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KLSE: E&O       EASTERN & ORIENTAL BHD
Last Price Avg Target Price   Upside/Downside Price Call
0.885 1.72     +0.835 (94.35%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
12/02/2019 1.08 1.00 -0.08 (7.41%) HOLD PUBLIC BANK Price Target News
12/02/2019 1.08 1.22 +0.14 (12.96%) HOLD MIDF Price Target News
12/02/2019 1.08 1.55 +0.47 (43.52%) BUY Affin Hwang Capital Price Target News
12/11/2018 1.12 1.30 +0.18 (16.07%) HOLD PUBLIC BANK Price Target News
12/11/2018 1.12 1.65 +0.53 (47.32%) BUY MIDF Price Target News
12/11/2018 1.12 2.01 +0.89 (79.46%) BUY AmInvest Price Target News
12/11/2018 1.12 1.55 +0.43 (38.39%) BUY Affin Hwang Capital Price Target News
27/08/2018 1.54 2.38 +0.84 (54.55%) BUY Affin Hwang Capital Price Target News
21/08/2018 1.51 2.00 +0.49 (32.45%) BUY PUBLIC BANK Price Target News
21/08/2018 1.51 2.37 +0.86 (56.95%) BUY MIDF Price Target News
21/08/2018 1.51 2.01 +0.50 (33.11%) BUY AmInvest Price Target News
21/08/2018 1.51 2.38 +0.87 (57.62%) BUY Affin Hwang Capital Price Target News
17/08/2018 1.54 2.01 +0.47 (30.52%) BUY AmInvest Price Target News


Price Target Research Article/News (past 6 months)
12/02/2019  PUBLIC BANK Eastern & Oriental Berhad - Equity Fund Raising Up to RM550m
12/02/2019  MIDF Eastern & Oriental Berhad - Proposes Private Placement and Rights Issue
12/02/2019  Affin Hwang Capital Eastern & Oriental - Fund Raising
12/11/2018  PUBLIC BANK Eastern & Oriental Berhad - Lacking Re-rating Catalyst
12/11/2018  MIDF Eastern & Oriental Berhad - Earnings Below Expectations
12/11/2018  AmInvest Eastern&Oriental - 1HFY19 core profit up 9.5% YoY; expects stronger 2H
12/11/2018  Affin Hwang Capital Eastern & Oriental - Below Expectations
27/08/2018  Affin Hwang Capital Eastern & Oriental - Forex Impact
21/08/2018  PUBLIC BANK Eastern & Oriental Berhad - Within Expectations
21/08/2018  MIDF Eastern & Oriental - Higher Earnings Driven by STP2A Land Sales
21/08/2018  AmInvest Eastern & Oriental - 1QFY19 core profit up 29% YoY; STP2 on track
21/08/2018  Affin Hwang Capital Eastern & Oriental - Forex Impact
17/08/2018  AmInvest Eastern & Oriental - Pearl of the Orient



  16 people like this.
 
346 david yesterday overdone. today will recover to 0.95.
13/02/2019 07:26
dompeilee hng33 will soon come out & claim he sold all & free up capital @ 89 lol
13/02/2019 09:10
hng33 sold off all at 89sen
13/02/2019 09:11
hng33 bought back all at 87.5sen again
13/02/2019 09:12
dompeilee See? LOLLLL!!!
13/02/2019 09:12
Mytrd hahaha, but too fast bought back at 0.875
13/02/2019 09:13
Mytrd should wait for drop more
13/02/2019 09:14
sportstoto gogogo
13/02/2019 09:16
tnang so many expect, make I takut.
13/02/2019 09:20
enid888 Investors come to their conscious after overnight thinking.
13/02/2019 09:21
dompeilee I also bought big @ 87.5c just now...after just 5 mins, sold half back @ 88.5c for handsome contra gain...free up capital lol
13/02/2019 09:21
dompeilee Up 2 you whether 2 believe =)
13/02/2019 09:22
RainT STP2 is for rich ppl

no matter bad or good property market, will still have rich ppl buy

they buy & willing to pay premium is because of the value the get from the STP2

SO i dont think with high price of the project cannot sell , the demand still there (rich ppl)

that day at gurney plaza they have the property road show, i see this STP2 project have many ppl ask (especially foreigner & old rich people)
13/02/2019 09:23
hng33 sold back all again at 89sen
13/02/2019 09:24
RainT if wait until 2H2019 or when STP2 launch, that time you cannot get this price already RM0.85

this is 10 year low price
13/02/2019 09:24
dompeilee Rich ppl also won't buy blindly...if they think property market will slump for many years, they will hold back to get cheaper price much later.
13/02/2019 09:25
RainT just wonder why, management no start to share buy back after announce this news as they can share buy back cheaper

as they share buy back at higher price,so maybe they are really confident with company
13/02/2019 09:25
dompeilee Correction...10 yr low price is 39.5c(not yet adjusted for share issues) back in 2009.
13/02/2019 09:29
enid888 STP2 is just offshore and opposite Gurney Drive. The most expensive and popular residential and shopping areas in Penang. The millionaire row of Penang. The most popular tourist spot in Penang.
13/02/2019 09:31
dompeilee Wow 90c...Maybe rights issue plan cancelled lol
13/02/2019 09:33
Eggtart_king There was buy back yesterday also!
13/02/2019 09:37
enid888 It is better to sell off the UK properties to get cash than having RI.
13/02/2019 09:39
enid888 Best opportunity for Terry Tham, Tee Eng Ho and GK Goh to increase their shareholdings.
13/02/2019 09:41
dompeilee So let them announce via Bursa whether they put their $ where their mouth is...
13/02/2019 09:43
dompeilee Note that his biggest block holding via Paramount Spring is pledged to banks.
13/02/2019 09:51
pidan2014 Cash rich individual especially Corporation without project on hand may be interested investing but not me.
13/02/2019 11:41
commonsense Someone asked me about E&O. Just sharing for the benefit of others. Feel free to correct any mistakes found.

Regards.

Hi qqq3,

I actually made a comment on E&O back in January. But it was mostly on its valuation. Back then it was trading at around RM1.07 or a market cap of more than RM1.4bil which i thought was a bit on the high side given it's earnings outlook for FY20 (projected profit of around RM70mil). At that price it would have translated to a fwd PE of 20.7x which is a lot higher than the average property industry PE.

Just like most other property companies, E&O is currently trading at a discount to its book value. That being said, if you still like to have exposure to the property industry, i think you can find better value companies at the moment. As an example, there is a property developer in Klang Valley that is also trading at below 0.5x PB just like E&O. However, the company balance sheet is a lot stronger, with cash that represent 25% of the company's market cap and with zero debt. Some of the lands in the company's book has not been revalued for more than 20 years with market value estimate to be more than 10x what it recorded in the books. There are even some property companies that currently trading at below 5x PE and below 0.5x PB albeit at a market cap that is a lot lower compared to E&O. Most of the value property companies are in the mid and small cap.

I was a bit surprise with the company announcement of the right issue exercise as i thought any future funding can be done via the sales of assets/ reclaim lands. Anyway, if you decide to buy into E&O today, i would advice you to subscribe to the right issue to prevent any future dilution and also be able to benefit from the issuance of the free warrants. Given the minimum target amount to be raised from the exercises is RM250mil and the and assuming the private placement can raised 10% of the current market cap (translating to around RM130mil), the right issue will need to raise around RM120mil. This means you will need to be prepared for an additional cash investment of at least RM0.09 per share (based on the 4 ordinary shares to 1 rights, the price of the rights would be RM0.37 per rights). Basically if you buy the stock at RM0.85 today, you will need to prepare another 9 sens for your future right issue subscription. Which means your total investment into E&O is actually RM0.94. Again this is based on the minimum case scenario. The maximum case is for the company to raised up to RM550 mil, again assuming the private placement raises RM130mil, this would mean the right issue needs to raise around RM420mil. This translate to an additional RM0.32 per share (or right issue at a price of RM1.28 based on 4 ordinary shares to 1 right issue ratio). This would mean your total investment of E&O is actually RM 1.17 per share.

However to entice investors to subscribe to the right issue, most of the time the company need to price the right issue at a discount to the price of the ordinary share ( if not people might not want to subscribe). Assuming the price of the shares ends up at around RM0.90 before the price fixing date, and assuming a discount of around 10%, i would assume the most optimum case is for the company to fixed the right issue price at around RM0.80 (the company would end up raising around RM400mil of cash from both the PP and RI exercises). This would mean you need to prepare an additional RM0.20 per share of your original investment of RM0.85 bring your total investment in E&O to RM1.05.

In conclusion, you need to make sure to prepare at least 20 sens extra per share for you to subscribe to the right issue.

Sorry for the long post. Hope you understand it.

Good luck.
13/02/2019 11:59
qqq3 Posted by qqq3 > Feb 13, 2019 12:07 PM | Report Abuse X

sense...


RI 1 for 4 is ok....not like Sapura 4 for 1.....

If it does not work out, I will go the distance, maybe average down a few days later.....if it works out , I may sell....RI with warrants....makes good sense to me....

I do not want exposures to properties per se......other property shares with better BV/ price no interest.....reputation is more valuable than BV. Some investments in E&O ok one......


anyway....I am looking for more details......thanks.....
13/02/2019 12:11
qqq3 remember the history of IJM and how it became a $ 10 billion company? well......this could be the next IJM?


can or not?
13/02/2019 12:14
commonsense_ No more promoting MBM meaning already sold?
13/02/2019 12:18
qqq3 icon dont sell so fast one....

mbm is attractive but not a contrarian stock.....same like Serba....

actually between MBM and Serba.....which is prefered?

both are known as promoted stocks......both are known as hot favorites.....not contrarian stocks.......
13/02/2019 12:24
qqq3 maybe I too should choose one....Serba or MBM?
13/02/2019 12:25
TheContrarian Bought E&O first time in my life at 0.89 today.
13/02/2019 16:12
qqq3 y TheContrarian > Feb 13, 2019 04:12 PM | Report Abuse

Bought E&O first time in my life at 0.89 today.
==========

good, if it does not work....go the full distance.....
13/02/2019 16:13
TheContrarian I always enjoy the food at the prestigious E&O Hotel in Penang, thought it's time to own some E&O shares.
13/02/2019 16:24
apolloang enjoy cheap buffet ar? haha
13/02/2019 16:26
TheContrarian Buffet there where got cheap?
13/02/2019 16:27
TheContrarian You didn't buy Toyoink before release of QR this month? You already know it will be good.
13/02/2019 16:29
apolloang cheap lah buy 2 free 1 for old folks like u isn't it? hehe
13/02/2019 16:30
apolloang later announce rights issue drop like mflour then u know.....hehe
13/02/2019 16:32
Shinnzaii still need a long time to know right issue can work or not...if cant work become wrong issue already...hehe
13/02/2019 16:40
dompeilee In this mkt environment, all investors, whether small punters/ big funds want to buy shares WHICH WILL PAY THEM rather than make them pay MORE than their investment in future! So good dividend payers with reasonable valuations will be supported. Anything else will be under selling pressure & worst of all are those with pending rights issues! Witness MFlour plunging from 1.20 to 0.465 or SymLife plunging from 80c to 32.5c & you'll agree.
13/02/2019 17:21
qqq3 MFlour plunging from 1.20 to 0.465 or SymLife plunging from 80c to 32.5c & you'll agree.
=================

Mflour and Sym got no followers......

they got hotel bufett or not?
13/02/2019 17:42
newbie4444 QR not out on Feb 13th? Delay bec bad?
14/02/2019 01:54
James Ng https://klse.i3investor.com/blogs/general/193326.jsp
[转贴] [Facebook live:浅谈Eastern & Oriental bhd (E&O)] - James的股票投资James Share Investing
14/02/2019 09:45
dompeilee No share buybacks at this huge discount even though silly co. bought 20+ million shares at higher than 1.02...Major holders also not increasing stakes. 2day T + 2 for 37 mil shares & T + 1 for 43 mil shares.
14/02/2019 10:13
5354_ No wonder need RI. Buta gaji CFO. No money ask from shareholders easiest way out.

dompeilee No share buybacks at this huge discount even though silly co. bought 20+ million shares at higher than 1.02...Major holders also not increasing stakes. 2day T + 2 for 37 mil shares & T + 1 for 43 mil shares.
14/02/2019 10:13
14/02/2019 11:31
RedEmperor @dompeilee @5354_ speak too soon!!
https://klse.i3investor.com/insider/company/shareBuyback/3417/14-Feb-2019/63473_1466741341.jsp
15/02/2019 07:23
dompeilee 1m shares kacang putih...out of 1307m shares outstanding.
15/02/2019 16:02
Oh Ling Hee I feel this coming quarter will come together with bonus share to shareholders as so consistent buy up treasury share which same case with ytl last year..
16/02/2019 08:46

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