The Board of Directors of Eden wishes to announce that the Company had on 28 February 2020, received the compensation of RM16,710,848.00 after accepting the Notice of Compensation Awarded (“Borang H”) on 7 January 2020 from the Government of Malaysia arising from the Compulsory Acquisition under Land Acquisition Act, 1960 for the acquisition of the Company’s 6.3892 hectare land known as Lot 8911, PN 21372, Mukim Sungai Karang, Daerah Kuantan, Negeri Pahang (“the Land”) for the purpose of East Coast Rail Link (“ECRL”) Project (“Compulsory Disposal”).
Please refer to the attachment for further details.
RM24 per sqft. Better than expected. More to come, the Company have hundreds acres of land which can aim for compulsory acquisition and also the further property development.
Based on the announcement, Eden will book RM10 million profit ! So expect next qtr results should be at least 10mil......with the power plants and Under world....steady steady go up
ECRL compensation initiated meaning the Kuantan Land of the Company already strike the jackpot by go thru the land. Kuantan Port is one of the major usage Port in East Coast Malaysia, cargo operations will be a positive point to EDEN coming prospect. RM0.25-0.28 is still a good collection point.
I am not surprise if some one take over the Counter and convert it into Property Developer when there possibly still have 300-400 acres of industrial land there.
Here are all brothers in the same boat mah, we quietly collect more. At least now from uncertain become certain.
PM - Muhyiddin confirmed and by May 2020, it wont affected. ECRL - Confirmed and start acquisition d. Eden Kuantan Land - from valuation RM8 to now RM24m. Phase 2 Acquistion - High possible, only how big the land to be proposed acquisition we dont know yet.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
John Rambo
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Posted by John Rambo > 2020-03-04 12:31 | Report Abuse
cheers!!!