About EcoWorld ... Trades At Whopping PER Of 46 Times 2013 Earnings .

For the 12 months ended September 30 2013, Eco World’s net profit was up by more than 300% to RM24.26 million from RM7.20 million in the same period the previous year.

Despite the profit increase, Eco World now (06 Jan 2014) trades at a PER of 45.82 times. Meanwhile, SP Setia, the country’s top developer, trades at a P/E ratio of 16.45 times, and its forward P/E ratio for this year is 13.23 times.

The benchmark FTSE Bursa Malaysia KLCI currently (06 Jan 2014) trades at a PER of 17.71 times.

This means that Eco World's earnings must go up at least three times for its P/E ratio to be in line with the market's average.

World's premium attraction is its landbank.

Prior to gaining control of the listed entity, the privately-held Eco World had purchased a staggering 1,214ha in Johor and Kuala Lumpur for more than RM600 million, some of it from DRB-HICOM Bhd.

The gross development value of this landbank is estimated at RM30 billion, eclipsing that of some established listed entities.

Beyond that, the company has been linked to be a proxy of Liew senior, and the controlling stakeholder of DRB-HICOM.

Nothing has materialised thus far, but there is enough spice to keep the market guessing and punters speculating.