
LAST CALL FOR E&O [3417] T.P 1.70.......LAST TRADED UP 7 CENTS.

LAST VOLUME 1,828,000 LOTS

Eastern & Oriental Berhad is a Malaysia-based investment holding Company engaged in the provision of management services to its subsidiaries. The Company has interests in three business activities: hospitality and lifestyle, property development, and property investment. The Company operates in three major business segments: properties, which is engaged in the development and investment in residential and commercial properties; hospitality, which is engaged in the management and operations of hotels and restaurants, and investments and others. The Company's subsidiaries include E&O Property Development Berhad, Dynamic Degree Sdn. Bhd., E&O Developers Sdn. Bhd., E&O Ventures Sdn. Bhd., Eastern & Oriental Hotel Sdn. Bhd. and E&O Leisure Sdn. Bhd. On March 25, 2009, the Company completed the disposal of its entire interest in Puncak Madu Sdn Bhd to Damansara Developments Sdn Bhd, owned through the Company's subsidiaries, Galaxy Prestige Sdn Bhd and Major Liberty Sdn Bhd.

Bursa Malaysia: HDBSVR maintains Buy on E&O, up TP to RM1.70
Price Target date: 12/01/2011 | Source: HWANGDBS
KUALA LUMPUR: Hwang DBS Vickers Research has raised the Target Price for Eastern & Oriental Bhd (E&O)'' to RM1.70 (from RM1.40) based on 20% discount to RNAV of RM2.14.
It said on Wednesday, Jan 12 E&O's net gearing has improved significantly to 32% (2QFY10: 79%) post-rights issue, while unbilled sales stands at a record RM605 million (2.1x FY10 property development revenue).
'Given its prime landbank, strong execution track record, and attractive valuation, we see E&O as a potential M&A/JV candidate,' it said.

$12BILLION PORJECT [POSSIBLE MERGER OR JV] IN THE PIPELINE.
STP Phase 2 kicking off soon? The long-awaited 740-
acre STP Phase 2 masterplan has just been submitted for
approval (expected by mid-11). E&O will likely seek for a
JV partner given the scale of the development (GDV
RM12b) and upfront reclamation costs. Assuming a 50/50
JV, RM120psf reclamation cost and RM250psf land value,
E&O’s RNAV could increase by 38% to RM2.97 (yet to
include potential development profits).

CHEERS TO ALL...HAPPY INVESTING & GOOD LUCK.
[attachmentid=2030283]
your E&O flying....