Eastern Holdings

Eastern Holdings +23% to 6-session high of $0.19 on higher average traded volume as interest in this thinly traded stock driven by proposed $43.5m sale of its exhibition business to SPH. Sale would EPS would boost EPS to 8.86¢ from 1.95¢ and NTA to 23.61¢ from 15.8¢ on pro forma basis. However, prospect of special payout to shareholders dim given weak FY10 earnings (-64.4%) from property business and net gearing of 0.41x.