Posted by sell > 2015-09-25 04:00 | Report Abuse

stp2 will require many years to reclaim. So E&O no sale from Penang next few years?

Posted by sell > 2015-09-25 04:01 | Report Abuse

No wonder some shareholders selling.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4875341

Posted by HakChai > 2015-09-25 09:10 | Report Abuse

This Sell fella every time come out kena taroh then go quiet for awhile then come back. Try to challenge point for point. Read carefully when it was disposed and for who first. Then read how the reclaim will be done.

Posted by EnO_TurboBlast > 2015-09-25 12:56 | Report Abuse

We hv seen what happen to GOB on Wednesday and today after sales plan for Pavreit. We hv seen what happen to EcoWorld using Focal as vehicle to list in Bursa. Now E&O will be many times that. They will reduce their debt ratio instantaneously with the approval on 29 Sept on the UK properties admission UK Stock market and to bringing it down to 0.3 fr 0.6 while announcing their reclaim partner. This is a double bonus for investors as we hv seen the appreciation of UK properties and reduce reclamation cost due to lower OnG and construction cost. So in short we hv a appreciation of UK properties while cutting debt ratio by listing it local in London and at the same time reducing the debt ratio and focus on STP2 reclaim partnership in STP Stage 2A. I don't see why E&O won't sky rocket if the concern is just on general property development and construction when we hv seen Gkent moving and GOB moving.

Posted by EnO_TurboBlast > 2015-09-25 12:57 | Report Abuse

Lets Huat together.

Posted by HakChai > 2015-09-25 13:31 | Report Abuse

if Tuesday makes special announcement, how wonderful. Proposed admission of UK Properties is already a confirm thingy just formality and the share buy back will also be another reason to be more optimistic

Posted by HakChai > 2015-09-25 13:32 | Report Abuse

i prefer STP2 announcement leh

Posted by enid888 > 2015-09-25 22:42 | Report Abuse

E&O will bring in a strategic partner. Could this foreign partner be Fudosan? Is the strategic partner going to commit on some specific land lots at specific prices? Quite anxious to know how it is going to pan out. If there is a confirmed price, this will become a benchmark.

Posted by enid888 > 2015-09-25 22:50 | Report Abuse

EnO_TurboBlast, agree with you that debt will be cut down with the listing of E&O UK. Hopefully, the valuation is much higher than the cost that E&O paid for the properties in the last 2 years. Then, it will be booked as profits.

Posted by EnO_TurboBlast > 2015-09-26 11:06 | Report Abuse

Enid888, the tender award was delayed because many changes has occurred since end of 2014. For one, the OnG cost has drop and secondly construction too has drop. However we do not really know whether the land selling price psd has dropped? Reason being, there is still very high demand recently for Tamarind 2nd phase. To be exact 3000 ppl expressing their interest.
Rethink, if everything is bad, why is Pavreit buying GOB property ie USJ for 488Mill ie half a billion. One of the reason is Subang and its MRT landing. Similarly Gkent being the MRT contractor will not change and the fact that phase 2 will create more value

Posted by Parkson > 2015-09-28 03:58 | Report Abuse

As seen last QR E&O sales is lowest for 5 years. Wonder how sales will pick up when STP2 is yet to announce.
http://klse.i3investor.com/servlets/stk/fin/3417.jsp

Posted by sell > 2015-09-28 04:02 | Report Abuse

Safer buy for E&O is RM 1 or below if follow sales figure. Moreover i3 5 year price chart show E&O is nowhere near bottom.
http://klse.i3investor.com/servlets/stk/chart/3417.jsp

Posted by sell > 2015-09-28 04:04 | Report Abuse

Dividend also drop meaning all is not well.
http://klse.i3investor.com/servlets/stk/annent/3417.jsp

Posted by HakChai > 2015-09-28 14:08 | Report Abuse

Hmm dividend drop mean not well? Very high level investor

Posted by Jackel > 2015-09-28 15:29 | Report Abuse

Those no dividend die lor

Posted by EnO_TurboBlast > 2015-09-28 15:42 | Report Abuse

At the current exchange rate w London, one can treat the earlier funds as Hedged! Secondly, the entity of London will be standalone PLC with only 30% back to E&O holdings

Posted by EnO_TurboBlast > 2015-09-28 15:54 | Report Abuse

Price will formally reflect upon admission of London property to AIMS. This is similar to Focal for EcoWorld. In E&O case, debt ratio reduced mean risk reduced significantly, while 30% contribution fr UK means earlier property purchase appreciation sink in and STP2 will solidify the moving forward.
Idea of STP2 with partner will encourage growth and increase profit as overall 51% still owned by E&O while cost due to OnG decline together with construction cost will propel earnings

Posted by HakChai > 2015-09-29 14:43 | Report Abuse

Renewal of Share Buys Back at AGM today. Last bought was at 1.73. Lets see what happens after approval.

Posted by Gregorian > 2015-09-29 21:00 | Report Abuse

All proposal duly passed. Terry Tham explained the delay of STP2 due to cost review as construction material and petroleum price drop. All approval including start work approval given. Now only tender award and it is expected 4-6 weeks by Terry Tham. In addition they will review buying back odd lots as dividen no cash payout

Posted by Gregorian > 2015-09-29 21:07 | Report Abuse

Also the reclamation cost include the land concessionaire to state government is only RM150psf approx. according to Terry Once reclaimed , likely resell price is RM400-500 psf. Similarly one of their London property was flip for a 45% clean gain.

Posted by Gregorian > 2015-09-29 21:40 | Report Abuse

http://www.theedgemarkets.com/my/article/eo-keeps-rm173m-fy16-earnings-target-eyes-foreign-buyers

Posted by RVI123 > 2015-09-29 21:51 | Report Abuse

Gregorian, do u mean one of the 3 properties E&O had in London had been sold (flipped) with 45% percent profit? Did he mention which property was that?

Posted by Gregorian > 2015-09-29 22:04 | Report Abuse

Elmina West

http://www.sharesinv.com/articles/2015/09/29/eastern-oriental-to-develop-rm1-5-billion-project-in-elmina-west/

Posted by Gregorian > 2015-09-29 22:05 | Report Abuse

RV1123 one of the 4 properties

Posted by Gregorian > 2015-09-29 22:06 | Report Abuse

I am posting all the links as I promised....


Gregorian Month of Aug/Sep maybe a month of revelation for EnO.
19/08/2015 11:07

Posted by Gregorian > 2015-09-29 22:09 | Report Abuse

London listing

http://m.thestar.com.my/story.aspx?hl=EO+to+list+unit+in+London+by+Q1+2016&sec=business&id=%7BB396769F-9343-4DFA-96DC-698E83C5EC2B%7D

Posted by chasz > 2015-09-30 12:20 | Report Abuse

so there will no month of revelation for this Sep also..correct gregorian?

Posted by Rockford > 2015-09-30 14:21 | Report Abuse

i see it too. I think as a whole E&O is careful w money but investors are getting very agitated waiting. We saw that at the AGM come EGM where even the Chairman and Deputy MD and MD were challenged

Posted by Rockford > 2015-09-30 14:23 | Report Abuse

on top of that they made it difficult for the investors on the dividend which cause them to be even more furious. Hope Terry and Eric will do something to contain the fluctuation of the stock

Posted by Airo Chasz > 2015-09-30 16:02 | Report Abuse

yeh,controlled stock but its good.just have to be super patience

Posted by RVI123 > 2015-10-01 00:34 | Report Abuse

Thanks to Gregorian for the update.

Posted by EnO_TurboBlast > 2015-10-01 14:23 | Report Abuse

Note EnO has only missed the target once out of the 10 years running.

Public Bank: E&O (Trading Buy, TP: RM2.60): On track to hit target. Eastern & Oriental (E&O) is optimistic of achieving its net profit target of RM173m for its current financial year ending March 31, 2016, based on the number of ongoing projects the company has in its pipeline. The company had set a cumulative net profit target of achieving RM450m from 2014 to 2016, with the RM173m being the “balance of target” to be achieved for this year, said deputy MD Eric Chan. (StarBiz)

Posted by Gregorian > 2015-10-07 07:42 | Report Abuse

There will be another revelation either late Oct or November. E&O has amongst the most foreign channels for marketing in Singapore, Japan, UK and Taiwan. That's why they are confident of 173M. The difference between E&O and other high end, is lifestyle.

Posted by Gregorian > 2015-10-07 09:40 | Report Abuse

Debt ratio at current is 0.6 looking reduction 0.38. Ratio of that on inverse (0.6/.38 =1.58) on inverse base on current price at rm1.59 * 1.58 = RM2.51 very close to Public Banks RM2.60 trading buy. The calculation does not take into account STP2 psf value however base on RM150 psf as cost with expected RM400-500 psf value undeveloped sale the price will be higher. The number RM2.51 takes into account only the London PLC

Posted by HakChai > 2015-10-07 15:35 | Report Abuse

Yes but I still think after the EGM that Terry Tham needs to be more forthcoming.

Posted by Rockford > 2015-10-09 15:03 | Report Abuse

STP2 will be divided into 2 portion i.e. a west and east side. And within that there is a Phase 2A (253acres) Phase2B (248Acres) and Phase 2C (259acres) which (2A) is the one that analyst believe will hv a marriage partner to co-developed. The partner and state govt will take 49% vs 51% owned by E&O. This can essentially be thought of as a 49% land sale or a valuation exercise or a risk management. Whichever it is, it will be a revenue top up either way. On Gregorians take at 2.51 without STP2, another short assumption is base on 2A 253acres (1.102e+7) will have approx (500-150 = RM350psf) this equate to RM3,857,000,000 . So basically even with cost against sale value they stand to make RM3.9B. Correct me if i am wrong

Gregorian Debt ratio at current is 0.6 looking reduction 0.38. Ratio of that on inverse (0.6/.38 =1.58) on inverse base on current price at rm1.59 * 1.58 = RM2.51 very close to Public Banks RM2.60 trading buy. The calculation does not take into account STP2 psf value however base on RM150 psf as cost with expected RM400-500 psf value undeveloped sale the price will be higher. The number RM2.51 takes into account only the London PLC

Posted by Rockford > 2015-10-09 15:09 | Report Abuse

So if they sell all of Ph 2A, the amount generated is 3.9b translated in price per share (total share issued is 1.26B shares) direct calculation per share additional is 3.9/1.26 = 3.09 treated as asset. So in short technically, price with STP2 Phase A alone should be RM5 above if treated as NAV

Posted by HakChai > 2015-10-09 15:19 | Report Abuse

Rockford, 110acres is to be surrendered to state Govt. I am narrowing down based on you assumption if kept as asset they will hold 760-110 =660acres. what you hv calculated is only Phase 2A if included all minus state govt shud stand at 2.6 times of RM3.09 additional value per share above RM 2.51. In this case 2.6*3.09=RM8 so it shud be RM10. Previously they calculated value at RM9.43/share (i believe it was CIMB) If I take steep discount at 40% of total asset it shud stand at RM6

Posted by HakChai > 2015-10-09 15:25 | Report Abuse

Correction it was AMResearch which gave the NAV @ RM9.47/share and not CIMB at RM9.43/share. Pls refer

http://www.thestar.com.my/Business/Investing/2015/01/09/AmResearch-maintains-Buy-on-eno/?style=biz

Posted by Rockford > 2015-10-09 15:33 | Report Abuse

OK if you take 110 acres back to Govt that should be correct. I also calculate if selling is base on lower RM400psf against cost of RM150 i.e. RM250psf profit. It will come up to RM7,187,500,000. So per share 7.2/1.26=RM5.71 per share additional added to RM2.51 base approx RM8.22 per share. Hence if we take 40% discount as in your example it will be at least RM4.93 close to Amreasrch RM4.73 earlier this year

Posted by HakChai > 2015-10-09 15:37 | Report Abuse

even if RM4.93 vs current 1.60 it is a steep 3 times.

Posted by Sunkist118 > 2015-10-09 15:42 | Report Abuse

Wah wah wah....ani sui...RM4.93.

Posted by HakChai > 2015-10-10 07:59 | Report Abuse

A more recent calculation by HwangAffin, but it does not partake the London PLC and STP2 separately . On STP2 however, it opines upto 800psf but the rm400-500psf is shared from Terry during Egm. Refer to figure 2. The calculation above is more conservative base on 400 to 500.

http://www.bursamarketplace.com/index.php?ch=24&pg=88&ac=19161&bb=research_article_pdf

Posted by Sunkist118 > 2015-10-10 09:58 | Report Abuse

Wah wah wah.....like that hor sell land also Sui Sui liao

Posted by EnO_TurboBlast > 2015-10-10 16:00 | Report Abuse

Thank you for all the positive comment. More importantly E&O has obtained ALL the approval whether state govt or federal govt and also start work approval. The only thing left is the tender award which is within their own control. For those in doubt abt property prices, Imbi land just sold at another record price of 4300psf. The reason I am told is that the prices are bought at strategic places in anticipation of a inevitable boom in next 2-3 years. This boom being the cycle happening after the inflation. Also soon the HSR project will be going ahead and much the same as the inflated prices at key landings. For those who are following the prices would know key landing of MRT like Kota Damansara area (near education hub, Golf course, Hospital, schools, international schools, shopping malls, condominiums, housing, ....has gone up further 20%

Posted by Sunkist118 > 2015-10-11 22:24 | Report Abuse

Wah Wah Wah...

Posted by vincent555 > 2015-10-12 12:50 | Report Abuse

Still can buy

Posted by HakChai > 2015-10-12 12:51 | Report Abuse

As I hv said, Terry knows the value as shared during EGM but not forthcoming in sharing.

X
HakChai Yes but I still think after the EGM that Terry Tham needs to be more forthcoming.
07/10/2015 15:35

Posted by HakChai > 2015-10-12 13:05 | Report Abuse

Thanks Gregorian, looks like ur shareholder information added up nicely.

http://klse.i3investor.com/servlets/stk/annchnsh/3417.jsp

Posted by RajuanSingh > 2015-10-12 13:49 | Report Abuse

Dear Ladies and Gentlemen, thank you for all the recent flair and update. I am new here in i3 but have been trading in stock market for 7 years. After reading all your comments I gather as follow
1. Their current running projects include Penang Tamarind 2 STP1, KL projects as well as a partnership with Khazanah and Temasek in Iskandar.
2. Moving forward 1 - City of Ellmina land they bought fr Sime to be develop as part of Guthrie Corridor area
3. Moving forward 2 -STP2 awaiting tender award however all approval and start work cleared to move.forward.
4. Only 1 year missing target in last 10 years running
5. They are keeping the revenue and PAT target for this year
6. Expected TP with London PLC reducing the debt ratio is RM2.51
Expected TP with STP2 RNAV is RM5.71 to RM8
Therefore if added together TP range is RM8.22 to RM10 (depending on land sale price between RM400-500psf)
40% discount = range TP is RM4.93 -RM6 with break even at RM150
7. Marketing channel include Malaysia, Singapore, Japan, UK, Taiwan
8. Latest Tamarind2 got 3000 registered interest with almost all Tamarind1 taken up

Base on all of the above which was shared and some from my own analysis I just want to know if the chances of E&O hitting RM2.60 as predicted by Public Bank as trading buy call on 30/9/15 which means by December