Thanks Wondermama.I guest the 2 other news should be very good catalyst to move

Thanks Wondermama. Hope the sleeping MD wakes up and heard this

Testing patience ....they should not burden investors w their poor execution

Simon, need your opinion again on E&O. Thx in advance

Thanks for confidence

Looks like not desirable

Boss Simon, I follow a lot of your comment and blog. Can you advice movement tomorrow base on your reading of E&O and market.

Thank you bro Simon

Anyone offer icon sponsorship yet??

Let's all sleep....maybe wake up things will be better

Desa you just gave me an idea. Mosquito repellent gloves!!

Use glove catch mosquito kakakaka

Me too stay at 3. Tomorrow AG Swiss talk how?

Luxchem Benefit from Zika??

Very slow

heap finally got the SRR information right

With Ewein showing the way on the valuation, the link below is even more meaningful

http://www.theedgemarkets.com/my/article/eo’s-ca-step-monetise-stp2

We will see if the market rebound further second half

BNM announce reduce in SRR fr 4 to 3.5%. More liquidity in market staring from 1st Feb.

Sad..even Terence Wong Said it was a gd stock but I think he shud add on the lousy job by mgmt

its now or never. Penang fever pitch high on property and E&O business is repeated business from abroad.

Thank you Greentrade.

Today there is another buying announcement by EPF...GLC play with GLC??

Mightymouses and Oldcable, you ask right question...why and who is Jauhari. Same story as the rumor????

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4931445

Rumor, just rumor....!!

The agreement of Terry Tham to buy at 2.90 from Sime while earlier selling to them at 2.30 was base on the understanding that as long as TT delivered the STP2 approvals and UK, the conglomerate which will be formed would take all private which include SP Setia, E&O and lead the charge to diversify in UK.

overbought position again

Ks55 we only want factual news whether good or bad but must be constructive. We don't want ppl like anti_debt making empty statement like state approval not given yet, fed approval not given yet, when all this are clearly reported in mainstream media a year ago.

Thank you ks55 for positive feedback

Thanks EnO_turboblast. Just be patient for the rest. The value is definitely not reflective at the moment

Buy the warrant. Refer to all the comment and work the numbers backwards and the warrant will be 60 to65cents at mother rm2.60

Ivory, what are you asking? Pls don't make yourself silly here

Posted by Ivory > Nov 1, 2015 08:57 PM | Report Abuse

mightymouses can you answer have E&O launch house sale on STP2?

Ivory, spend some time to read the comments. Many have spent valuable time sharing the info you are asking. I have also compiled the comment and share and yet we still see all this questions for quick answers. There is no short cut. Read and find out where others have taken the trouble to share.

Try to think this way
When we think property development we think GDC vs GDV
Similarly, when they reclaim the land, the land can also be sold with profit and appreciation if they do not want to proceed to develop the land. That would be even faster flip

I don't see any other area of concern

Whether right or wrong, we use our own calculation to substantiate. This exercise lock in the cost which is key essential moving forward. Nothing to argue there neither the debt since already explain together with also the price to RNAV of 0.4

Guys this is business while the progressive payment is similar to buying house but we must remember they will make more with than the loan. In addition what this means is the options are wide now. If JV is better at this point of time then choose JV if they can find but if they feel flipping is more important than again it is a business decision. The important thing is with all the approval, they hv choices and not just stuck with one option. They will choose the option that makes most sense and money in shortest time I believe

For those who still want to argue, pls show me a prime land on Penang island that you can buy for less than RM75psf as would be the cost for E&O to reclaim and I will try to see your point of view

Where you get 3.2b debt??
Anti_debt, since today I hv a bit more time I just share lah with you ok.
Firstly reclamation cost is substantially reduced from earlier suggested 150psf. In fact it was reduced half. What was calculated, pls use your own calculator so you don't get confused
Phase 2A = 253 (original reclamation ) + 131 (foreshore Gurney) = 384 acres
384acres = 1673e+7
Therefore 1673e+7 * 150 = RM 2.51Billion vs Phase 2A current award at RM1.035Billion

It is more than half of initial thought cost. Hope that is clear!

Now you hv to understand that, you only pay interest for what the bank has release in loan. In this case, just take Phase 2A, the bank will not release the loan of RM1.035B, that's why Terry explain that they are finalizing the TERM loan. This term loan is only release upon completion of stages in reclamation! Exactly like housing loan whereby completion of each stage stipulated, will warrant the disbursement of funds.

So if you now understand debt and loan and not make statement s above, I will explain the following

Once the completed 88acres roughly, they will be able to pay for the reclamation
88acres = 3.833e+6sq ft
Roughly minimum land price psf range between 400-500psf
Take the lower of the range ie 400
Just reclamation alone,they can sell the 88acres reclaim land at
=3.833e+6*400=1,533,200,000 ie RM1.5B vs cost of RM1.035 Phase 2A cost for 384acres.

This means 88acress complete can pay more than Phase2A 384acres cost.

Now if you understand that, it will never be accumulated debt. More so if they get a JV partner and even more so a ready buyer. Take note that Penang PDP and PTMP also moving ahead which will tie it seamless infrastructure to the mainland

So now they hv also secure the term loan and it is just a matter of contra upon each term release fund and ensure he asset at the end will interest free with more extraordinary gain.

As for UK foray, as Gregorian said, the announcement is expected end of Nov or December. Debt exposure is down to 0.38 fr 0.6. So what debt are you worried about????

Read the point no 4 written by EnO_Turboblast on option written sometime back and compiled below. Loan is secured already. Similar to us buying houses with loan from bank for 20-30years and we bring down the loan principal sum each time we hv bonus or make money fr stock market or sell another house.....but it all depends on timing isn't it? In this case, E&O can settle their phase 2A debt by selling once certain proportion is completed to pay off they loan in totality for that phase.

http://klse.i3investor.com/servlets/forum/902240796.jsp

Ppl keep forgetting that the cost of the reclamation is cut by more than 50% from he original 150psf but harp on the funding. As Terry Tham in the end of the Bursa announcement mentioned that they are finalizing on the TERM loan and reclamation is to proceed in Dec, ppl need to realize that it is the first roll amongst the 3phases. They only need to develop 88acres and settle the loan if they choose to selling it at 400-500psf. Do the calculation and you will understand what I mean

No more land in Penang island. What do you think??

Some ppl just cannot read! They want to be spoon fed. Sigh!!

Patience if you want to win big.

Don't Sell!! BUY!

But let us focus on the value that E&O bring to the table first. STP1 Tamarind 1 was a huge success while Tamarind 2 has registered interest. E&O will also bring to the table, their foreign marketing to Singapore, Taiwan, Japan, UK, . And their UK properties once listed on AIMS can taken private with additional 3% for MGO when times are better

Bro I think your points on takeover is very true and logical. For one, Sime as a GLC would hv trouble obtaining Penang State Govt Approval if they bought over E&O too early as LGE is PRO Penang homegrown developers.

No sooner after I posted ......LOA FOR STP2 IS AWARDED

OTHERS EASTERN & ORIENTAL BERHAD ("E&O" or "COMPANY") AWARD OF LAND RECLAMATION CONTRACT TO CHINA COMMUNICATIONS CONSTRUCTION COMPANY (M) SDN BHD ("CCCC(M)") FOR SERI TANJUNG PINANG PHASE 2

EASTERN & ORIENTAL BERHAD

Type Announcement
Subject OTHERS
Description EASTERN & ORIENTAL BERHAD ("E&O" or "COMPANY")
AWARD OF LAND RECLAMATION CONTRACT TO CHINA COMMUNICATIONS CONSTRUCTION COMPANY (M) SDN BHD ("CCCC(M)") FOR SERI TANJUNG PINANG PHASE 2
We refer to the announcements dated 12 April 2011, 14 April 2014, 10 June 2014 and 8 December 2014 in relation to Seri Tanjung Pinang Phase 2.

The Board of Directors of E&O is pleased to further announce that Tanjung Pinang Development Sdn Bhd (“TPD”), a subsidiary of E&O, had on 28 October 2015 issued a letter of award (“LOA”) to CCCC(M), a wholly owned Malaysian subsidiary of China Communications Construction Company Limited, to undertake the land reclamation works for Seri Tanjung Pinang Phase 2.

The LOA serves primarily as an acceptance of the tender to reclaim Phase 2A of Seri Tanjung Pinang Phase 2, an area of approximately 384 acres (inclusive of the 131 acres Gurney Drive foreshore) (“Package 1”) for a contract sum of approximately RM1.035 billion. The prescribed period to complete reclamation works under Package 1 shall be approximately 30 months from the formal acceptance of the LOA by CCCC(M).

The LOA also includes the conditional award for the proposed land reclamation works for the remainder of Seri Tanjung Pinang Phase 2, made up of Phase 2B and Phase 2C covering an area of approximately 507 acres (“Package 2”). The contract sum for Package 2 is approximately RM1.285 billion subject to adjustments arising from fluctuations in exchange rate and the price of fuel, and changes in cost if applicable. The award of Package 2 shall be strictly conditional upon the approvals of the board of directors of TPD and E&O and of the relevant regulatory authority on the scheduling of works.

Following on from the previous announcements on approvals in hand, and now with the award, physical works in regards to Seri Tanjung Pinang Phase 2 will commence in the near future.

This announcement is dated 28 October 2015.

Ks55, read EnO_Turboblast point no 4 on Options

Hahahaha....sudah Mari....announcement as all anticipated!!!!


OTHERS EASTERN & ORIENTAL BERHAD ("E&O" or "COMPANY") AWARD OF LAND RECLAMATION CONTRACT TO CHINA COMMUNICATIONS CONSTRUCTION COMPANY (M) SDN BHD ("CCCC(M)") FOR SERI TANJUNG PINANG PHASE 2

EASTERN & ORIENTAL BERHAD

Type Announcement
Subject OTHERS
Description EASTERN & ORIENTAL BERHAD ("E&O" or "COMPANY")
AWARD OF LAND RECLAMATION CONTRACT TO CHINA COMMUNICATIONS CONSTRUCTION COMPANY (M) SDN BHD ("CCCC(M)") FOR SERI TANJUNG PINANG PHASE 2
We refer to the announcements dated 12 April 2011, 14 April 2014, 10 June 2014 and 8 December 2014 in relation to Seri Tanjung Pinang Phase 2.

The Board of Directors of E&O is pleased to further announce that Tanjung Pinang Development Sdn Bhd (“TPD”), a subsidiary of E&O, had on 28 October 2015 issued a letter of award (“LOA”) to CCCC(M), a wholly owned Malaysian subsidiary of China Communications Construction Company Limited, to undertake the land reclamation works for Seri Tanjung Pinang Phase 2.

The LOA serves primarily as an acceptance of the tender to reclaim Phase 2A of Seri Tanjung Pinang Phase 2, an area of approximately 384 acres (inclusive of the 131 acres Gurney Drive foreshore) (“Package 1”) for a contract sum of approximately RM1.035 billion. The prescribed period to complete reclamation works under Package 1 shall be approximately 30 months from the formal acceptance of the LOA by CCCC(M).

The LOA also includes the conditional award for the proposed land reclamation works for the remainder of Seri Tanjung Pinang Phase 2, made up of Phase 2B and Phase 2C covering an area of approximately 507 acres (“Package 2”). The contract sum for Package 2 is approximately RM1.285 billion subject to adjustments arising from fluctuations in exchange rate and the price of fuel, and changes in cost if applicable. The award of Package 2 shall be strictly conditional upon the approvals of the board of directors of TPD and E&O and of the relevant regulatory authority on the scheduling of works.

Following on from the previous announcements on approvals in hand, and now with the award, physical works in regards to Seri Tanjung Pinang Phase 2 will commence in the near future.

This announcement is dated 28 October 2015.

Thanks Wondermamama. Wow did you all see the 1.55 queue ?? The 1.55 ppl just queue and open their mouth for whoever want to sell and it got done. Ironic. They are big players gulping 300k shares. Something up??