The Board of Directors of the Company wishes to announce that Benalec and Benalec Sdn. Bhd. (“BSB”) and Strategic Land Sdn. Bhd. (“SLSB”), a wholly-owned subsidiary of BSB, which in turn is a wholly-owned subsidiary of Benalec (“the Plaintiffs”) had commenced a civil suit in the Kuala Lumpur High Court on the 6 November 2013 vide Civil Suit No. 22NCVC-610-11/2013 against Datuk Leaw Tua Choon, Datuk Leaw Ah Chye, Leaw Yongene, Sunshine 2000 Sdn Bhd, Seaside Synergy Sdn Bhd, Su Seong Lin, Low Kim Yeok and Pong Kim Siew for inter alia loss and damage as well as an account for secret profits arising from the sale of certain lands to Sunshine 2000 Sdn. Bhd. and Seaside Synergy Sdn. Bhd. (“the said Lands”) and as against Datuk Leaw Tua Choon and Datuk Leaw Ah Chye, for loss and damage and an account of all secret profits, arising from the breach of their contractual, statutory, fiduciary and/or common law duties and/or obligations as Executive Directors of the Plaintiffs in respect of the said Lands.
If you would go with me to study Harison past A/cs, then you will understand.
Listen Carefully Everyone. When we first bought Harison at RM1.40 we were also puzzled why Harison has wide interest in food and material distribution. Sales were good. But why so little cash profit.
Then The Real Sifu, he is here (Net worth RM30 Millions) watching us. He is Lawrence Tan. He pointed out that Harison does the donkey jobs of distributing goods into the interior of Sabah & Sarawak. Very tedious, costly and little profit, initially.
Harison trot on and on before Barisan National opens up the interiors. As the people became more richer due to oil palm, cocoa & other plantation business bloomed, Harison sales also increased. So Harison became very profitable. So price doubled from RM1.40 to RM3.04 Now.
Same for DKSH. In 2006 DKSH was below 40 cents. They were doing the same stuff like Harison but in greater quantities and wider range. I bought DKSH at 42 cents but sold too early. Stupid me, DKSH is now RM6.45. I sold for only few cents profit, then.
brothers argue always happen in family but after sometime they will forget y last time argue and sit down for the dinner. but who try to solve their argument latest will become their enemy. or scarified in this war. hope benalec will soonest rain after the sunshine.
Benalec: Calls for EGM to remove former executives from board. Two independent directors of Benalec Holdings want Datuk Leaw Tua Choon and Datuk Leaw Ah Chye to be removed from the board.
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MATERIAL LITIGATION Benalec Holdings Berhad (“Benalec” or “the Company”) Writ of Summon and Statement of Claim against Datuk Leaw Tua Choon, Datuk Leaw Ah Chye, Leaw Yongene and Citypoint Engineering Sdn. Bhd.
The drop in the share price is nothing to do with the litigation and removal of the directors. I note that Wall Street also suffered set back because the Fed Government may pull back the stimulus causing market concerns. The fundamental is still intact.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Benalec
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Posted by Benalec > 2013-11-18 18:49 | Report Abuse
The Board of Directors of the Company wishes to announce that Benalec and Benalec Sdn. Bhd. (“BSB”) and Strategic Land Sdn. Bhd. (“SLSB”), a wholly-owned subsidiary of BSB, which in turn is a wholly-owned subsidiary of Benalec (“the Plaintiffs”) had commenced a civil suit in the Kuala Lumpur High Court on the 6 November 2013 vide Civil Suit No. 22NCVC-610-11/2013 against Datuk Leaw Tua Choon, Datuk Leaw Ah Chye, Leaw Yongene, Sunshine 2000 Sdn Bhd, Seaside Synergy Sdn Bhd, Su Seong Lin, Low Kim Yeok and Pong Kim Siew for inter alia loss and damage as well as an account for secret profits arising from the sale of certain lands to Sunshine 2000 Sdn. Bhd. and Seaside Synergy Sdn. Bhd. (“the said Lands”) and as against Datuk Leaw Tua Choon and Datuk Leaw Ah Chye, for loss and damage and an account of all secret profits, arising from the breach of their contractual, statutory, fiduciary and/or common law duties and/or obligations as Executive Directors of the Plaintiffs in respect of the said Lands.
This announcement is dated 18 November 2013.