E&O To Launch Waterfront Project On Andaman Island By End Of 2026

KUALA LUMPUR, Feb 26 (Bernama) -- Property developer Eastern & Oriental Bhd (E&O) plans to launch a waterfront project on Andaman Island, Penang, by the end of 2026.

Managing director Kok Tuck Cheong said the project will involve the development of commercial components on a 30.35-hectare site.

“The waterfront location is adjacent to our ongoing residential developments, Maris and Avea.

“In terms of pricing, we intend to maintain our current price levels,” he said during E&O’s financial results briefing today.

Meanwhile, E&O’s net profit jumped to RM63.51 million in the third quarter ended Dec 31, 2025 (3Q FY2026) from RM30.89 million in the preceding year’s corresponding period.

For the quarter under review, the group posted revenue of RM243.92 million, a year-on-year (y-o-y) increase of 45 per cent from RM167.74 million. 

“The strong performance was driven by higher revenue recognition from ongoing developments,” it said in a statement.

For the first nine months of FY2026, E&O's net profit surged to RM159.17 million from RM98.80 million previously.

Revenue for the period also increased 25 per cent y-o-y to RM631.79 million from RM504.43 million previously, driven by the stronger properties segment.

The group has proposed an interim dividend of one sen per share for the financial year ending March 31, 2026, and the payment date will be announced in due course.

-- BERNAMA