KUALA LUMPUR: AmResearch has reaffirm its Buy on Eastern and Oriental Bhd
(E&O) with an unchanged fair value of RM4.00/share, based on a 15% discount to NAV of RM4.73/share, it said in a note on Thursday.
"Our NAV model is based on a conservative assumed land value of RM250psf for Sri Tanjung Pinang 2 (STP2) and has yet to capture any development profits from STP2.
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