E&O partners Taiwanese firm to market Penang condominium project

KUALA LUMPUR (Jan 23): Lifestyle property developer Eastern & Oriental Bhd (E&O) has teamed up with Taiwan-based marketing agency TW House, to kick off the regional launch of its "18 East at Andaman" condominium project in Penang.

“Currently, due to the increasing property prices and decreasing rental yields in Taiwan, many investors are eyeing international properties to buy into. As the property prices in Malaysia are competitively priced relative to other countries in this region, we are confident that properties such as 18 East at Andaman would truly appeal to them,” E&O (fundamental: 1.5; valuation: 0.6) deputy managing director Eric Chan Kok Leong said, in a statement today.
The 18 East at Andaman is a world-class seafront condominium development at the 240-acre Seri Tanjung Pinang in Penang. It offers a 4.5-acre private waterpark and another 6.9 acres of greens, with completed facilities such as a spa pool and resort lifestyle for homeowners.
“Proximity between Malaysia and Taiwan will be one of the main key considerations for property buyers, as we’re only four hours of flight away.

"Aside from geographical location, 18 East at Andaman offers a host of quality specifications and distinctive features that makes it stand out as one of the most luxurious condominiums in Penang, as well as in the region,” said Chan.
E&O shares closed 6 sen or 2.88% lower at RM2.02 today, bringing it to a market capitalisation of RM2.47 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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