Eco World

From the Edge:

KUALA LUMPUR (June 17): Eco World International Bhd (EWI), a special purpose entity set up by the major shareholders of Eco World Development Group Bhd ( Financial Dashboard) to acquire real estate assets for development overseas, has withdrawn its plans to list as a special purpose acquisition company (SPAC) that was to raise RM1.5 billion from the exercise.

Instead, the property company is seeking a direct listing on the Main Market of Bursa Malaysia, looking to raise a higher sum of RM2 billion.

EWI would have been the country's first property SPAC.

EWI executive vice-chairman Tan Sri Liew Kee Sin said it will file an initial public offering (IPO) application within the next three months.

"We are planning to list the company by the end of this year," he told a press conference on Eco World’s second-quarter financial results and EWI update today.

 I can't think of another company quite like Eco World in Malaysia.  I can think of two very relevant companies in the world similar to Eco World, Apple and Tesla.

You might be thinking, no way Eco World compares to Apple and Tesla.  But they are similar in one major area.  I call it the psycho factor.  Tesla is a car company and people go nuts over their cars.  There are Tesla car club members. I never heard of a car club until I heard of Tesla.  In the same regard, when Apple products launch, you can see people queuing up around the block to get the newly released apple product.

Eco World has the same psycho effect on crowds.  Queue's of people lining up at 6 am to try and get the newest project launch.  What other companies do you know that drive people into a psycho frenzy whenever they launch something new?