Posted by miketyu > 2013-10-30 20:58 | Report Abuse

and proposed 10% share buyback. This is yet to be determined in the coming AGM. if this is to happen, expect the price to soar

Posted by necro > 2013-10-30 22:57 | Report Abuse

The Board of Directors of the Company wishes to announce that a Notice pursuant to Section 218 of the Companies Act, 1965 dated 29 October 2013 has been served on Benalec Diversity Sdn. Bhd. (“BDSB”) (formally known as Arus Kreatif Sdn. Bhd.), a wholly-owned subsidiary of Benalec Sdn. Bhd., which in turn is a wholly-owned subsidiary of Benalec, on 29 October 2013 by Sheng Lee Law Office, Advocates & Solicitors acting for KTG Marine (M) Sdn. Bhd., demanding for the payment of RM8,447,916.11 as at 10 July 2013 for the alleged works done for the proposed coastal reclamation works in Melaka, including but not limited to the extraction of sea sand, loading, transporting and unloading sea sand at designated stockpile area.

BDSB is given twenty-one (21) days from the receipt of this Notice i.e. 29 October 2013 to settle the said outstanding amount, failing which, winding up proceedings will be taken against BDSB. The Company is seeking legal advice and will take the appropriate course of action including defending the claim against BDSB, if necessary.

Further announcement on the developments of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 30 October 2013.

Posted by matrix109 > 2013-10-31 09:14 | Report Abuse

No investor is interested in their Oil and Gas Terminal in Melaka. No takers.

Posted by lwalk > 2013-10-31 12:31 | Report Abuse

proposed div + proposed buy back. good enough

Posted by bigFAT > 2013-11-01 01:27 | Report Abuse

demanding for the payment of RM8,447,916.11 as at 10 July 2013 for the alleged works done? so the brothers have songlap the money through their subsidiaries...so the rumor is true indeed..kong kali kong

Posted by matrix109 > 2013-11-01 08:22 | Report Abuse

Their share will drop below 70 cents.

Posted by ijanto > 2013-11-01 08:26 | Report Abuse

i thought that is why their share is stuck at 1.1+.. now since every know already..time to fly.. hehe

Posted by jlschen > 2013-11-01 11:16 | Report Abuse

So the price will drop or fly???

Posted by Helena > 2013-11-01 14:53 | Report Abuse

i believe the price will stay this way until end of the year ~

Posted by cathyee > 2013-11-01 15:35 | Report Abuse

happy when looking at the target price that will hit up to Rm2.++ since now no hope already. ^-……

Posted by Helena > 2013-11-01 16:25 | Report Abuse

hahaha consider it as FD with 1.5% interest for me who bought it at higher price

Posted by allan88 > 2013-11-03 14:55 | Report Abuse

Observing the frequent land sales, lower div payout, is it a sign of preparing the working capital for the tanjong piai work? Which will be announcedsoon.

Posted by anbz > 2013-11-04 01:11 | Report Abuse

nope...the brothers have stole the money

Posted by yeketou > 2013-11-04 01:20 | Report Abuse

anbz, for the first time I like your post.LOL

Posted by scenic > 2013-11-06 09:24 | Report Abuse

how's this counter ? any chance of it going north ? thanks.

Posted by Helena > 2013-11-06 13:13 | Report Abuse

with the current development of the company, the chances to go north right now is quite unlikely ~
unless you want to buy on weakness and wait ... n wait .... n wait

Posted by lwalk > 2013-11-06 19:39 | Report Abuse

faster get rid of the directors. settle the mess. and move up the price yo

Posted by oasischeah > 2013-11-06 20:59 | Report Abuse

Yes. Get RID of the 2 scam directors or do something to brighten your company. Mr MD Benalec - Please wake up the company and get the public to support you again.

Posted by papa > 2013-11-06 23:35 | Report Abuse

It's that possible push up to 1.50? Hahaha. Seat and wait la!

Posted by Helena > 2013-11-07 13:16 | Report Abuse

Mr MD Benalec is the brother of the 2 scam directors le ~~

Posted by Benalec > 2013-11-07 13:37 | Report Abuse

oasischeah Your comments noted. Mr. Benalec will be strong again.

Posted by messi > 2013-11-07 13:39 | Report Abuse

Stay away for now until the internal squabbling is resolved. Could this turn out to be another Kian Joo, entangled in legal tussle ?

Posted by Benalec > 2013-11-07 13:46 | Report Abuse

Dear messi. No way. The fundamental still intact as long not in the hand of these two directors. Latest land sale is RM40 per sq ft but selling to directors at RM28. These 2 directors already pocket RM42 million for themselves.

Posted by Benalec > 2013-11-07 13:50 | Report Abuse

Dear Messi. This is not internal squabbling but actions by directors who not complying to laws and regulations. Therefore rest assured. Please continue to support Mr. Benalec.

Posted by oasischeah > 2013-11-07 18:59 | Report Abuse

Yes. Actions of directors who does not comply to laws and regulations has caused the downfall and trust in Benalec. Why can't the Board of directors make effort to recover the lost amount or report to authorites and sue the scam directors

Posted by messi > 2013-11-07 21:59 | Report Abuse

The 3 brothers are holding 53% stake in Benalec thru Oceancove Sdn Bhd. Is it that simple to get rid of the 2 Executive Directors who are also major shareholders. How can the land disposal goes through without Board's approval ? Many things untold ?

Posted by oasischeah > 2013-11-08 07:51 | Report Abuse

Maybe the 3 Brothers has a hidden conspiracy in this deal.

Posted by Helena > 2013-11-08 11:00 | Report Abuse

thats the reason why Ben from 1.59 dropped till now, because the director profit own land sales by buying cheaper lands from Benalec

Posted by anbz > 2013-11-08 12:52 | Report Abuse

watch under 90 cents....then enter

Posted by anbz > 2013-11-08 12:53 | Report Abuse

foolin has been fooling around by sellin

Posted by jenabchen123 > 2013-11-08 13:30 | Report Abuse

I saw some words like steal, conspiracy, non compliance etc here. Is the offense serious and punishable with jail?

Posted by Benalec > 2013-11-08 14:59 | Report Abuse

Please call to Benalec and ask the MD Dato Vincent Leaw Seng Hai or can interviewing Datuk Leaw Tua Choon or Datuk Leaw Ah Chye for their comments.

Posted by sephiroth > 2013-11-08 15:01 | Report Abuse

u r the most appropriate person to call them since u r benalec

Posted by wcl1988 > 2013-11-08 15:02 | Report Abuse

lol....@sephiroth

Posted by Benalec > 2013-11-08 15:09 | Report Abuse

Wait for the circular to be despatched in due course.

Posted by oasischeah > 2013-11-08 16:29 | Report Abuse

sephiroth . You are right to suggest to "benalec" being the most appropriate person to call.

Posted by Benalec > 2013-11-08 17:58 | Report Abuse

Patient. Everything will be reveal when circular being despatched and at the EGM. You all can ask any questions.

Posted by Benalec > 2013-11-08 18:34 | Report Abuse

Don't worry. After big rain, the next day will be sunny day.

Posted by tsurukame > 2013-11-08 20:13 | Report Abuse

Yes ..after the big rain there shall be darkness...and thereafter big wind to flush out all the DIRT and cleanse all the DIRT before it can get into sunny state again..

There are basically two types of shareholder owners running any public listed company as I see it..

Take for instance Category A company where the owner possess strategic vision, drives a fundamentally sound business in a very professional manner which eventually drives up the earnings, drives UP the EPS and eventually the share price will reflect the business enterprise value and Increase the net worth of the owner. Every shareholder including the minorities will realize share appreciation over time and everyone feels better off.

There is another type of shareholder owners say Category B company where the owner shareholders engaged in unethical business practices that does not add value to the company's business ..they seem to think that unethical business transaction can be made a secret where nobody will know...OMG What utter naivety!!

The unethical business transaction involving certain shareholder owners will work towards driving down the value of the share price, the company image is impaired and consequently the net worth of the major owners also diminishes and the minority shareholders are also worse off as although the basic fundamental of the business is very good but the unethical practises of the major shareholders had destroyed the value of the share price. Unfortunately the company B major shareholders owners are very short term minded and does not appreciate professional business ethics coupled with passionate zeal backed by sheer hard work over time can indeed result in positive appreciation of the Company B share price

Somehow Benalec owner shareholders had worked extremely hard to qualify the company under Category B to the detriment of themselves plus the minority shareholders... If they had worked hard towards Category A company status, the net worth of the majority shareholders will be much more compared to now...minority shareholders will be feeling good as well...

Posted by JENNY6888 > 2013-11-08 22:27 | Report Abuse

2独立董事要求开特大 宏洋控股2董事遭罢黜
财经新闻 财经 2013-11-08 11:02
http://www.nanyang.com/node/577308?tid=462

Posted by JinLinTao > 2013-11-09 00:49 | Report Abuse

don't waste time

Posted by oasischeah > 2013-11-09 09:24 | Report Abuse

http://www.nanyang.com/node/577308?tid=462 - translated to English.
(Kuala Lumpur, 7 hearing) Wang Yang Holdings (BENALEC, 5190, board construction stocks) two independent directors to seek to convene an extraordinary general meeting, ousted former Executive Director Dato Dato Liao Liao Dachun and AFG's directorship, but did not clarify why.

Wang Yang Holdings announced in October, the Executive Director Liao Dachun and Liao Asian financial service contracts violated regulations, thus terminating two contracts. They are also major shareholders, while maintaining the position of director, will not have administrative duties or powers.
Grand Oceans Holdings Wednesday filing to Bursa Malaysia, two independent directors received two independent non-executive directors - Ancient Hongguan and Huang Yuyan (both transliteration) requirements, convening large, deposed Liaoda Chun Liao Asian financial director positions.

The company noted that the Ministry of directors held a special meeting on the morning of the conference, held at the appropriate time through the large, ousted two directorships motion.
Liaoda Chun Wang and Liu Asia Pacific Holdings fiscal is managing director Liaocheng Hai's brother.
Three brothers and character Lam (transliteration), through private companies Oceancove, jointly held by Wang Yang Holdings 53.21% stake.

Posted by wcl1988 > 2013-11-13 09:22 | Report Abuse

KWAP very quiet recently.

Posted by Benalec > 2013-11-13 14:03 | Report Abuse

KWAP quiet may indicate they remain neutral and supportive to Benalec.

Posted by Benalec > 2013-11-13 14:11 | Report Abuse

Share buy back may not boost the share price. Share buy back is a mechanism of price stabalisation. For dividend, Benalec may consider to remain constant dividend pay out at reasonable return to reward the shareholders especially the funds manager until full realisation and optimisation of lands disposal and sufficient internal cash to finance projects in pipe line.

Posted by investor2012 > 2013-11-13 15:48 | Report Abuse

looks like terjun. Any good sign for this share. seems like a good time to buy

Posted by tigerroar > 2013-11-14 16:12 | Report Abuse

Look like many construction stocks are dropping...

Posted by faralenz77 > 2013-11-15 10:20 | Report Abuse

Ben has never show the characteristic of a good investment stock.

Posted by iwan1991 > 2013-11-15 18:53 | Report Abuse

slowly collect some.. ^^

Posted by Benalec > 2013-11-18 18:49 | Report Abuse

The Board of Directors of the Company (“the Board”) wishes to announce that the Company and Benalec Diversity Sdn. Bhd. (“BDSB”), a wholly-owned subsidiary of Benalec Sdn. Bhd. (“BSB”), which in turn is a wholly-owned subsidiary of Benalec (“the Plaintiffs”) commenced a civil suit in the Kuala Lumpur High Court on the 6 November 2013 vide Civil Suit No. 22NCVC-614-11/2013 against Datuk Leaw Tua Choon, Datuk Leaw Ah Chye, Leaw Yongene and Citypoint Engineering Sdn. Bhd. for inter alia, a declaration that the Letter of Award dated 16 May 2012 between BDSB and Citypoint Engineering Sdn. Bhd. was void ab initio and/or for loss and damage as well as for an account of secret profits arising from the breach on the part of Datuk Leaw Tua Choon and Datuk Leaw Ah Chye of their contractual, statutory, fiduciary and/or common law duties and/or obligations as Executive Directors of the Plaintiffs in respect of certain dealings concerning Citypoint Engineering Sdn. Bhd.