KUALA LUMPUR (July 23): Tan Sri Liew Kee Sin, executive chairman of Eco World Development Group Bhd (KL:ECOWLD), has disposed of a total of 100 million shares, or a 3.36% stake, in the company within two trading days — last Friday and Monday.

According to EcoWorld’s filing with Bursa Malaysia, Liew sold 50 million shares, representing a 1.68% direct stake, on Monday. An additional 48.88 million shares or 1.64% stake were disposed of via his indirect holding through Eco World Development Holdings Sdn Bhd.

Bloomberg data indicates that the block of shares was transacted via a direct deal on Monday at an average price of RM1.89 per share — a 10.7% discount to the closing price of RM2.12. The transaction is valued at about RM187.23 million.

EcoWorld’s shares closed unchanged at RM2.11 on Wednesday — near its record-high of RM2.12 on July 21 this year — valuing the group at RM6.29 billion.

Last Friday, Liew sold another 1.12 million shares. Based on the volume-weighted average price of RM2.12 that day, the block is estimated to be worth RM2.38 million.

Following the disposals, Liew retains an 18.62% deemed interest in the company — comprising a 6.91% direct stake and an 11.72% indirect stake — making him the second-largest shareholder of the property developer.

The largest shareholder remains Sinarmas Harta Sdn Bhd, with a 32.54% stake. Sinarmas Harta is a wholly-owned subsidiary of Syabas Tropikal Sdn Bhd, which is 99.99%-owned by EcoWorld’s non-independent non-executive director Datuk Leong Kok Wah, who was redesignated from deputy chairman at the end of last year.

Other substantial shareholders in EcoWorld include Liew’s son and executive director Liew Tian Xiong (with a 7.31% stake) and his wife Puan Sri Datin Sri How Teng Teng (6.03% stake).

For the first half of FY2025 (1HFY2025), EcoWorld’s net profit rose 50.5% to RM210.18 million from RM139.68 million, while revenue climbed 29.7% to RM1.42 billion from RM1.09 billion.

The company declared a dividend of three sen for the period, up from two sen in 1HFY2024.

As of May 31, 2025, EcoWorld achieved RM2.99 billion in sales — representing 85% of its full-year target and marking a 37% increase over the same period last year.