EASTERN & ORIENTAL BHD
KLSE (MYR): E&O (3417)
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Last Price
0.32
Today's Change
0.00 (0.00%)
Day's Change
0.32 - 0.32
Trading Volume
3,851,000
Overview
Market Cap
479 Million
NOSH
1,498 Million
Avg Volume (4 weeks)
2,146,825
4 Weeks Range
0.30 - 0.36
4 Weeks Price Volatility (%)
33.33%
52 Weeks Range
0.28 - 0.56
52 Weeks Price Volatility (%)
14.29%
Previous Close
0.32
Open
0.32
Bid
0.32 x 236,100
Ask
0.325 x 810,000
Day's Range
0.32 - 0.32
Trading Volume
3,851,000
Financial Highlight
Latest Quarter | Ann. Date
31-Dec-2022 [#3] | 22-Feb-2023
Next QR | Est. Ann. Date
31-Mar-2023 | 25-May-2023
T4Q P/E | EY
4.45 | 22.49%
T4Q DY | Payout %
0.00% | 0.00%
T4Q NAPS | P/NAPS
1.19 | 0.27
T4Q NP Margin | ROE
37.35% | 6.04%
Market Buzz
2023-03-29
2023-03-29
News and Blogs
Company Profile
Description:
Eastern & Oriental Bhd, or the E&O Group, is a property developer based in Malaysia. The company?s property development portfolio is spread across Kuala Lumpur, Penang, and Johor?s Iskandar Malaysia, as well as overseas in central London. For the overseas expansion, the company focuses on investment and development within prime locations in London, including Princes House along Kingsway, ESCA House in Bayswater, and a commercial property in Hammersmith. The E&O Group?s hospitality division provides a complementary lifestyle component that supports the core property development business, including the heritage Eastern & Oriental Hotel and Lone Pine Hotel in Penang, as well as the contemporary E&O Residences Kuala Lumpur in the capital?s vibrant city center.
Discussions
17 people like this. Showing 50 of 9,553 comments
now you know the standard, overpaid for services and brand. Even the buffet quality dropped so much.
2021-12-09 12:35
Eastern & Oriental (E&O) recorded a 3QFY22 net profit of RM7.8m, swinging back from the net loss of RM14.0m a quarter ago, with better margins achieved and improvements in the hospitality segment with the lifting of travel ban for local tourists. The hospitality segment’s performance was also bolstered by a one-off recognition on gain on lease modification of RM9.3m during the quarter, and waiver of rental of RM11.8m. Taking out these one-off items, Group net loss YTD is estimated at RM25.7m, which is 61% and 50% of our and consensus forecast. As mentioned earlier, we only expect the Group to see earnings recovery in FY23, underpinned by projects such as STP2A (maiden launch, “The Meg” was soft-launched recently) and The Peak (JV with Mitsui Fudosan, RM348m GDV. We adjust FY22 earnings upwards by 54% to account for one-off gains and nascent recovery for the hospitality segment. Separately, the Group has also proposed a rights issue of ICULS (1 ICULS for every 2 existing ordinary shares in E&O) to raise between RM178m and RM363m, mainly to be used for existing and future projects. Pending the completion, we maintain our Neutral call with TP unchanged at RM0.60, pegged at ~70% discount to RNAV, excluding STP2B&C.
2022-04-22 16:47
3QFY21 Group revenue dropped 36% YoY due mainly to the absence of new launches, and also slower-than-expected sales in on-going projects (mainly Conlay, KL). The properties segment recorded a drop of 56.3% YoY to RM65.8m, primarily due to a sale of land of RM55.0m last year and lower sales of completed properties YTD. Meanwhile, the hospitality segment recorded revenue of RM16.6m or increase of 25.8% YoY due to higher revenue generated following the lifting of interstate travel ban for local tourists. The segment recorded an operating profit of RM10.8m YTD, mainly lifted by the recognition of gain on lease modification of RM9.3m and waiver of rental of RM11.8m.
2022-04-22 16:47
Proposed rights issue. The Group proposed a renounceable rights issue of up to RM363m in nominal value of 5-year 3.80% irredeemable convertible unsecured loan stocks (ICULS) at 100% of their nominal value of RM0.50 each, on the basis of 1 ICULS for every 2 existing ordinary shares in E&O. Assuming maximum scenario, it plans to utilize 80% of the proceeds to embark on several new development projects and reclamation of Andaman Phase 2B and 2C. We understand that the fixed funding cost of 3.8% per annum (p.a.) is comparable to the Group’s current average borrowing cost of 3.77% p.a. The exercise is expected to be completed by 4QCY22.
2022-04-22 16:47
Company is healthy just that thing is a bit outdated, hope for the improvement on business , only that share price will fly
2022-06-07 11:58
ICULS at 0.50 will be a flop. Why buy ICULS when we can buy the parent at a lower price.
2022-09-15 11:55
Based on my calculation , the fair value of e&o in year 2023 will be 0.80, today closing 0.415, think about that.........
2022-10-13 18:16
As rule of thumb, no matter how attractive is the fair price, never buy a stock that is on down trend.
Just look at the share price, is been on down trend since 2014. Even if you buy today, you never know how long your capital will stuck in this stock for how long. Stay away
2022-10-27 22:39
Coupon rate of 3.8% p.a. for the ICULS is the not attractive especially in the current environment of high and increasing interest rate. Worth mentioning that there are other similar securities currently listed that offer higher yields and better future biz prospects.
2 months ago
@Ivanlau Am very interested to know how you calculate the fair value of e&o. Can share your calculation?
1 month ago
Peace99, once the share price reach 0.80 , I will disclose my fair value formula..... today closing 0.425 !
1 month ago
Will be nicer if we can know soon for ppl to make judgement . Can help us in decision making. But if you prefer to wait, I am ok with it. Good luck and huat chai!
1 month ago
JCGan888, don't worry, pls refer to the announcement :
Renounceable rights issue of up to RM255,764,462 in nominal value of 5-year 3.8% irredeemable convertible unsecured loan stocks ("ICULS") at 100% of its nominal value of RM0.235 each on the basis of 3 ICULS for every 4 existing ordinary shares in Eastern & Oriental Berhad ("E&O") held as at 5.00 p.m. on 20 February 2023 ("Rights Issue of ICULS")
1 month ago
Am impressed by its Penang reclamation projects....so what the rush to sell at less than the fair value?
1 month ago
E&O faces new survival challenges. Now PSI seems to be coming to life. New growth area in Penang shifted to South/ Southeast near to Penang bridges and Batu Kawan.
https://www.thestar.com.my/news/nation/2023/02/21/penang-islands-project-wins-award-for-low-carbon-city-plan
1 month ago
All time low! Luckily I never held on to this dog after selling off my last shrs on 16th Mar '21...
1 month ago
NOT bad at all! See
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=221985&name=EA_FR_ATTACHMENTS
3. Group's Prospects
The Meg which comprise 1,020 apartments and 14 shop units is more than 95% sold since we started selling this
project in January 2022. We are excited with our upcoming launches given the strategic location and well accepted
product offerings. While Penang will form the bulk of our future launches, the hospitality segment is enjoying historical high occupancy rate and average room rate on the back of continued strong recovery in tourism and business travel.
I cancelled my queue to sell, haha
1 month ago
Oh, a former director who retired sold 8.8 mil shares in just 2 days 20&21 Feb. Think this was the main reason why it went so much down that two days. Expecting upward movements going forward.
1 month ago
Director to cash out & diverted to subscribed d RIs w constant coupon payout. Any idea wat wud b dis NEW loan stocks coupon rate?
1 month ago
Long queue at LR, good sign. Ppl who sell mother below fair price and hope to get cheap by bidding excess be careful....may be difficult. Good luck!
1 month ago
Be confident...... the fair value of this stock will be 0.80 in year 2023. Today closing 0.315
1 month ago
Hey, Below is ChatGPT translation of
https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-02-23-story-h-297431019-E_amp_O_Sees_Rights_Issue_Future_Sales_Supporting_Phase_2_Andaman_Islan
CEO早间简报
E&O计划权益发行，未来销售支持第二阶段安达曼岛的资本支出
edgeinvest
发布日期：2023年2月23日，上午8:42
E&O总经理郭德昌（左）和执行主席Datuk Tee Eng Ho（Low Yen Yeing / The Edge拍摄）
吉隆坡（2月22日电）——房地产开发商东方和东方集团（Eastern & Oriental Bhd，简称E&O）的高负债对该集团而言影响甚微，因为该集团预计通过最新的筹资提议和销售所产生的现金将支持其下一个增长阶段。
该集团正在寻求第二阶段安达曼岛项目的额外资金，尽管缩小了首次在2022年2月提出的权益发行，该集团预计明年手头将有约5亿令吉的现金。
在E&O的业绩简报会上，该公司总经理郭德昌表示，他相信该集团的不可赎回可转换无担保贷款股（ICULS）权益发行将被充分认购，以实现其新目标，即筹集2.55亿令吉的新资本。
加上其房地产业务和酒店业务的持续销售和收入，郭德昌表示该集团到明年将拥有5亿令吉的现金。
该集团截至去年12月末的总借款为12.9亿令吉，现金为1.8631亿令吉。相对于18.3亿令吉的股本，总杠杆率为0.7倍。
E&O拟通过发行每四股E&O股份配发三张不可赎回可转换无担保贷款股为安达曼岛项目提供部分资金，每张股票价格为23.5仙。
这些ICULS的存续期为五年，票面利率为3.8％，转换价格为23.5仙。这些权益从2月21日（星期二）开始交易，最后交易价为3.5仙。
相比之下，E＆O的最后交易价格为30.5仙，市值为4.5041亿令吉。该集团此前提出以50仙的价格每两股E＆O股份发行一张ICULS，以筹集高达3.6278亿令吉的资金。
在安达曼群岛项目中，E＆O执行主席Datuk Tee Eng Ho表示，该公司预计在2024财年第二阶段的Seri Tanjung Pinang（STP）将投入2亿令吉的资本支出。
Tee表示，预计安达曼岛第一阶段的开发将在未来15年内提供170亿令吉的总开发价值（GDV）。
E＆O已经完成了253英亩的第一阶段填海造地，而507英亩的第二阶段预计将于2028年12月完成，Kok表示。
第三季度盈利近4倍增长，主要得益于安达曼岛第一阶段的首次推出销售
截至2022年12月31日的第三季度（3QFY2023），E＆O的净利润从去年同期的783万令吉跃升近4倍至3009万令吉，营收激增超过3倍或247.32％，从2338万令吉增加至8120万令吉，这主要是由于安达曼岛第一阶段的首次推出销售The Meg- 1020套服务公寓和14个商铺的销售额增加，以及填海造地的收入确认。
值得注意的是，其酒店业务部门的收入贡献增长了305.4％，从去年同期的1660万令吉增加至5070万令吉，主要是由于入住率和平均房价的提高。
截至2022年12月31日的九个月（9MFY2023），E＆O实现了盈利，净利润为2845万令吉，而去年同期则亏损了1526万令吉。累计营收从之前的8379万令吉激增了201.69％至2.5277亿令吉。
关于其前景，E＆O表示，自2022年1月开始销售项目以来，The Meg已经超过95％的销售。
该集团表示，鉴于其战略位置和广受欢迎的产品，它对即将推出的项目感到兴奋。
“虽然槟城将占据我们未来发布的大部分，但由于旅游和商务旅行持续强劲复苏，酒店业务部门的入住率和平均房价创历史新高，我们对其充满信心，”它补充道。
在2023财年之后，Tee将销售目标定为2.5亿令吉。
资料来源：TheEdge-2023年2月23日
1 month ago
@Peace99 Thx for the info sharings, will revalue wat IvanLau meant in the earlier messages. Cheers & happy tradings
1 month ago
a lot of wayang ctrs nowadays tat to trap investors' hard earns. As v r not $ printers, got to b very cautious not being tight down tat cry till no tears....!
4 weeks ago
@ks55 Are you refering to LC? Can explain how it is overpriced....as it can be converted to mother with no additional conversion fee.
1 week ago
Exciting, now E&G owns 100%
https://klse.i3investor.com/web/staticfile/view/493501
4 days ago
https://www.asiapropertyhq.com/best-areas-living-penang-retirees-expats/
These areas are in the vicinity of E&O's Andaman! Also at least 4 international schools nearby.
can also see other youtubes, such as etc:
https://www.youtube.com/watch?v=rq_sZQCWI_k
2 days ago
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