Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Saturday, August 27, 2011

Sime Darby buying 30% stake in Eastern & Oriental?

PETALING JAYA: Trading in the securities of Eastern & Oriental Bhd (E&O) has been suspended since Friday, pending a material announcement.

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

No comments: