EWI Capital to Enter Malaysia Property Market as Overseas Focus Shifts
Eco World International Bhd (KL:EWINT) — soon to be renamed EWI Capital Bhd — has announced its strategic entry into the Malaysian real estate market, a major shift from its original mandate to focus exclusively on overseas developments in the UK and Australia.
This change is driven by persistent headwinds abroad and a more favourable domestic environment. It also entails the termination of a collaboration agreement with Eco World Development Group Bhd (KL:ECOWLD) that previously restricted EWI from operating locally.
“Exploring new investment and development opportunities in Malaysia is the best way forward,” said Datuk Teow Leong Seng, EWI’s president and CEO.
End of Overseas-Only Strategy and Rebranding to EWI Capital
EWI’s new strategy includes:
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Entering Malaysia’s domestic property market
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Terminating the collaboration agreement with EcoWorld Malaysia
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Proposing a name change to EWI Capital Bhd to reflect the new direction
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Selling non-core assets in the UK and Australia to raise capital for Malaysian ventures
Previously, EWI was barred from developing in Malaysia due to its exclusive international mandate. The revised arrangement now frees both EWI and EcoWorld Malaysia to operate independently — both locally and abroad.
Why the Shift to Malaysia Now?
EWI cited several global challenges that have constrained its performance:
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Supply chain disruptions
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High energy and construction costs
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Tight labour markets
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Elevated interest and mortgage rates
These factors, particularly in the UK and Australian markets, resulted in delayed revenue recognition and dampened buyer sentiment.
In contrast, Malaysia offers:
✅ Progressive revenue recognition under accounting standards
✅ A more stable economic outlook
✅ Management’s familiarity with the local property market
✅ Easier financing and approvals for new launches
What Happens to the EcoWorld Branding?
With the agreement between EWI and EcoWorld Malaysia terminated, the mutual brand licensing of “EcoWorld” will end. The rebranding to EWI Capital Bhd aims to prevent confusion once EWI begins active project development in Malaysia.
This signals a clear brand separation between the two companies, even though EcoWorld Malaysia still holds a 29% stake in EWI.
Key Shareholder Changes and Board Realignments
To manage potential conflict of interest, two prominent figures have resigned from EWI’s board:
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Tan Sri Liew Kee Sin, Executive Chairman of EcoWorld Malaysia
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Datuk Heah Kok Boon, alternate director
EcoWorld Malaysia will now treat its EWI stake as a passive investment, rather than an associate company.
Meanwhile, Paramount Corp Bhd, which owns 21.54% of EWI, stands to gain from this strategic shift. Paramount purchased its stake in May 2023 to accelerate its international diversification.
Industry Implications: Competition, Collaboration, and Capital
With EWI Capital Malaysia property expansion in play, the local market could see:
✅ New project launches by a seasoned developer with international experience
✅ Opportunities for future joint ventures between EWI and EcoWorld Malaysia
✅ Potential land acquisitions in Greater KL, Penang, or Iskandar
✅ Competition intensifying among mid- to high-end residential and mixed-use players
“Future collaborations with EcoWorld Malaysia are still possible — such as development management services,” Teow noted.
With zero gearing, a healthy cash position, and RM19 billion in cumulative sales since inception, EWI Capital is well-positioned to execute local projects even as it maintains selective presence overseas.
Final Thoughts: EWI Capital Repositions for Growth in Malaysia
The transformation of Eco World International into EWI Capital Bhd signals more than a rebrand — it represents a strategic pivot toward sustainable, progressive growth within Malaysia’s property sector.
Backed by deep development expertise, institutional shareholders, and flexibility to explore both domestic and overseas opportunities, EWI Capital could emerge as a formidable player in the Malaysian property scene over the next few years.
For property investors, landowners, and even competitors, it’s a move worth watching closely.
