Shares of the property development company was last traded at RM1.45 on Thursday, which was two sen higher from the previous day. Rumours were rife that conglomerate Sime Darby Bhd would be acquiring a 30% stake in the company from Singapore-listed G K Goh Ltd.
At press time, no announcement has been issued.
Trading in G K Goh had also been suspended pending an announcement.
E&O has several projects, the largest of which is the 980-acre seafront development Seri Tanjung Pinang in Penang. It also has pockets of land in Jalan Kia Peng and Jalan Yap Kwan Seng in Kuala Lumpur and 365 acres at Gertak Sanggul in Penang plus bungalow lots in Damansara Heights.
By The Star
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