KUALA LUMPUR (Feb 22): Eastern & Oriental Bhd (E&O) slipped into the red in the third financial quarter ended Dec 31, 2018 (3QFY19), posting a net loss of RM8.8 million compared with a net profit of RM21.98 million a year ago.
The lifestyle property developer attributed the loss to a RM11.6 million unrealised foreign exchange (forex) loss, as well as an estimated one-off RM44.6 million holding cost payable for the option to purchase land which was not exercised.
In a statement today, E&O managing director Kok Tuck Cheong said stripping out the holding cost and forex loss, its pre-tax profit for 3QFY19 would have been RM91.6 million, 10.39% higher than RM82.9 million in 3QFY18.
If drop enuf, maybe trigger margin calls for leveraged shareholders...poor Terry Tham...classic case of 'have $ doesn't mean is financially shrewd' lol
http://chinapress.com.my/?p=1522890 Core biz is increase actually..N the project apparently will be one of the Penang major blue plan..long run good to enter at this point just my point of view:)
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qqq3
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Posted by qqq3 > 2019-02-20 23:12 | Report Abuse
hahahaha...at least I am already above water....