Posted by Equityengineer > 2014-06-03 09:32 | Report Abuse

Today will be a new high close ...

Posted by lynnc > 2014-06-03 10:22 | Report Abuse

RHB research recommended buy TP 3.52

Posted by Joel > 2014-06-03 10:42 | Report Abuse

Eco Macalister land price a new benchmark.

The transaction of Eco
Macalister land by Eco World (ECW MK, NR) is a good benchmark for
land valuations on Penang Island.

The 1.1-acre land in Georgetown will
be injected into Eco World at MYR1,002 psf.

Therefore, raise our
land value assumption for STP2 to MYR400 psf from MYR360 psf. Our
new assumption is still conservative – at a 60% discount to the latest
transacted price.

Posted by Joel > 2014-06-03 10:42 | Report Abuse

Imminent state endorsement for STP2.

The acquisition of a 9.9%
stake could also have an important implication for the STP2 project, as
the Penang State Government may now draw greater comfort given the
higher shareholding held by the MD.

The endorsement by the state
government could be accelerated, considering also that the two byelections
in Bukit Gelugor and Teluk Intan have just concluded recently

Posted by Joel > 2014-06-03 10:43 | Report Abuse

The 9.9% stake, acquired at a 22% premium
to the closing price on 28 May by Dato’ Terry Tham, should indicate his
greater commitment to the company over the longer term.

More
importantly, this signals the minimum price that he is willing to pay for the
company (as buying 110m shares from the open market, although at a
lower price, will require the declaration of shareholding interest), and
MYR2.90 plus a premium will be the price that he and other
shareholders would accept if there is a future takeover offer.

Posted by Joel > 2014-06-03 10:46 | Report Abuse

Management buy-in a strong showing of commitment


After meeting up with Mr Eric Chan, E&O’s deputy MD, we now view the 9.9% stake acquisition by Dato’ Terry Tham from Sime Darby in a positive light.

The reason why the market has been fuelled by speculation and scepticism over the transaction is because Sime Darby previously acquired a collective stake of almost 30% in E&O at MYR2.30/share from Dato’ Terry Tham, GK Goh and Tan Sri Wan Azmi Wan Hamzah in Aug. 2011.

With this latest transaction, Dato’ Terry Tham’s shareholding in the company will increase to 15.07%, similar to the level before he sold his partial stake to the conglomerate three years ago. Sime Darby remains the top largest shareholder with almost a 22% stake in E&O.

Posted by Joel > 2014-06-03 10:48 | Report Abuse

Endorsement for STP2 may come soon
In our view, given Dato’ Terry Tham’s higher shareholding in the company, the Penang State Government would now draw greater reassurance given the full commitment of E&O’s management team. As such, the State Government’s endorsement for STP2’s masterplan could be accelerated, since the two by-elections in Bukit Gelugor, Penang, and Teluk Intan, Perak, have just concluded recently.

Posted by Joel > 2014-06-03 10:49 | Report Abuse

E&O received the conditional approval letter from the Department of Environment (DOE) on 11 April for the detailed environment impact assessment (DEIA) study and conceptual masterplan relating to the proposed reclamation of STP2.

Currently, the company is awaiting an endorsement of the masterplan from the Penang State Government.

Upon obtaining the commencement of work notice, it should be able to kick-start reclamation works. According to the plan, the final green light is expected to be granted by June/July. We view this as the next share price catalyst.

Posted by Joel > 2014-06-03 10:50 | Report Abuse

Eco Macalister land valuation sets new pricing benchmark


We raise our land value assumption for STP2 to MYR400 psf from MYR360 psf.

In
end-2013, Eco World Holdings SB acquired 1.1 acres of land in Penang’s
Georgetown (at the corner of Jalan Macalister and Jalan Anson) at MYR1,252 psf.

The land is now in the process of being injected into Eco World Development (ECW
MK, NR) at MYR1,002 psf based on the appointed valuer’s appraisal.

We understand
that Eco World intends to set up its own sales office and subsequently develop a
high-rise project on the site, named Eco Macalister. These two prices, despite a 20%
discrepancy that is largely attributed to the valuations given for the heritage building
erected on the land, are high enough to set a new benchmark in Penang island, and
should lift land prices in the northern Penang island area.

Therefore, given the prime
seafront location of STP2, our revised land price assumption of MYR400 psf is
reasonable and still conservative – at a 60% discount – to take into account the
typical premium ascribed to smaller land parcels. Further upside is possible in a
longer run, as the reclamation works progress along.

Posted by Joel > 2014-06-03 10:51 | Report Abuse

Valuation
Based on an unchanged 25% discount to RNAV, we raise our FV to MYR3.52 (from
MYR3.12), as our RNAV/share is lifted to MYR4.70, after we revise up our land value
assumption for STP2. To summarise, the greater alignment of management’s interest
resulting from the 9.9% stake acquisition by Dato’ Terry Tham, the imminent
endorsement of STP2’s masterplan by the Penang state government, and rising land
values in Penang island are the key re-rating catalysts for E&O. Maintain BUY.

Posted by Equityengineer > 2014-06-03 11:36 | Report Abuse

Active trading today , everyone getting a piece of e&o

Posted by Equityengineer > 2014-06-03 11:39 | Report Abuse

Breaking many high today ... Expect support at 2,67 as for now .... Resistance at 2.69

Posted by ymtan > 2014-06-03 11:57 | Report Abuse

fuyoh... lai liao ...

Posted by samsung555 > 2014-06-03 12:04 | Report Abuse

E&O can be more optimistic this round.......

Posted by iafx > 2014-06-03 12:10 | Report Abuse

is it master plan early approval?

Posted by tpchuayap > 2014-06-03 12:22 | Report Abuse

flyyyyyyyyyyyyy

Posted by Joel > 2014-06-03 12:27 | Report Abuse

Akhirnya E&O terbang juga.
Bersyukurnya kami yang berada di dalam kapal yang sama.
I felt shocked when I open to view the current price juz now.

Hold tight, bro sis !!!!

Posted by junsjtan > 2014-06-03 12:33 | Report Abuse

wow.. someone ignite the ROCKET..

Posted by Equityengineer > 2014-06-03 12:43 | Report Abuse

2,80 above will the new support if can close like 2.85 today then tomorrow we shall a rise again for the first TP 2.90 ...important is evening show .any news ?

Posted by Joel > 2014-06-03 12:47 | Report Abuse

I try to call my remisier , hope to not disturb him to take lunch now.
haha

Posted by Joel > 2014-06-03 12:59 | Report Abuse

He said E&O is in Active stocks today juz now.
It might be go higher price ( could be exceed Rm2.90 ) today second round 2:30 pm (3 June 2014)
Vol 117,912,000 is consider high. Buy vol 26000 compared to 6900 sell vol.
Advice to buy mother better.

Posted by Equityengineer > 2014-06-03 13:35 | Report Abuse

Thanks....2.90 is first Physchology barrier who invested in this ... Let's see the show at 2:30 pm

Posted by janice249 > 2014-06-03 14:22 | Report Abuse

superb.... and finally :D

Posted by jeannie > 2014-06-03 14:47 | Report Abuse

Been waiting for this moment..finally..

Posted by Barbarian > 2014-06-03 14:48 | Report Abuse

Walaoweh, Saturn !!!!

Posted by Barbarian > 2014-06-03 14:53 | Report Abuse

Still 3cents short of my target


Stock: [E&O]: EASTERN & ORIENTAL BHD
May 30, 2014 12:56 AM | Report Abuse

Resistance 2.52 TP 2.89......1 cents short of Terry Thams price

Posted by dusti > 2014-06-03 15:00 | Report Abuse

So good to see everyone very happy. Like a dream come true. Keep calm. There is more to come soon. Cheers!

Posted by Joel > 2014-06-03 15:13 | Report Abuse

Too early to take profit fr now.
Today is juz begin the journey to the North RM3.00 above.
Patient .

Posted by 935win > 2014-06-03 15:21 | Report Abuse

RM3.00!!

Posted by jinv9 > 2014-06-03 15:25 | Report Abuse

RHB Research email of 3 june 2014 (today):

E&O (EAST MK, BUY, FV: MYR3.52)
Further Catalysts For Share Price
Company Update

We maintain our BUY rating with a higher FV of MYR3.52 on E&O. The three re-rating catalysts driving our FV upgrade are:
(i) greater management’s commitment after the recent 9.9% shares acquisition at MYR2.90/share;
(ii) acceleration of the Penang State Government’s endorsement for STP2’s masterplan; and
(iii) transacted price for the Eco Macalister land bumps up our RNAV with our new land value assumption of MYR400 psf for STP2.
.

Posted by Joel > 2014-06-03 15:26 | Report Abuse

E&O's management officers got action to the current price today.
My remisier sms me.
said to hold and keep first.

Posted by Equityengineer > 2014-06-03 15:27 | Report Abuse

Yes .., there is some strong demand

Posted by Joel > 2014-06-03 15:34 | Report Abuse

Hope last minutes ( 4:30 pm ) will rebound higher.

Posted by iafx > 2014-06-03 15:41 | Report Abuse

stp2 is a big boost to the company income and asset, the boss bought back at $2.90 is not without reason.

Posted by Equityengineer > 2014-06-03 15:49 | Report Abuse

Clear 2.70 means will close high today ...

Posted by sharizal78 > 2014-06-03 16:22 | Report Abuse

hope 4.30pm player will clear 2.70 today ;)

Posted by Joel > 2014-06-03 16:27 | Report Abuse

Now the buy vol much higher than sell vol.
I think will go up fr now.

Posted by Joel > 2014-06-03 16:40 | Report Abuse

Anyway, today is the well perform for E&O.
if close at rm2.69 I also feel happy enough.
Let hope and wish for STP 2 to approval soon. CHEER !

Posted by promaxsam > 2014-06-03 17:37 | Report Abuse

Suppose to sell today TP ,high volume is sign of shark selling . Sell on news target from RHB announcement . Take care .

Posted by darius_175 > 2014-06-03 18:46 | Report Abuse

Yes. Totally agree with you promaxsam. Be careful guys.

Posted by Barbarian > 2014-06-03 18:47 | Report Abuse

Kekekeke

Posted by Barbarian > 2014-06-03 21:30 | Report Abuse

My markers tell me TP 2.89 and it touched 2.86 today. As close as it may seem, it will still be a gamble to predict whether it can move like it did today but nevertheless the support is at 2.52. Need 1 more day or two to confirm stability

Posted by Joel > 2014-06-03 21:35 | Report Abuse

E&O will stable at rm2.70 or above these couple of day.

Posted by Barbarian > 2014-06-03 23:30 | Report Abuse

It's wave3 with a short term bearish from shooting star position.

Posted by Muarmali > 2014-06-04 09:30 | Report Abuse

my target is 2.75

Posted by sharizal78 > 2014-06-04 09:57 | Report Abuse

big war at 2.7..let's see who win...

Posted by ppginvest > 2014-06-04 10:03 | Report Abuse

who is buying & selling at 2.70?

Posted by sharizal78 > 2014-06-04 10:09 | Report Abuse

someone accumulate from from open market?

Posted by Barbarian > 2014-06-04 10:36 | Report Abuse

Today maybe shooting star again....

Posted by alphajack > 2014-06-04 10:37 | Report Abuse

3.00 long term lai lai