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EcoFirst increased profits despite lower revenue by cutting costs through value engineering and lower interest expenses, with property development contributing RM256.6M and rental income rising to RM13.3M from improved occupancy.
This one really show smart cost control since they can still squeeze out better profit even though revenue drop quite a bit. Property side doing the heavy lifting while that rental income increase is a nice steady bonus for them
In the short term, Ecofirst may test 36.5 sen. If buying momentum continues to strengthen, the price could rise further to 39 sen. Conversely, if it falls below key support levels, the current bullish structure would weaken, potentially leading to further downside risk.
Ecofirst technical setup looking okay but better wait for clearer breakout momentum before entering. Don't chase the rally yet because volume still quite thin for now.
Market players still blur about the potential from their future project pipeline so the current price is definitely undervaluing the growth. You just need to tahan and wait for the sentiment to catch up when the earnings start reflecting the actual work.
