Anyone mind to give their company an email or call to ask about their project status? Last month they have made announcement to propose 2 sen dividend and share buyback for 10%. U can check for the announcement for this company. All is yet to be decided in the AGM
The research further opined that it was optimistic on Benalec’s latest land reclamation as it showed some progress on its Johor land development, which had been long overdue since its initial approval in principle from Unit Perancangan Ekonomi Negeri (Upen), Johor back in November 2011 due to a prolonged Environment Impact Assessment (EIA) studies.
Additionally, it highlighed, “Given the massive project size of 1,000 acres and an assumed reclamation cost of RM2.4 billion over four years, we believe that Benalec will need to gear up further by at least another RM180 million per annum to execute the project assuming that the project is based on a progressive payment basis rather than on a build- than-sell basis.
“This will bring up its net gearing from 0.03-fold to 0.36-fold for the first year, which is still at a comfortable level.”
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This was a report in march 14th, so I think work in progress may have taken a bite at earnings.
If it is not so, then something is seriously wrong with management, something which I don't believe so, despite a bust-up recently
The slowdown in Q1'2014 is in line with the sequence of events in litigation. It is more concern if the termination of two executive directors who involve in operations will not have any impact in short term e.g. temporary slowdown on marine construction works and reshuffling operations. Also, the Company has approximately more than RM200 million land sale in pipe lines which the SPAs have signed. Upon realisation of these land sales, the Company will remain strong with positive cash flow.
i have been holding since 1.30 damn sad .. but still planning to hold it for those who wanted to invest in this company my advice is ... DONT INVEST .. there are other better companies than this
the fundamental of this stock still strong,just the matter of time to recover.now everyone leave this stock because lack of confident on project tanjung piah.
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Posted by miketyu > 2013-11-27 10:24 | Report Abuse
Anyone mind to give their company an email or call to ask about their project status?
Last month they have made announcement to propose 2 sen dividend and share buyback for 10%. U can check for the announcement for this company. All is yet to be decided in the AGM