Barefoot Investor: Malaysia shares SP Setia is something that we looked at

Having such a stake in companies such as Eastern and Oriental Bhd (E&O), certainly will gives them direct access in more property projects in Penang.

Based on the annual report of E & O, E&O, ie one of Penang's top property developers and land owners, has some 200ha in Penang alone worth RM1.1 billion. It also has sizeable landbank in Gombak, Ampang, Damansara Heights and other areas of Kuala Lumpur. And based on the latest announcement from Bursa Malaysia, several shareholders of E&O had been building up their stakes in the company between July 19 and July 22 2011, this certainly indicate something is happening in E & O there.

Meanwhile, as for SP Setia's three biggest shareholders are Permodalan Nasional Bhd with a 32.9 per cent stake, the Employees Provident Fund with a 14.47 per cent interest, and SP Setia president and chief operating officer Tan Sri Liew Kee Sin with 11.96 per cent share.


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