EWI targets assets in northern England

By Sharen Kaur

Published in NST, March 14, 2016

KUALA LUMPUR: ECO World International Bhd (EWI), which plans to sell shares on Bursa Malaysia this year, may acquire assets in northern England.

   

  President and chief executive officer Datuk Teow Leong Seng said EWI had been invited by the UK Trade & Investment to explore development opportunities in Manchester, Leeds, Liverpool and Birmingham.

   

  "We are keeping an open mind. We haven't come to any conclusion, but anything is possible as we are always looking to buy assets, given the right location, product and pricing. It could be a parcel of land, an ongoing development or a regeneration project," he said.

   

  Teoh said EWI was currently busy with its plan to list this year and the three ongoing property projects in London.

   

  EWI hopes to list on the Main Market of Bursa Malaysia by the middle of this year, subject to Securities Commission (SC) processes.

   

  It aims to raise more than RM2 billion to undertake expansion and acquire assets.

   

  The SC has uploaded EWI's prospectus on its website for comments from the public.

   

  In London, EWI is currently developing London City Island Phase 2, Embassy Gardens Phase 2 and Wardian London, and also West Village in Parramatta, Sydney.

   

  The four projects have a combined gross development value of around RM13 billion.

   

  Teoh said despite the current global turmoil, EWI would continue to launch more phases in the three London projects.

   

  "In fact, we are actively launching every month. Between now and December, we will launch another phase in Embassy Gardens, comprising a tower with more than 20 levels. In London City Island and Waridian, we will launch residential towers of between 50 and 55 floors. We are very bullish on prospects and there will be more launches next year," he said.