Goldman Sachs - E&O

Filings to Bursa Malaysia show Goldman Sachs has disposed E&O shares consistently recently. The details of the disposals are as follow:

Date & No of securities
11/06/07 - 100,000
12/06/07 - 100,000
13/06/07 - 60,000
14/06/07 - 31,000
15/06/07 - 5,000
18/06/07 - 300,000
19/06/07 - 300,000
20/06/07 - 500,000

After the disposal, Goldman is still holding 27,369,300 shares (7.17%). As Goldman continues to dispose E&O, I believe it would be difficult for E&O to have any breakout from it's trading range in the near term. E&O has been trading around RM3.00 a few weeks. I would consider E&O is lucky enough if it can hold around RM3.00 while Goldman continues to sell off.