1st time in history that independent directors sacked executive directors. If that is the case, Protasco no need to have EGM already. The directors of Protasco can work together with another independent directors then sacked another directors. If that is the case, whole listed company in Msia will be in mess. The Independent Directors even as nomination committee, their powers limited to nomination matter because they are not Termination Committee.

Shareholders should ask in next AGM whether after 4 years from Sep 2010 to Jan 2015. Only grow hair and grow greed.

http://online.theedgemalaysia.com/highlights/179341-benalec-targets-regional-growth.html

clearly demonstrate the MD is crazy for power. Is matter of time, this company will ruin.

Benalec sells land at RM28 per sq ft for bigger size of lands no issue and shareholders approve it. Years back selling land also at RM28 but just forgot to disclose and Independent Directors kicked them out.

Leaw Tua Choon and Leaw Ah Chye no need to resign as they only seek shareholders to rectify any non disclosure. If shareholders not approve, just return the money back and then only Company will decide whether to pursue to court or not.

The Independent Directors issued them letter to sack them is an offence because the Independent Directors have no right to sack directors until shareholders approve it. Like Protasco case, can the directors simply sacked another directors? They need to have EGM to seek shareholders to approve it. Otherwise, why we need to seek shareholders on annual AGM on directors' appointment

If Tua Choon and Ah Chye want to seek back damages and sue back Independent Directors for wrongful dismissal, they can do it. Also, at that time, only 1 Executive Directors plus 3 Independent Directors therefore it is demonstrated that the Independent Directors no longer independent and may not acting in the best interest of company, subject to influence & pressure, potential conflict of interest, lack of objectivity.

http://buildconasia.com/industry-news/1368-property-valuer-comes-to-benalec-s-defence/

http://www.st.gov.my/index.php/component/k2/item/15-1000mw-and-2000mw-coal-fired-power-plant-projects.html

The Leaw Tua Choon so generously donated a van during Anniversary of the Malaysian Moral Uplifting Society cum Conference year 2013.

The MD doing marketing. I read also laugh non stop because proven talk cock

http://0-maritime.bernama.com.pulse.petronas.com.my/news.php?id=552955&lang=en

Taciturn... u absolutely too free.
One person's meat is another person's poison
To you may not be offensive but to others yes. Reason I say you are dog of MD is because after your harsh words which i realised not right so i delete it. I sincerely and deeply apologise to you.

@Taciturn... i know my English no good. Refer ur earlier posts. My view based on what i heard from Melaka and markets which may be true and not true. I like Tan Sri Liew where he said my salary based on share performance and dividend but not salary, that's why i no happy

Vin Tan .................. i absolutely respect your words of wisdom. You got the point. I am the one that 1st brought up on highly paid MD in this forum but highest merit goes to the person who brought it up at AGM/EGM.

I am not happy when Taciturn used personal attack. We are here to invest and make money. If not because of this forum and some of us here brought up at AGM/EGM, the highly paid remuneration to MD will be history and next year we will see another package at RM10 million. Reason I am against this is if in case Tanjung Piai kicks off, the profit will be higher and the MD salary may be reached as high as RM20 million (maybe). Now we have brought up to show our dissatisfaction, is good.

Ask Taciturn.... he knew everything

why waste time to report........ i just hope that this company can really transform like last time achieving marvellous profits.

I did not channel my anger but i am sharing what i really heard from people in Melaka & markets and shared it here.

Last time, this Ah Ben is well known in Melaka for generosity and charity. His brothers contribute to charity such as donate van to needy. Years after years, i saw this company started to heading south.

Taciturn ......
I pity your wife and ur families to bear your such attitude. The fact is already there that Ah Ben is using manipulation & deception but you still defending Ah Ben. If you just admit you are followers of MD, we all can accept then. You deceive all of us if you hide your real identity and insist that you are not related to MD. For sake of investors, if you followers of MD, pls stop commenting.

Taciturn.... u like frog in well. When you dont have point but still insist you are still correct, you will shift people attention and using personal attack instead. Give me your name then.

The Government either further delay until Ah Ben gives up and 1MDB takes over project or launch take over directly b4 or after approval.

No approval but take over, rakyat may criticise 1MDB.
B4 approval but take over, rakyat criticise because under pay
After approval and take over, facing possible unable to take over except paying higher price.

Retail shareholders wont able to push share price to such low.

All these cost Ah Ben waiting for 4 years but rumours from markets said Ah Ben so persistent and not willing to give up.

More to come........................... rest P n C.

Statement from Arul, new CEO for 1MDB

"I am pleased to be joining 1MDB at this important juncture. As the company's new president, my first priority will be to undertake a comprehensive strategic review of its operations, whilst ensuring that we derive value from the high quality energy and property assets in the company's portfolio.

- See more at: http://www.themalaysianinsider.com/malaysia/article/1mdb-announces-business-strategic-review-confirms-arul-as-new-chief#sthash.hHSDtPDJ.dpuf

1MDB cannot touch Country Garden but what else projects can generate consistent returns for 20 years with GDV RM24 billion and continue recurring income to the nation?

why share price dropped from RM1.20 to RM0.60? Who pushed the price down? why some shareholders willing to sell below IPO other than KWAP and some institutional investors pull out. After KWAP & institutional investors pull out, why share price continue to fall?

why 1MDB at first place came to work with Ah Ben? what is intention or objective behind it? As time pass, the story seems flow very well and become clearer.

Read the news and get some hints.

In Malaysia presently, what investment can generate good return if not Tanjung Piai and Pengerang? Its 1MDB. What is business relationship between 1MDB with Ah Ben? Did Ah Ben becomes target of 1MDB? Can Ah Ben success without 1MD?

http://www.themalaysianinsider.com/malaysia/article/1mdb-announces-business-strategic-review-confirms-arul-as-new-chief

Based on earlier posts, it is proven that my comments correct. This Taciturn only will compliment Ah Ben without any justification.

Reduced in hectares for Country Garden in exchange for approval of Tanjung Piai but a tycoon MAY launch take over once approval obtain. Good luck to those bought at RM1,00

1st create rumours on approval of concession
2nd share price up
3rd fixed the price of CB.
4th share price start to fall
5th some got con
6th on subscription date for CB, spread rumours again and those kia sue will subscribe the bond
7th Fund raising successful
8th Use money from bond to pay another RM 6million as salary for MD
9th Explain to shareholders that the salary already lower if compare to last year
10th Shareholders hoo haa again
11th the MD smile for shareholders stupidity

Vin Han .... insider trading then is unfair to all of us here. That's why i am anger how come certain person possess insider information. I wonder how come Ah Ben allows their employees doing it

@Kukuman .... very obvious already that this Taciturn will side Ah Ben no matter how. Asked him for name of employee, he/she will shift our attention to others things.

Post removed.Why?

Taciturn .... to prove your innocent, pls tell us name of employee or position who confirmed this news to you else it seems u r employee or simply said you have called. In the past, you never answered my questions specifically and just said boring, tired and etc so not intend to answer my questions.

If you cannot tell us name of employee, it showed you are protecting the employee because you connected to them / him / her or you in fact employee or cheap dog barking for Ah Ben.

I strongly against you Taciturn because it seems no matter how, you always defend Ah Ben even high remuneration of MD. Sounds fishy on your relation with Ah Ben.

Waaa.... Taciturn.... u so powerful and well connected with Ah Ben. By virtual of calling, you can get information or it means Ah Ben run by idiots. Ah Ben needs to confirm whether you from media or minority shareholders. Also, need to confirm your name so that they can check whether are you the shareholders. May I know who you called and confirmed this to you? This is breach of insider dealing because Ah Ben needs to make public announcement to clear news reported by Bernama because this news did not reflect actual status.

Stop lying Taciturn. Either you are working for Ah Ben or follower of MD. Else, dog, cat, bull, cow make call and Ah Ben busy answering them.

Caught red handed Taciturn. Wonder you so confident on Ah Ben which in fact you tried to deceive shareholders here on your thought.

It seems clearly that this Taciturn working for Ah Ben or follower of this MD. Tomorrow, the share price will normalize because no approval yet.

i wont stop anyone who believe approval obtained anyway and buy now

No approval....... Najib busy with Kelantan & flood. No time for this (insider source). Make sure is real approval from right person

Nola... the Bernama misinterpret Affin Research Report.

the MD secretly buy back scare people take over his company.

This taciturn really from MD CIA or investor relation of Ah Ben. So free to write so long to defend this conman company.

Wish to ask. what if Q1 2015 yet to get approval? I dont think the brothers were forced to resign but the directors so sad to see his youngest brother crazy of powers. Come one la.... you think MD, Independent Directors and Management are not aware at 1st place?

So how you get all info Taciturn? Did you know that if you call them, talk to MD and etc, they cannot reveal because it is deemed insider dealing. I am not accusing you but i am asking whether did Ah Ben told you information that not all shareholders knew? If yes, then Ah Ben is committing insider dealings because meeting shareholders behind scene and you Taciturn said the MD told you something that you do not want to reveal. Why not reveal? Because you deem it sensitive therefore sensitive = deemed insider dealing.

When u asked people to grow up, it means you are kids because so you cant see people's frustration and point of view. You view people thought as kids and thinking ur view is absolutely correct.

Comeone la..... the EIA already coming 4 years. In fact, u the one who need to mature.

@taciturn ..... bro... not intend to spoil your mood. I just showed u the link as u requested. I am not against you but on the MD. I from Melaka and i heard that the MD aware on RPT. You think the management and independent executive directors unaware? They are professional people. If they cannot detect, then they are others listed companies Independent Directors too?

I am sorry Taciturn. I thought you are send by the MD to defend him.

@taciturn .... i pity you deeply because you got con by them. If they told you because MD needs to settle siblings rivalry so high paid but earlier the MD said no siblings rivalry. PLS WAKE UP......

Later the MD will look for you again and tell you "you got punk'd"

If u want to know more, lets see my friend get the job there not. Once get, i will ask him.

U cant see contradicting? earlier post said no tussle and the MD's ball mengembang said it bravery as below:-

SHAH ALAM (Dec 30, 2013): Benalec Holdings Bhd managing director Datuk Vincent Leaw Seng Hai (pix), who has increased his stake in the land reclamation company on Christmas Eve denied that there is a boardroom tussle between him and his elder brothers (http://www.thesundaily.my/news/916586)

After shareholders asked on his MD remuneration, his ball kecut and tried to find lame excuses and said need to settle board room tussle so getting RM8 million.

I agree with @Kukuman..... this MD is king of spinner !!!!! Each statements contradicting. What he said you need to interpret opposite. If he said approval on Q1 2015, it means not Q1'2015.

From Bursa announcement, the tussle begin on 28 October 2013 and resolved on June 2014 (date of EGM). 9 months paying roughly RM6 million? Based on performance? from when to when? So, the high remuneration is because of settling tussle or good performance in the past? Seems they not telling shareholders whole story & making us guessing.

@taciturn

1. Proof that the MD insisted no siblings rivalry http://www.thesundaily.my/news/916586. If you clicked the link, you not only read the news but you can see the King of Conman Face there too.

2. You have been told "The middle brother still retains a stake through their family holding firm, I've been told the reasons why he wasn't bought out, but I'm not going to put it up here. For me, said reasons were reasonably credible." By who? Did you know that by virtue of what you said, you can be caught under insider dealing. If it was the company which told you, the company in trouble because disseminate information unfairly.

if necessary, i will write in to 1MDB to seek clarification.

@taciturn ... i dont meant you. You did a great job and service. Keep it up. I meant pooket except otherwise u r same person.

Frankly it is important for us to discuss this forum to point out any areas for us to discuss. To be frank, if we really analyse, i really wonder why their relative by name of Poo Lin Foo disposed his/her shareholdings from substantial shareholders to nil. I wonder he/she aware of RPT or reluctant to involve in brothers' struggle and why MD insisted that there is no misunderstanding withing brothers.

I really confused because words from Ah Ben really contradicting. Is it 1MDB will further delay even EIA approves later? Frankly, I think they lack of transparent causing shareholders guessing.

1MDB suggested to delay in commencing works. So, its 1MDB faults or Ah Ben's faults in delaying EIA?

http://www.nst.com.my/node/65123

@pooket ..... i think you think you are dictator who not willing the truth to be revealed such as highly paid remuneration to the MD Leaw Seng Hai. Mind your language, it is right of every shareholders to express our view.I think you are the MD or employed by MD to express view here on behalf. We will keep quiet if the MD pushed the share price up to RM1 at IPO price and stop paying beggar dividend at 3 cents.

Only those who willing to be cheated will buy this company shares and subscribe the bond. If you read the annual report, their own relative by name of Polin Foo who disposed his/her shares to nil. Maybe she knew something inside on corporate governance issues especially on the RPT land deals and disposed it on asap basis.

@kenix .... careful because once approval obtain, maybe a tycoon from Malaysia will launch take over or Country Garden works with VVIP to buy over this company at RM0.60....

The only way to know more is to work for this company. My friend told me got open vacancy and just apply. Let my friend see see what inside the durian.

The Leaw holding 47% and surely through proxy, they may hold more than that. This Leaw voted for and what we can do? The only want to send our strong signal is to make the bond raising failed miserably so that the directors can realise and look into it. Beside, if bond raising failed, the directors will reconsider to reissue it at higher rate maybe 5%.

dropped again and again..... useless

No of shares in markets = 800 million x 51% x RM0.60 = RM250m can buy over this company and sell Johor projects worth RM16 billion to others at RM2 billion.

Wonder the Royal family will launch take over later after all approvals obtained. Instead sharing 30%, now can share 100% of profits. Better........................................

Can buy now.... later once approvals obtained, sure some tycoons will launch take over.

Anyone who got RM300 million can take over this Company and have share on billions ringgit projects

Benalec Holding MD remuneration is paid RM8million. But the total dividend to be paid to all shareholders’ is only RM2.4m. This is ridiculous !!!!!!

Directors’ Remuneration of Benalec Holding VS Tambun Indah Land Berhad.

Benalec Holding Directors’ Remuneration.
From 2014 annual report. They boast that BENALEC management has been very transparent about it.
No. of Directors - 6
RM250,000 to RM300,000 - 1 Non-Executive Director
RM300,001 to RM350,000 - 2 Non-Executive Directors
RM350,001 to RM400,000 - 1 Executive Director
RM400,001 to RM450,000 - 1 Executive Director
RM7,500,001 to RM8,000,000 -1 Executive Director

Tambun Indah Land Berhad Directors’ Remuneration.
The number of Directors whose total annual remuneration falls within the following bands is as follows:-
No. of Directors - 8
RM1 to RM50,000 - 5 Non-Executive Directors
RM300,001 to RM350,000 - 1 Executive Director
RM550,000 to RM700,000 - 1 Executive Director
RM1,100,000 to RM1,150,000 - 1 Executive Director

Listen to the Business Radio Station My FM 89.9 to hear how they comments the higher paid of Benalec Holding RM8million to MD remuneration.