AmResearch maintains Buy call on E&O

E&O will reclaim 253 acres of prime seafronting land along with another 131 acres at Gurney Drive – the latter is to be given to the Penang government. CCCC also has a conditional award to undertake reclamation works for Phase 2B & 2C for RM1.3bil. 

But this is subject to a review of its performance on Phase 2A, and approval from the board of Tanjung Pinang Development/E&O as well as the relevant authorities.