E&O

SP Setia eyeing the E&O shares

Business Times (29/07/2011) reported that shareholders of SP Setia had made overtures in recent months with certain shareholders of E&O, who may have included Temasek Holdings director Goh Yew Lin.While this rumours is unconfirmed, if the deal materialises, the rationale can be easily explained. SP Setia only left with 60 acres of land in Penang island. SP Setia's three biggest shareholders currently are PNB (32.9%), EPF(14.47%) and SP Setia president and chief operating officer Tan Sri Liew Kee Sin (11.96%) . For E&O, Singapore's G.K. Goh Holdings Ltd owned 13% and E&O managing director Datuk Tham Ka Hon and spouse Datin Chua Cheng Boon about 17%.

Buy when tri breakout above RM1.64-RM1.65.
Remark : 04/08/11 - sold at RM1.74 (profit)