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ECRL LAND ACQUISITION BENEFICIAL LIST - EDEN INC (LAND REVEALED!!!)
Since ECRL already confirmed to continue again, and Supplementary Agreement already signed, the focus should be on ECRL on the 2H 2019 on who will get the working construction contract.
But aside from all the construction contract, one thing to note is the acquisition of land along the pathway - Which party will be affected, and how much land will be taken.
What I can confirm here is that EDEN INC BERHAD will need to sell back some portion of the land to MRL to build the ECRL station and railway. This is particularly at the Kuantan Port City area.
To understand more of ECRL, basically, ECRL is cater for 30% passenger and 70% cargo. This is to shorten the time frame of freight travel by sea which will eat up 2 days and also extra cost in shipping (need to pass through straits of singapore also, and pay tax to singapore)
So by stopping at Kuantan Port, the cargo and be loaded to ECRL train, and transport directly to Port Klang to be picked up. In order to make this efficient, the ECRL station Kuantan Port City 2 is proposed to be integrated with Kuantan Port (means, will be close to Kuantan Port in term of distance)
Based on map, the best possible land will probably at this area pointed by the yellow arrow, because it will be closest to Kuantan Port, and easy access by straight road for trailers and cargo movers.
So how does this reflect towards EDEN ?
According to information, the plot of land on the left "L" shape is around 131 acre (5706360 sf). while the one beside is 101.5 acre (4421340 sf)
Based on the above, the potential area that will be taken from EDEN for the ECRL Kuantan Port City 2 that is designed for cargo handling will probably be around 230 acre of land use.
Under previous negotiation, the ECRL is divided to PHASE 1 and PHASE 2. But the new Supplementary Agreement will put the construction of ECRL into 1 phase only, which some changes in route and also station.
One of it is the addition of Kuantan Port City 2, which is designed for handling cargo from ship.
The Kuantan Port City 2 station will be situation near to Kuantan Port City (which is for passenger).
This will be consuming more land in order to cater for cargo loading and unloading operation.
Conclusion, now Eden is trading at steep discount despite good and certain news coming towards this company. The land that the company is sitting is definitely very strategic and will be taken for the construction of Kuantan Port City / Kuantan Port City 2.
If estimated land sale is 230 acre, at RM 15 per square feet, that will be seeing RM 150m of cash coming into EDEN balance sheet. This is not withstanding that EDEN still have another 220 acre of land that can be sold to industrial company that are willing to capture the opportunity to build a factory with full facility in logistic in the future.
EDEN is trading at low price of RM 0.15, backed with NTA RM 0.77 per share, and also good news from ECRL land acquisition.
** DO NOTE THAT THE ABOUT LAND PLOTTING IS BASED ON AUTHOR READING AND INTERPRETATION OF THE MAP. THERE IS NO GUARANTEE ON ANY ACCURACY OF THE LAND PLOT AND AREA, AND ALL IS BASED ON ESTIMATION ON INFORMATION PROVIDED. **
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张晋荣
Do you want the actual land location where eden own?
2020-01-21 07:25