E&O: Brexit won’t hit value of our UK properties

E&O: Brexit won’t hit value of our UK properties

PETALING JAYA: Eastern Oriental Bhd (E&O) is confident that Brexit – the UK’s exit from the European Union – will not have any negative impact on the total net realisable value (total value of properties less total bank borrowings) of its properties in the UK.

It said in in a filing with Bursa Malaysia Securities that it invested in London before property prices rose sharply there and the ringgit to pound’s average exchange rate was lower than what it is today.

E&O also said its bank borrowings are conservative with a low loan-to-value ratio and its properties are in prime locations.

 

— THE SUN

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