Shareholders have voted in favour of the E&O Property Development Bhd-E&O Bhd merger, which is expected to be completed by the middle of this year PROPERTY development will continue to be the core driver of the soon-to-be-enlarged Eastern & Oriental (E&O) group, with over RM4 billion projects to be launched within the next three years.Managing director Datuk Terry Tham said in five years, property development would account for 60 per cent of the group's earnings, while property investment and hospitality/lifestyle business would equally contribute 20 per cent each."Our property investment division will allow us to maintain prime commercial assets worth RM1 billion over the next five years," he said, adding that this will provide the group with recurring income and capital appreciation. Read more
(New Straits Times 16-2-2008)
