E&O - Proposed disposal of equity in E&O Prop and P Perdana

There is no surprise from E&O latest quarterly result. It has recorded revenue of RM320mil for the quarter ended 31 March 07. The net profit of the quarter is RM31mil and EPS is 7.39 sen. Higher dividend is proposed as well (4 sen vs 2 sen). Everything is in line with the expectation.
The only surprise that I got is E&O proposed to dispose 13.8% of their holding in E&O Prop and the entire holdings in Putrajaya Perdana. As an estimation, E&O will get a proceed of RM500mil from the disposals.
About a year ago, E&O MD, Datuk Terry stated that E&O will be a complete property company where it has property development, construction and hotel operations. However, E&O came out with this proposal just after the restructuring being completed.
It is a good chance for E&O to cash out their investment. Should capital repayment takes place after the disposal? Where and what is the growth for E&O in the future?
How the proceed will be utilised?
A bit confusing about E&O future ....