if tomoro no support...then it is going to fall again...from 1.24 to 1.00 sure need much money to top up for margin player n short term trader also want to cut loss...hope it doesnt happen..watch
i believe these are all about family feuds that this MD want to take over the whole company and create a allegation as an excuse to screw the whole company by sacking his own brothers out so that he can resume full power. real stupid decision. lose big already la!
The Board of Directors of the Company wishes to announce that a Notice pursuant to Section 218(2)(a) of the Companies Act, 1965 dated 18 November 2013 (“Notice of Demand”) has been served on BDSB, a wholly-owned subsidiary of Benalec Sdn. Bhd., which in turn is a wholly-owned subsidiary of Benalec, on 19 November 2013 by Messrs. Chin Yeow Chong & Co., Advocates & Solicitors acting for CESB, demanding payment of RM18,804,281.86 (“Claim”) being costs of services rendered for the proposed coastal reclamation works in Melaka.
Citypoint Engineering Sdn. Bhd. (“CESB”) served Notice Of Demand on Benalec Diversity Sdn. Bhd. (“BDSB”), a wholly-owned subsidiary of Benalec Sdn. Bhd., which in turn is a wholly-owned subsidiary of Benalec.
Posted by anbz > Oct 9, 2013 11:58 PM | Report Abuse X
someone has stole hundred millions deals from benalec...and also stole RM40m fr benalec!!! run -----
Posted by null > Oct 10, 2013 12:15 AM | Report Abuse
anbz, are you sure? Where you get the news? -----
nightfly 14 posts Posted by nightfly > Oct 10, 2013 09:02 AM | Report Abuse
Anbz, be careful what u write. I will report this matter to authorities. ------- Posted by Fortunebull > Oct 10, 2013 12:34 PM | Report Abuse
Nightfly! Maybe Anbz telling the truth! Benalec is gold mine! But latest event of 2 directors sack must be very serious game changer! Any info please share!
--- "i told u so"...wa biasa guna ayat ni..sorry huh...
signals sudah banyak..ini hari baru dia punya harga kasih tunjuk belang
from the above data...it's very clear that benalec is able to make profit of around RM 20m every quarter...yet the last 2 quarters are very strange..these are just one of the signals..and itu berita basi yg tidak diambil perhatian oleh kebanyakan investors
elmo88 > I noticed this in Jun. See my posting on 12 Jun below and had sold it at 1.16 at breakeven price when the news of director sacking broke out. My comment is proved.
"I am existing shareholder. Had read through document about this sale of land to related party who is a company own by the director and his family. Their rationale of not calling an open tender for the sale is the buyer offers high upfront deposit which is 29m. Coincidentally, 29m of the proceeds from this sale will be used to settle the debt owed to the director. It is 'left pocket and right pocket' arrangement by the director. In the S&P, Benalec also needs to fork out 12m to build road in the land which has been factored in the balance sheet. I believe it will have more value if the company JV with another property developer to develop the sea front land. I do not like this but will not sell it now. Will wait untl it realises it potential in tg pia. this is definitely not a company for long term holding."
What kind of announcement is this? Benalec has not come up with good announcement n now you show us that they r getting a project eng there? Announce to us that you have gotten all the approvals and starting work soon! This is more useful! Can you Mr benalec?
benalac price dropped was triggered by the civil suit against 2 directors, the brothers; otherwise benalac is strong with cash and profitable projects on the sand mining/deepening projects along Johor Straits. Shares will rebound to around RM1.40 which reflect fair value based on current activities and businesses.
0.99 is the lowest price among the history of Benalec. The price sure will increase due to strong financial report and good product quality ( marine product occupy 80% of revenue). Now the price is affected by short term bad new and rumours. Who will be the winner to get the lowest price ! let see... 1 or 0.95 or really 0.8 ? lol so excited
Eventhough we can get below 99¢, we haveto wait for a long time before the price shoot up to 1.50. So it is a long journey. Sayonara Ben Ah Lec. Good luck.
seeing the litigation is on -going , chances of winning is slim n so a big chunk of the earnings will have to be paid via compensation. What has been said may be correct that this is a good stock but still need a longer time to realise good returns .
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Posted by papa > 2013-11-21 17:29 | Report Abuse
http://klse.i3investor.com/blogs/nexttrade/41591.jsp