E&O on track to hit target

Scenic: The shoreline slated for reclamation under Seri Tanjung Pinang Phase Two project. Chan says E&O is in final negotiations to award the reclamation contract to a potential partner

KUALA LUMPUR: Eastern & Oriental (E&O) Bhd is optimistic of achieving its net profit target of RM173mil for its current financial year ending March 31, 2016, based on the number of ongoing projects the company has in its pipeline.

The company had set a cumulative net profit target of achieving RM450mil from 2014 to 2016, with the RM173mil being the “balance of target” to be achieved for this year, said deputy managing director Eric Chan.