The engineering arm of the company is turning around , with already 2 improving quarterly results reported. Total order book stands at RM 1.4 b with half of it is expected to be recognized in 2015. India, a market in which scomien already has a footing, is to benefit from falling oil price as the saving will help them to better undertake major infrastructure projects.

India is a major monorial market. It is also the third largest importer of oil.

Well said, I investor. As investor we do welcome all news related to the counter we invest in, whether they are good or bad, so that better decisions can be made. A company can not guarantee you profit for every projects it undertakes , but that does not that company uninvestable.
Thank you I investor for your continual update on the unfolding events in the engineering arm of the company.

Right, this forum is for sharing and exchanging of knowledge, info and opinion whether they are pro's or con's . We grow as we learn.

anything is possible when sentiment takes precedence as is what happens now

Eventually the shale producers have to work with OPEC on production cut to stabilize price. Survival is everybody's business , isn't it? Saudis will be stupid if they were to cut production now and let the shale producers take advantage. Until we see a drop in supply , oil price will be at depressed state.

sonic008, this counter keeps dropping becos oil price keeps falling. Some says oil will drop to 40 USD . B4 you subscribe to this doom scenerio, look at the production costs of US shale oil producers . Very few of them can survive below 50 USD. In fact in sites with the lowest extraction costs, the number still stands at 42 USD . As oil price falls, new exploration and drilling will be retarded, as some shale producers go bust.

One of the strong hands

Datuk, you said 25-30% drop for KLSE, I wonder what will that leave for BJ Corp? I have no misailah, wish I were him rather than sounded like him in name,kikiki!

OPEC can't stop oil production growth, will market price action do it, especially in the short term when all hedge funds were aiming short in crude oil? will new exploration or drilling be retarded if not at all by market action?

Datuk has got a point. I guess it's a race with time for shale producers now as many of them pump oil on borrowed monies. Newer technologies have to come out before price indeed falls to 40 USD or many will go bust. To my knowledge the production in sites with the lowest cost is 42 USD at the moment, and many will have been priced out long before price reaches the doom level.

They will eventually be forced to work with OPEC on production cut and effect a stabilisation in price . Their own survival is at stake.

crude oil below 40 USD? by then all shale producers are gone

Oil price cannot be falling forever

Has the knife hits the floor ? perhaps not for contra or short-term players.Despite the price fall, its 65.64% holding in scomies alone already amounts to about RM 937 mils . The strong hands must be eyeing this counter now that price may be already near the bottom.

Mr Ben has proposed share buy back." Based on the latest audited financial statements for the financial year ended 30 June 2014, the company shall allocate an amount not exceeding RM 181,018,969 for the Proposed Renewer, comprising of retained profits and share premium account of Benalec of approximately RM 23,759,181 and RM 157,259,788 respectively."

Saudis burn money to throw US shale producers out of business. If price continues falling, the US shale producers will eventually be forced to work OPEC on reducing output to bring up price. Saudis will be stupid to cut production now and allow shale producers to benefit at their expense. The time will come as many of the shale producers are pumping oil on borrowed monies. Who wants to keep pumping and suffer loss if indeed oil will fall to 50 USD ?

time to bottom fish ?

wisdomboy, what price can go in ?

just run

ru........n

Young men, what say you?

Improving quarterly results, hurrays!

When market is up , promoters sing at how rosy the future could be , so that they can off-load their holdings to you at higher prices; Now the market is down, doomsayers are here to shake you off the market so that they can buy at lower prices later. You will be buying high and selling low if you dance to their tunes.

When market is up, promoters sing at how rosy the market is or will be , so that they can sell their holdings at higher prices. When market is down, doomsayers are everywhere, hoping to shake you out of market so that they can buy your shares at lower prices later. Hold your nerve !

may be the gate keepers have not finished accumulating

If no production cut further volatility in oil price will continue. But no cut also means drilling and pumping will go on as usual. It should ma chau pow,U chau thiau for equipment manufacturers and storage facility providers or those in the oil supporting industry such as KNM. Ai, sentiment ?

Oil price will drop if everybody keeps on pumping, as is what happens now as no producer is willing to lose market share. If no cut in production is effected, then there will be industry activity at lease maintained at current state , which means there will still be contracts for those involved in the supporting business . Why the big drop in price if there will still be drilling activity .Kind of ironic , isn't ?

Sentiment,sentiment,sentiment. Opec meeting is making everybody very nervous. Hopefully price action today already factored in worst outcome of the meeting

Agreed godbless88, but this is a heavily knocked counter . Stale bulls are still licking their wounds

The slide in price has been a result of concern over falling oil price due to competition from shale oil in US , but oil price will not drop forever.The production cost of shale oil is higher, and " much of shale boom is sustained by borrowed money". " There is no doubt that you will see a lot of people who are vulnerable, especially those smaller players who do not have deep pockets, and are already deep in other people's pockets"

dumping stops when all bulls have been slaughtered

playing with the price to shake off weak holders

to shake weak holders

source:Kenanga

So far,in FY14, Benalec has sold 284.5 acres of land in Malacca, amounting close to RM500m. All in, Benalec pocketed net gain of RM106m from the land sales which will be progressively recognised from FY15 onwards.

The engineering arm of the group is reporting improving results from one quarter to the next.Sales recognition from Sao Paolo project in 2015 will give further boost to its earnings . Turnaround is in the making for the group as can be been from 2 consecutive quarters of good results

Roman empire was not built in one day

Taciturn, you seem to be very good at making sense out of available data and info.
On 11/9 you wrote: " Actually, the next quarterly results should be pretty good since Benalec will be booking ...." when things seemed to be very gloomy then
That turn out to be very true by the latest report. What is your take this time with regard to next quarterly results?

Kukuman, why " forget about the results " when it is hard fact published.
Mind to share your reasoning behind? You will do this forum a greater service
by providing your insight rather than merely judgmental remarks such as " pittance" or " disgrace ". Show the readers here a better you, I am sure many
will appreciate you contribution.

Current quarter financial results are good . That is already a good news. A few more quarter of good results will set the stock on positive track. Then we don't have to carry on with this counter on hope alone.

So now for those at the sideline, the issues to consider and digest are the 'dust' created by the previous scandal , the earnings, and huge future potential .Agreed, Kukuman?

Kukuman, thank you for your input derived from different perspective . We are all here to make profit out of our investment, and we certainly want to gather as much insight about our investing target , be they negative or positive.
The scandal, coupled with not so good sets of results have sent the share price down to 0.855 from of high of 1.61 , and the price went further down during the Oct market wide sell down.
Yes, the price has come down, and to a great extent helped by the scandal by one of the directors. The price has been lingering between 0.8 to 1.2 for most part of 2014 .Are you saying that the dust is still not settled? Is the director involved still in the company?
You may have made those negative posting out of your sense of moral obligation, and I do respect you for that. But I do not think investors would jump in the wagon just by reading the story given by those bullish on the company.To think so is to underestimate the wisdom of others.
Having said so I do think the EIA approval if materialised will be a significant piece of development for this counter

it is indeed for long term if the EIA issue is settled. We do not hold the hammer for or against its approval. I certainly do not think Kukuman has it either. Really cannot understand the motive for his postings in this forum. If I see Mr Ben as rubbish as he does, I will not waste my time here.

How significant will the contribution be, mind to share if you have more info, uchitech008 ?

we need long string to catch a very big fish

A look on the prc movement : Mulpha has been trending upwards albeit not at a steep gradient since Sept 2011 with a low of 0.34 , 2 retracements were seen during the slow climb but higher lows were recordrd each time @ 0.365 (Mac 2013)and 0.395(Oct 2013), indicating that risk on the low side is very low now.

On a more positive note, higher hi's were also seen during the period under observation with the first one being @0.5 (Feb 2012), followed by 0.495 (May 2013), and then 0.55 (Aug 2014). Assuming no breakout from the current trend channel, one may expect to see a hi approaching 0.6 in the next upward climb.

The planned road works may be is the catalyst for breakout. One fine day btw now and scheduled completion may see this happens. Then 40+ cents will be a no look back .

Fair, by then the road work connecting Leisure Farm and Linkedua will have been completed . Just wait for the fine day .

Mulpha is an asset play. The price will up when the value of the underlying assets is unlocked. Patience pays.