National Financial management requires the greatest discipline. Malaysia has a scandalous records of such discipline and this is one of the main causes of our problem now.

taciturn: I am of the view that the worst is behind as far as Benalec is concerned. Just hold tight and be patient and you will have the last laugh. Btw, I added on more shares on this counter after attending the AGM and I am quite happy with what I have done.

There is a short note in Kenanga's research note for 2day that Benalec has been given permission to start work at Tg Piai on 31 December but cannot find similar announcement in the Bursa's web site for 31 Dec or today yet. Can anyone confirm.

the us$ loan must be related to its investment in china.

I was at the AGM. I can confirm that all taciturn's posts about the AGM are accurate. In fact he was sitting in the front row throughout the meeting, not at a table in the dining table waiting fore lunch to be served.

the lowest share price is zero but if one trades on a margin account, he can lose more than zero.

..... and the not so intelligent ones are full of courage.

there are many law suits. do not see how they can be settled any time soon. expect them to take years. meanwhile, sc has yet to act. in Stanley tai's case, it took them some 6 years to start prosecute him.

i believe in the next round of valuation, values of some property may have to written down in view of the softer property market, more so for office buildings. this will reduced the asset value of those reits with mostly office buildings.

I believe quoted investments are stated at cost. If current market value is still higher than cost, there is no need to provide for impairment loss.

Smax is well established glove makers and the business will carry on even if ST is not at the helm. If he is not available to do that for a short time, there should be not major adverse impact. What happened at TA Ent is a guide.

It might have taken a few years for his prediction to come true but it did come true. I suppose a prediction like this will come true one day, afterall a dead clock still tells the right time, twice a day!

Now no one can argue that TTB did not tell you market would collapse!

Furthermore, the charge relates to transaction going back to 2007 to 2010!

The charge is not related to Supermax shares. It is about selling APL shares.

i believe germany also has it.

Yes. petrol chemical raw materials should be much cheaper now and cheaper ringgit should benefit tguan.

Popularity of chinese school (cs) is the product of our failed education policy. the generally low standards of the national schools and lack of importance being given to english as a subject is driving more and more parents, including malays, sending their children to cs. it is an undisputable fact the malay student population in cs is increasing year by year. why blame the chinese for sending their children to cs when other races are doing that?

both my 2 children went to cs for their primary education and national school for their secondary. they have absolutely no problem speaking, reading and writing in malay. so what's the problem.

share buy back will reduce fund's assets and reduce his fees.

1 director is paid between RM7.5m to RM8m. The total dividend to be paid to all shareholders is about RM2.5m. This is absurd!

in the case of benalec, reclaimed land is more like a product made to be sold, not fixed assets.

The fall over the last few sessions may be due to speculation over projects one of which is near Singapore and the other the petroleum hub. The first one may be reduced in size in the light of Singapore's objection. The 2nd one may be delayed as Petronas has announced a capex cut for next year. They should not affect Benalec in 2015 and 2016.

Protasco's businesses are generally doing well. The road maintenance and property development businesses are locked in for a few years. therefore the fallout from tpy and oka saga will be minimal in the medium term.

TTB, being the paid fund manager, should not sit on the board of Icap. The board should supervise him, check and question his performance. Now he seems to be in control of the board and that's totally wrong. This is a situation where interests are in conflict. Icap should have the freedom to change fund manager if he has not performed well enough, regardless how loud he shouts. He should also not behave like the Icap owes him a living. As a last resort, the shareholders should dissolve the fund and distribute its assets since it is worth more dead than alive.

In granting the injunction ex-parte less than 24 hours before the meeting amounts to making a mockery of justice. By depriving the legitimate right of certain shareholders to vote at a properly convened general meeting, the judge has made himself a voter! The judge should have questioned the motives of seeking an ex-parte injunction at the last possible minute when that injunction could have been sought many days earlier, and examined the effects that injunction would cause to a large body of shareholders.

Is TTB a director of icap? If he is, is that not a situation of conflict of interest since he is being paid, handsomely at that, in a professional capacity but at that same time he is in control of every aspect of icap, apparently including selection/appointment of directors.

TTB has been running icap for too long. Its time to change the fund manager. If that is not possible, then shareholders should take step to dissolve the fund. I hope there is no golden parachute for him if the fund is dissolved.

Due to lack of tenants, some middle upper class are let out to foreign workers and this will become big problem for the condo market.

It has been subjected to quite heavy selling pressure recently.What is the support level for this counter.

TPY is geared to the tilt for his investment in various companies. The battle for his directorship in Protasco is actually secondary. The real fight is about what he is alleged to have done. If he is charged and found guilty, the share prices of the quoted companies he now controls will fall like hailstorm and in turn his financiers may sell the pledged shares at a huge loss. This may even trigger another market-wide collapse like that of Tan Koon Swan's era. So do not under-estimate the fallout.

If a fund manager says that there is no stock worth investing in, then the only logical thing to do is the dissolve the fund the return the money to the shareholders.

Expect all the reits to write down their asset value in the coming quarters in view of the softening property market.

No reason for a reit to take so long to release its quarterly results. Its either very good or very bad.

Some of the restrictions are self imposed and they can be amended. TTB did say that the fund's focus was on capital appreciation as practised in the more advanced markets. But this is Malaysia and the Malaysian mentality must be taken into account. fong7 has made a good point and that's investors' relations; paying dividend is in a way good investors relation practice!

One of the reasons for the large discount is that local investors like to see return periodically in the form of dividend. If Icap can pay dividend twice a year to provide a yield close to fd interest rate the share price should improve and the gap narrowed.

Ckffeng : I am in a similar situation as you are in. Although have disposed most of shares bought a few year ago, still keeping a small position and observe. Quite frankly, Chong has been dumb in parting with such a large sum without full knowledge of the background of the counter party.

Wannabeinvestor : fully agree with what you suggest.

tpy is disposing because either he is buying more Protasco shares or to meet margin call.

Vote out all the 3.

BN govt will just collapse if it does not hand out.

Tony Pua is the messenger. He delivers the truth. Why shoot him. Any one who condemns him is either narrow minded or a half wit, or both. Politics is everything in the modern life.

Presently the 2 camps are throwing accusations against each other. There are denials and explanations and the minority shareholders are unable to determine which camp is telling the truth. So the best course of action for the m s is to vote out TPY and Ooi at EGM on 26th Nov. and vote out Chong on 28th Nov EGM. The board without these 3 persons should appoint a committee to manage the company and also appoint forensic auditors to investigate how and why the company got involved with the what so called oil & gas saga.

I think it is a combination of greed, ignorance and a kiasu mentality that shape the culture and behaviour of most of the "investors".

By the look of it, there is a battle for control going on. About 800k change hands at 1.71 and 1.70. this morning. It may not boil down to who is right but who has the resources to buy more to outvote the other.

potong : my earlier comments are based on the news report. My stand is that those who have allegations hurled openly against them should answer and those who made illegal gains must pay back and face full force of the law, regardless who they are. I have shares in this company and I want my investment to be protected from vultures.

Some observations from the newspaper reports on the press con given by tpy :
1) No mention was made by tpy at the press con of the allegations of receiving secret commission made in the action by Ptsco against him although he had denied them earlier on.
2) KSV's action is also for and on behalf of Ptsco but the among the defendants is Ptsco ! In a way, it is Ptsco suing Ptsco.
3) Some serious allegations of misconduct have been made by both sides. There is a criminal element in the misconduct but both parties had not made any police report.

It seems that there is a bunch of vultures feeding on the company.

A small cap co undertaking a hydro power project appears to be mismatch as any hydro power project needs heavy investment up front.

Its getting very interesting and also ugly. Expect more defamation suits.

in other words, be sincere and civilised your postings !

Te defence papers filed by the 3 defendants in court should be available as they are not privileged docs. Can anyone get them and put them up in this forum for information of shareholders?

The battle to gain control of the board may just have started judging from the price movements of late.