EPF ceases to be substantial shareholder in E&O

KUALA LUMPUR (March 2): The Employees Provident Fund (EPF) had ceased to be a substantial shareholder in Eastern & Oriental Bhd as of Feb 26, according to a Bursa Malaysia filing today.

This followed the disposal of 675,000 shares, representing 0.06% interest in E&O (fundamental: 1.5; valuation: 0.6).

According to earlier filings on Bursa, EPF emerged as a substantial shareholder in the property developer on Jan 23 this year, with a 5.09% stake or 62.25 million shares.  

The provident fund started disposing shares in E&O on Jan 29, selling 1 million shares or 0.08% stake.

In February, EPF continued to dispose E&O shares, amounting to 485,000 through two transactions.

Following the latest disposal, EPF should still have 61.11 million shares in E&O, which worked out to a 4.99% interest in the company.

E&O closed 11 sen or 4.82% lower today at RM2.17, giving it a market capitalisation of RM2.788 billion.  

(Notes: 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.)