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One of Northern Ireland s leading pre-fabricated construction firms has won a £24m contract in London.
Kane Group in Banbridge will deliver mechanical, electrical and plumbing installation of phase one and two of the Kew Bridge development in Brentford.
The project involves construction of 509 apartments for private renting. They will be contained within five blocks ranging between 12 and 15 storeys with concealed ground floor car parks.
The deals have been awarded by EcoWorld, which is part of EcoWorld International, listed on the Main Market of Bursa Malaysia Securities Berhad.
Kane has annual turnover of around £55m and 200 staff.
Managing director Cathal McMullan said: We at Kane are looking forward to delivering a superior M&E project for our new client, EcoWorld, while building a long-lasting collaborative relationship. Our in-house design and prefabrication teams will showcase our ability in delivering off-site construction solutions in the high-rise residential marke
EcoWorld Malaysia chairman Tan Sri Liew Kee Sin )pic) said that on a combined basis, the EcoWorld brand achieved RM3.7bil sales in Malaysia, the UK and Australia.
KUALA LUMPUR: EcoWorld Malaysia exceeded its financial year (FY) 2020 sales target of RM2bil by 15% with full-year sales amounting to RM2.3bil.
In a statement following its results, EcoWorld Malaysia said sales in the fourth quarter (Q4) 2020 exceeded RM1bil – higher than the RM960mil recorded in Q3,2020.
Collectively, the second half 2020 sales comprise 85% of total sales in FY2020.
It said revenue in the final quarter of the year was the highest recorded, signifying a healthy rebound in sales as well as construction progress as a result of the relaxation of the movement control order (MCO) from Q3 onwards.
Eco World Development posts lower Q4 earnings on inventory writedowns 17 Dec 2020 / 22:41 H.
PETALING JAYA: Eco World Development Group Bhd’s net profit slid 18.4% to RM66.46 million for its fourth quarter ended Oct 31 against RM81.46 million reported in the same quarter of last year attributed to a RM33 million writedown of inventories during the quarter following a detailed review of residual unsold stock within phases that have been handed over.
Revenue for the period stood at RM635.47 million, a 29.9% tumble from RM906.54 million reported previously.
According to its Bursa disclosure, the group saw a 32% decrease in finance costs for the quarter due to loan repayments and lower interest rates on floating rate loans, arising from the reduction in the Overnight Policy Rates by Bank Negara Malaysia.
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