E&O expects better Q4 FY22 results

KUALA LUMPUR: Eastern & Oriental Bhd expects its fourth quarter (Q4) results for the financial year ending March 31, 2022 (FY22) to be stronger, mainly following the ongoing new signing of sales and purchase agreements (SPAs) of The Meg - Andaman Phase 1 project in Penang and the full operation of its hotel, among others.

Executive chairman Datuk Tee Eng Ho said based on the encouraging interest on the project that has reached about 40 per cent in the past two months, and with more events such as weddings taking place at its hotel, there is a high chance that earnings would be firmer than Q3 FY21.