Posted by Parkson > Jun 24, 2016 02:23 PM | Report Abuse X Brexit confirmed and E&O has London property so how?
ParksonE&O shares buy back 898 shares a day using RM 1509.06. Why buy so little? No money? Compare with Parkson 375,000 shares buy back despite only 82.5 sen. http://www.bursamalaysia.com/market/listed-companies/company-announcements/5132377 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5132653
ParksonAffin Hwang Capital points out that market uncertainties due to Brexit concerns have delayed E&O’s plan to list its UK operation on the AIM market as potential investors are cautious on new initial public offerings.
“The translation of its £54.5mil loan to its UK subsidiary into ringgit could lead to unrealised foreign exchange (forex) loss of about RM47mil in the fourth quarter of 2016, based on our estimate.” http://www.thestar.com.my/business/business-news/2016/06/25/property-players-unfazed-by-referendum-result/