Specialist fund manager Value Partners says it will accept a privatisation plan by loss-making trading firm East Asiatic Co (Hong Kong) (EAC) if the offer price is $1.20 or better. Norman Ho Man-kei, assistant fund manager of Value Partners - which holds a 5.2 per cent stake in EAC - said: 'Technically, [EAC] is insolvent because its debts are very high and it continues to suffer losses.' EAC reported an attributable loss of $27.3 million for last year after losing $9.4 million in 1995. It was announced last Thursday that EAC's Danish parent, East Asiatic Co, was considering the revival of a plan to privatise its offshoot. The plan lapsed in December 1995 when fund manager Templeton, which owns 7 per cent of EAC, demanded $1.90 a share, instead of the $1.20 offered. Templeton declined to comment yesterday.