Post removed.Why?

rich, In a way it is good to have people like kukuman around because people like him can be used as the benchmark for measuring all that is ugly and perverted in the human race!

I meant latter group. Typo!!

One other point, the big difference between the amateur soothsayers predicting doom and gloom on this forum and the successful entrepreneurs who can make things happen is the letter group of people know what they are talking about! Take a cue from that.

splendid_ignorance, I entirely agree with you and have nothing but empathy with taciturn, who is having to engage in a fruitless squabble with some chronic and mindless idiots. My sincere suggestion to taciturn is to ignore those idiots and focus on his personal investment strategy.Just as some psychopath on this forum has been persistently tracking the apparent downward price trend of Benalec, the real significance of the recent price movement has been lost in the maze of the data posted. I would like to highlight to the sane members of this forum that between 16 Dec 2014 up until now, i.e. a period of 45 days, Benalec's share price has appreciated by a significant 50.5%.

whowhere and all those cynics out there, do yourselves a favour and keep your eyes and ears open for an event which (according to my reliable source) will take place TODAY!!!

I just gathered from a reliable source that the DOE has approved Benalec's EIA application. Will share further info when available.

Where, why are you holding taciturn "responsible" for the EIA announcement? This matter is under the jurisdiction of the DOE, don't you understand? Btw, if Boon Siew has the experience or expertise for reclaiming land, then they certainly will be doing it themselves. FYI, the land on which they are constructing a medical centre was reclaimed by Benalec. Go and check it out instead of merely "believing".

Kukuman, In this world everything is negotiable, if only you know how. It also depends on circumstances, but why am I wasting time responding to idiots!

Vin Tan, thanks for welcoming me. You sound like one of the more rational members of the forum. It's the rational and fair-minded people on this forum who will help to ensure that sanity prevails.

Kukuman, as per usual, you are a monumental pain in everybody's southern region. What I meant was that all contractors would normally have to incur costs and expenses upfront before being able to submit a claim for payment. You don't have to spend decades in the property and construction industries to know that. Now, do everyone a favour, piss off!

Actually, given the turmoil faced by Benalec in the first half of the 2014 financial year, to even report any profit at all would be no mean feat. We, the by-standers can pass judgment flippantly but if you were to be involved in dealing with issues of the magnitude that the Company had to address and resolve, you would certainly take a very different view. I say this because I have been involved in a similar situation elsewhere before.

where, the profit reported in the financial year to June 2014 was, according to the AR, adjusted for a massive impairment writer-down of the PPE amounting to RM16.2 million. The profit included only a small percentage of the total profit yet to be reported because of the accounting treatment applicable to the construction industry. So "small profit" is a relative measure. By the same token, you can't underpay competent employees because they will just pack up and leave for the next job.

Where, from what I understand the Boon Siew contract is a cash contract and there is no payment in kind. If you know anything about the construction industry, payment upfront is the norm and not the exception. So, what is different in this case?

Hi, good day everybody. I've been following comments on this blog with interest from the sidelines and feel that it's about time I throw in my 2 cents' worth.

Without specifically mentioning names, I have to say that what is very clear is that some of the comments posted on this forum are illogical, irrational and oftentimes irresponsible. I guess that people can make such comments with impunity on a blog such as this.

Of late, there have been some outrageous comments about the MD's remuneration on this forum. Those making the most noise most probably did not attend last month's AGM, during which the issue was explained by the Board to the apparent satisfaction of the shareholders who were in attendance. Indeed, all 7 resolutions, including the one on the MD's remuneration, were carried with 98% majority or more. I know that because I took the trouble to attend the AGM.
Subsequent to the meeting I managed to obtain from a close associate an analysis of EDs' remuneration across 7 companies operating in the Construction sector. The 7 companies covered in the analysis are Muhibbah, Mudjaya, Matrix, AQRS, Eversendai, HSL and Kimlun Corp. The average remuneration of an ED, as per the analysis, is RM5.2 million. This average is about RM2.5 million below that paid to Benalec's MD. However, to obtain a more complete picture, reference has to be made to the compensation paid to the management and staff supporting the EDs' function. Taking this into account, the average remuneration paid to directors and senior management staff is RM77 million across the 7 companies. By contrast, the amount paid in the case of Benalec is a mere RM19 million. Last, but not least, it is common knowledge that Benalec's MD did very well to arrest the damage done by his siblings and also managed to bring in new business worth in excess of RM450 million in the last 7 months of Benalec's financial year.