Posted by jackson88 > 2020-06-10 09:14 | Report Abuse

And I’m sure some kind of assurance was given to Wan Azmi on dividend (probably at least 3%). Otherwise, he would not have invested RM150mil in E&O. There is still RM550mil Cash/Bank balance in the company before the latest RM1.3bil bond issuance.

Posted by abang_misai > 2020-06-10 09:30 | Report Abuse

in a nutshell, if you bought at 0.46, you out-smart tycoon Wan Azmi by 100%

Posted by melanie1818181818 > 2020-06-10 09:37 | Report Abuse

Sure have dividend la, 0.03 only need 45m out of 1.9b cash, making yield about 6.5%

Posted by melanie1818181818 > 2020-06-10 09:38 | Report Abuse

It’ll track mahsing and break 0.50 once announced

Posted by jackson88 > 2020-06-10 09:44 | Report Abuse

I have sold all my 20,000 lots of Mah Sing at 58sen last week. And change to E&O at 43sen last week

Posted by jackson88 > 2020-06-10 09:45 | Report Abuse

I bought 950 lots of E&O This morning at 46sen. Very low volume. Let’s see what happen after this

Posted by jackson88 > 2020-06-10 09:47 | Report Abuse

Both Mah Sing & E&O used to be same price 2 months ago

Posted by melanie1818181818 > 2020-06-10 09:47 | Report Abuse

only 0.32 book value, what to lose. mahsing also power up today, wanna test 0.60

Posted by jackson88 > 2020-06-10 09:54 | Report Abuse

Usually, E&O will make some good announcement on Their projects during their AGM. I heard that they may do a JV with Mitsui Fudosan at Penang STP2A phase one. Anyway, let’s wait for their Q4 result and see what kind of dividend they will give. Mah Sing also flew sky high from 40sen after their announcement of 3.35sen dividend.

Posted by melanie1818181818 > 2020-06-10 10:01 | Report Abuse

plus unrest in hk will benefit e&o, hongkies simply like penang, and balik pulau durian

Posted by setia2u > 2020-06-10 14:01 | Report Abuse

Bukit Bintang City Centre (BBCC) enters JV with Mitsui Fudosan (Asia)
for en-bloc deal of RM242 million

Posted by setia2u > 2020-06-10 14:02 | Report Abuse

A leader in multi-sector Asian real estate.
Mitsui Fudosan (Asia) is a rapidly expanding real estate company with assets across Southeast Asia. Our impressive portfolio, extensive experience, and aggressive growth mindset give us all the tools we need to succeed. From Singapore, Malaysia, Thailand to Australia and beyond, our focus is on developments that benefit communities around the world.

Posted by setia2u > 2020-06-10 14:03 | Report Abuse

Going BIG .... this Mitsui Fudosan!!!

Posted by jackson88 > 2020-06-10 17:19 | Report Abuse

I’m still trying to collect more shares at 46sen. But very little seller. Waited whole day and only manage to get 1,400lots today. Targettting another 8,000 lots ....pray more people will sell and I can get tomorrow. Need to buy before announcement of dividend this month

Posted by jackson88 > 2020-06-10 17:23 | Report Abuse

What this shows is Jemaah Urusharta already finish selling their 5% stake in E&O. Very little sellers left.

Posted by abang_misai > 2020-06-10 17:37 | Report Abuse

Jemaah’s strategy enriches us. Their modus operandi is to buy high and sell low

Posted by melanie1818181818 > 2020-06-10 19:02 | Report Abuse

ju is good, beat down so many counters for others to collect cheap
need to thank epf too for selling down mahsing

Posted by jackson88 > 2020-06-10 19:51 | Report Abuse

Yes, we should all thank those in Jemaah Urusharta. If not for their silly move, we won’t be able to buy cheap. I got Mah Sing at around 31sens thanks to them. E&O at 30sen.

Posted by jackson88 > 2020-06-11 09:52 | Report Abuse

https://www.nst.com.my/business/2020/06/599069/what-amazing-parade-eo

There will be a fight in E&O board as a matter of time. Those with the most shares will end up with control.

Posted by abang_misai > 2020-06-11 11:40 | Report Abuse

A main-con Kerjaprospek is growing to a giant size and now makan Developer E&O. Surely Tee brothers will keep accumulating especially at this cheap price so that Tee brothers can soon gain control over E&O.

Posted by abang_misai > 2020-06-11 11:53 | Report Abuse

Kerja Prospek has been the main con to the developer E&O. For sure, Kerja Prospect's brothers wholly undertstand the E&O, i.e. valuable asset, potential for near to mid future, working culture in the organisation, etc. Otherwise, why spend so much money to makan this company and to gain control on the operation.

Posted by jackson88 > 2020-06-12 10:15 | Report Abuse

Just bought another 2,000 lots today at 41.5sen. Very low volume ...:need more sellers

Posted by Pi Xiu > 2020-06-12 10:51 | Report Abuse

just think to catch at 42, but miss it, force to take 42.5

Posted by jackson88 > 2020-06-12 13:38 | Report Abuse

I think I will also try to buy later at 42.5sen. Not much sellers even at 42sen. Waited whole day ....need to reach my target before announcement end of this month

Posted by Pi Xiu > 2020-06-12 15:47 | Report Abuse

I not look for dividen, i just look at the restructure of e&o balance sheet, with the 1.2 billion sukuk, e&o net gearing is lower, and confirm can wither through the covid19 storm

https://fast.bnm.gov.my/fastweb/public/PublicInfoServlet.do?chkBox=202000000001&mode=DISPLAY&info=FACILITY&screenId=PB030800

Posted by jackson88 > 2020-06-12 15:55 | Report Abuse

Yes, this is the reason why they announce cancellation of rights issue. The dividend will be a bonus for investors in E&O

Posted by jackson88 > 2020-06-12 15:59 | Report Abuse

Financially, E&O already clear from difficulties as they already completed STP2A at Tanjung Pinang. No more big liabilities. Their current projects in KL are all JV with Mitsui Fudosan which will not incur debts as they are landowners.
Looking forward, they will be milking profit from STP2A after 2021. Book value of STP2A is only less than RM900mil while market value is easily above RM3bil (6mil sq ft at RM500psf)

Posted by jackson88 > 2020-06-12 16:07 | Report Abuse

https://www.sc.com.my/analytics/bonds-sukuk-market/list-of-corporate-bonds-and-sukuk-under-lodge-and-launch-framework

The Sukuk Bonds was completed and issued on 13 March 2020. Meaning that this 4th Qtr result will show the conversion of existing debts into Bonds in the Balance Sheet. They are entitled to classify it as equity which would then put the company in net cash position

Posted by ElwinPg > 2020-06-15 10:55 | Report Abuse

thanks for the info. Will try to buy at 42.5 today before Quarter result and dividend announce. Still on queue

Posted by ElwinPg > 2020-06-16 16:15 | Report Abuse

there is not much seller of E&O in the market now. The public shares seem to dried up. What happen?

Posted by jackson88 > 2020-06-16 16:21 | Report Abuse

Elwin, I think the insiders and large players already bought most of the public shares. Not surprise if they end up taking this company private. Whole company only worth less than RM600mil now while RNAV is more than RM3.5bil. Read this.

https://www.nst.com.my/amp/business/2020/06/599069/what-amazing-parade-eo

Posted by Pi Xiu > 2020-06-16 17:17 | Report Abuse

If privatise, they have to pay premium to Sime Darby, ceo said the current price is very low, Sime Darby is not like Tabung Haji, they can hold, and they oledi do impairment loss on e&o investment, I think the price on Sime Darby book should be around 56sen
https://www.theedgemarkets.com/article/sime-darby-open-selling-eo-stake-says-ceo

Posted by jackson88 > 2020-06-16 20:07 | Report Abuse

Sime Darby bought E&O 30% at RM2.30 per share in 2011. And they sold 20% at RM2.60 in 2015.
This is all before the completion of STP2A reclaimation in Penang worth RM3billion in land value. https://www.edgeprop.my/content/sime-darby-buys-30-eo-rm766m

Posted by abang_misai > 2020-06-16 20:27 | Report Abuse

If you notice recent annocement, Datok Tham intends to purchase stocks outside market pending release of result 4QFY2020 ending 31/3/2020.

As per Bursa's regulation, directors cannot purchase/dispose big blocks of stocks in open market 1 month before the release of result.

Founder Datok Tham must be worried over Kerja Prospeck Tee brothers' recent aggressive purchase, now accumulatively own 22% of E&O shares and Tee brothers have emerged as largest shareholders in the E&O.

Datok Tham is now ranked second at 15% and must be desperate to increase his stakes in order to maintain his control in E&O.

Note: Tee brothers used the same strategy to gain control on Kerjaya Prospek. This what worries Datok Tham.

Posted by abang_misai > 2020-06-16 20:30 | Report Abuse

This type of competition (to increase stakes to gain control) is very interesting. It won’t take long to be reflected in its share price. Buy & keep for 6 months. You can triple or at least double your investment.

Posted by jackson88 > 2020-06-16 20:44 | Report Abuse

I notice that last few weeks, the volume is very low and the sell volume is mostly low (less than 100,000units). Meaning that sellers are now just small retailers. So, it means:-
1. Jemaah Urusharta already finish selling their shares and no more sales by fund managers
2. Most shares already in the hands of big players including Dato Tee
3. Big players no longer selling
4. Public spread of shares is already reduced significantly

Due to low public spread, the shares will easily jump up in price if there is some good news and/or anyone want to accumulate.

Yes, agree that this counter will go up a lot if can hold at least 6 months. Previously, price went up above RM2

Posted by RainT > 2020-06-20 17:02 | Report Abuse

price above RM2 is long long history ago

now property and economy environment can same as long long history ago?

if not, how to go back to RM2?

Posted by actura > 2020-06-21 00:09 | Report Abuse

Got 1rm i start laughing in the bath room

Posted by T800Terminator > 2020-06-21 13:39 | Report Abuse

Got 0.80 I also laugh in store room.

Posted by jackson88 > 2020-06-22 10:54 | Report Abuse

In 1999, this counter was down to below 40sen. Also recover to almost RM3. In 2008, it was again down to 40sen. Also recover in 2 years to almost RM2.50. All take around 2years. So, how about 2020?

Posted by actura > 2020-06-22 15:31 | Report Abuse

2020, might Apok pun tarak

Posted by setia2u > 2020-06-22 20:35 | Report Abuse

just be patience guys. Some counters there are things so called "pump and dump" , this counter is on the opposite, "push down and collect"....someone will be there to make sure it closes lower than previous day, someone keeps on collecting .....

Posted by jackson88 > 2020-06-22 21:05 | Report Abuse

Yes, I notice someone purposely lower the share everyday by selling just 1 lot to close it 0.5sen lower everyday....just before market close

Posted by pontianak > 2020-06-26 08:28 | Report Abuse

a very typical scene for most of the property counters

Posted by actura > 2020-06-26 11:56 | Report Abuse

wait you at 0.3xxx

Posted by RainT > 2020-06-29 10:50 | Report Abuse

when want 0.30??

Posted by RainT > 2020-06-29 10:53 | Report Abuse

@jakson88

your 2 years theory hopefully is true la for this round

but for it to come true, overall economy need good la, then property market will be good also

if not also hard as this round is not on property sector only, but whole economy

in the past years, economy still not bad, property segment in Msia already bad and now with economy turn bad and plus with property sector that is already bad, make it worse

Posted by RainT > 2020-06-29 10:53 | Report Abuse

every day seem 0.40 is well supported , i want buy below 0.40, also cannot get le

Posted by jackson88 > 2020-06-29 15:38 | Report Abuse

RainT, I just bought some at 39.5sen. Let’s wait and see 4Qtr result ...should be out today or tomorrow. I’m waiting to see whether the company will announce the 3sen dividend (like last 10yrs). They have the cash as they just completed the Sukuk Bond RM1.2billion.

Posted by ElwinPg > 2020-06-29 15:41 | Report Abuse

Jackson, I am queuing now at 39.5 sen for 400 lots.....waiting for sellers.