRB-HICOM Bhd announced in April that it had sold 623.29 acres of land to Eco
World for RM604.65 million.
Eco World used some of the land to launch its first two project – the Eco Sky project in
Taman Wahyu in Kuala Lumpur and the Eco Botanic project in Nusajaya, Johor.
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