Posted by ymtan > 2014-03-21 10:11 | Report Abuse

All eyes is aim for 1000arce land

Posted by samsung555 > 2014-03-21 10:21 | Report Abuse

1.Introduction
Spektrum Kukuh Sdn. Bhd. (“SKSB”), a 70% owned-subsidiary of Tanjung Piai Maritime Industries Sdn. Bhd., which in turn is a wholly-owned subsidiary of Benalec Sdn. Bhd., which in turn is a wholly-owned subsidiary of Benalec, had on 12 March 2013 entered into a binding term sheet (“Term Sheet”) with The State Secretary, Johor (Incorporated) (“S.S.I.”) and 1MY Strategic Oil Terminal Sdn Bhd (“the Purchaser”) to undertake the reclamation works and sale of approximately 1,000 acres of land off the coast of Tanjung Piai, Johor Darul Ta’zim (“the Land”) for the purpose of constructing and operating a crude oil and petroleum storage facility together with a private jetty (“Project”).
(SKSB, S.S.I. and the Purchaser are collectively referred to as “the Parties”.)
2.Status
Further to the announcements made on 12 March 2013, 12 June 2013, 17 June 2013, 11 September 2013 and 12 December 2013 with regards to the Term Sheet, the Parties are in the midst of finalising the terms and conditions of the Sale and Purchase Agreement.

*******The Parties are in the midst of finalising the terms and conditions of the Sale and Purchase Agreement.*******

Coming soon............................






This announcement is dated 19 March 2014

Posted by viktor2u > 2014-03-21 10:40 | Report Abuse

KUALA LUMPUR: Affin Research has maintained its Trading Buy on Benalec with a target price of RM1.98 based on a positive outcome in the signing of a definitive Sale and Purchase Agreement with 1MY Strategic Oil Terminal, and commencement of land reclamation works for the Tanjung Piai and Pengerang concessions in Johor.

In a note on Friday, Affin said based on the estimated reclamation cost of RM157.2mil, the proposed disposal is expected to result in an after-tax gain of RM58.5mil, which is equivalent to RM0.07 per share and which will be booked in FY15 and 9MFY16.

“This proposed land disposal follows the proposed disposal last week of the four pieces of land restored to the group measuring a total of 23.0 acres also in Melaka for a total cash consideration of RM48.1mil and a PAT of RM24mil,” it said.

It added reclamation works on the lands will be carried out by Benalec Sdn Bhd and delivered to the purchaser in four stages: 32.6 acres, 31.9 acres, 33.8 acres and 30.3 acres.

The purchaser has paid RM23.5mil upon signing of the SPA and the balance of the consideration amounting to RM211.6mil are payable in four stages within 90 days from the date of the purchaser’s solicitors receiving the notification of issuance of land titles.

“The balance payable under each stage is as follows: RM53.7mil, RM52.4mil, RM55.6mil and RM49.9mil. Barring unforeseen circumstances, the proposed land disposal is expected to be completed by the end of 1Q2016, i.e. 3QFY16 of Benalec Holdings,” it said.

Posted by viktor2u > 2014-03-21 10:40 | Report Abuse

http://www.thestar.com.my/Business/Investing/2014/03/21/Affin-Research-maintains-Trading-Buy-on-Benalec/

Posted by zack_liza > 2014-03-21 11:19 | Report Abuse

WOW..come back 0.95...next confirm will touch 0.98 to 1.00...kenapa tak ada orang nak komen...!!!!!!!!

Posted by JT5774 > 2014-03-21 11:40 | Report Abuse

Let the price appreciate by itself instead of sharks push it up and down. Wait for the TP than sell. Happy Trading!:-D

Posted by posby > 2014-03-21 12:04 | Report Abuse

cimb the largest accumulator.. that why ask ppl to sell....... hahaha...... listen to urs analysis not research company........cimb nvr ask suggest buy since dec..... accumulate @ that time?.....hahah

Posted by powerwk > 2014-03-21 12:07 | Report Abuse

better that not many comments..... the more you comments and share the good stuff then the contra player will come and go :-) Is enough for people that kind enough to share the article. For those who want and interested to invest and believe that a good news then read it instead of someone here try to promote Benalec haha....

Posted by viktor2u > 2014-03-21 12:20 | Report Abuse

Even the CIMB has raised the price from 0.83 to .90, this tell us the price should shoot above RM1.00, if people listen to them sold at .80,they are so stupid!!!

Posted by taciturn > 2014-03-21 14:50 | Report Abuse

Stock Analysts are only human. They don't always get it right, else why work as a stock analyst? After all they can make a lot more money by trading in the market on their own (which they are prohibited to do - on accounts in their name at least :p)

Always do your own research (doesn't have to be extremely in-depth), read news articles, read the annual and quarterly reports (those are gold mines of information at times). Heck even go to the company's website just to see how their IR is like (Benalec's is decent - they link a fair number of analyst reports, although CIMB's is not on there :p)

Talking about analyst reports till today I really wonder if the Affin chap really knows more than the rest or whether he's just exaggerating. Regarding the 1 Malaysia Special Oil Terminal SPA (the 1000 acre job), Affin In their 13 Feb 2004 note stated, “Management guided that negotiations on the SPA are in the final stages. As a measure of management’s confidence, initial works are scheduled to commence in the middle of the year."

Notice that no other stock analyst has reproduced the above statement.

It's examples like this where the phrase caveat emptor (let the buyer beware) comes about. Someone who reads just that report will probably be hangat-hangat tahi ayam. Whereas someone who reads different reports might end up like me, going eh?

Note that I still like what Benalec's doing now after trying to resolve the mess with the two brothers. I do think the Affin fella is a bit overboard in his targets, but for now seeing Benalec's share price going over it's original IPO price looks like reality in the very short term.

Can't wait for the EGM when it's called. Have a fair number of questions to ask.

Posted by powerwk > 2014-03-21 15:34 | Report Abuse

thanks samsung555 for sharing. Now everyone come back to re-rating this counter. LOL. I guess more to come. But good thing.....many people did not even bother to read what happen, because I see there are throwing the stock.

1. Rating Maintain OUTPERFORM
2. Valuation Maintaining our SoP-based TP at RM1.25, at this juncture.

Posted by ymtan > 2014-03-21 18:29 | Report Abuse

Hopefully year 2014 will be year of benalec

Posted by OptimusX > 2014-03-21 18:29 | Report Abuse

1.20 within 2 months

Posted by posby > 2014-03-21 18:33 | Report Abuse

Wait kumpulan persaraan to come in.. All time big shark...

Posted by BEN_168 > 2014-03-21 21:02 | Report Abuse

sad kukuman. dont always so confirm of sth , and dont always force people to agree with you and talk something with no evidence

Posted by Kukuman > 2014-03-21 21:10 | Report Abuse

So sad. The so-called great annoucement on land sale but only managed to get market support to push up 2.5 cent. Repeat. 2.5 cent and not 25 cent. It shows that the market is sceptical with the company. So sad. Cant u see it? Never mind. Kukuman sad? Pathetic

Posted by knight1 > 2014-03-21 21:22 | Report Abuse

Price close above 50 SMA, volume has also improved. The price would probably move higher next week.

Posted by SANG-JERO > 2014-03-21 21:48 | Report Abuse

Short term target around 0.96......Resistance level 1.07.......

Posted by posby > 2014-03-22 10:57 | Report Abuse

1day 25cent u thought blue chip ah....bodoh punya kukuman.... Nanti kena UMA dari bursa....

Posted by jenabchen123 > 2014-03-22 14:46 | Report Abuse

Ah Ben! Ah Ben! 1.20 on sight with flurry of positive coverage. Cash is king during this difficult time. With cash more opportunity. Mahu tunggu?? :) nanti keretapi jalan ............ Bullet train ................

Posted by Stockman > 2014-03-22 17:58 | Report Abuse

Benalec got RM23.5million already from the land sales

Posted by BEN_168 > 2014-03-22 23:36 | Report Abuse

lol . i already gain 10% profit within 2 week by sold 20% of my share in benalec. Seem better than someone lost in this counter, keep bark, pijak this company and convince other to lose in this counter by sold their share in cheap price. Do you have any benefit by pijak this counter, kukuman? is important for other people to share the information either bad or good in this counter, but, i din see any convince fact from you to support ur so called " rubbish Benalec".

Posted by lwyy60 > 2014-03-23 04:31 | Report Abuse

just follow the chart~

Posted by lwyy60 > 2014-03-23 04:39 | Report Abuse

dont fight with the trend~

Posted by lwyy60 > 2014-03-23 04:48 | Report Abuse

let da new dissolve in price then re-inter again~

Posted by Kukuman > 2014-03-23 13:51 | Report Abuse

I 'admire' your 10% profit. At 0.935 now, mean that u make around 9sen or RM90 per lot. Big deal to you maybe. Wait at minute.... why need to sell 20% of the share? no confident in the company? or 10% profit is so big that u hv to sell? or expecting it to fall back? Your action and words seem very self -contradicting. typical street player

Posted by BEN_168 > 2014-03-23 14:36 | Report Abuse

I sold at 0.95 bro, I also look trend d, is strategic

Posted by almufathal > 2014-03-23 14:57 | Report Abuse

buying and sellingis a normal thing in stock la

Posted by jenabchen123 > 2014-03-24 01:11 | Report Abuse

Vroommmm! Vroommmm!

Posted by elrush2020 > 2014-03-24 09:10 | Report Abuse

I hate this counter

Posted by crawler > 2014-03-24 09:23 | Report Abuse

relax la. Good news on 1MY Strategic Oil Terminal soon..stay tune

Posted by crawler > 2014-03-24 09:41 | Report Abuse

is coming out anytime soon, it will be too late to buy then.

Posted by Kukuman > 2014-03-24 10:29 | Report Abuse

Where goes the hype? The so-called grand land sales could not draw the market interest to the company? so sad

Posted by powerwk > 2014-03-24 10:58 | Report Abuse

haha..... I like the stock market.... When majority of people think the counter going to up due to good news and to your surprise it went down. There are always thousands of reason behind why the share price movement on different way.

1. Either people don't read and understand what the benefit behind it or they do but don't want to admit it now.
2. Or they know benefit but they also know it will take time to achieve that therefore they don't want to wait instead invest in other counter for now (hope they have make the right choice)
3. a lot of observer outside the ring waiting for something to happen first. For example wait till the price break RM1 and etc.
4. And many more reasons that could lead to this price movement.

Posted by Kukuman > 2014-03-24 11:03 | Report Abuse

whatever case, this is rubbish company. that's why the so-called grand land sales story could not be bothered by the market

Posted by ymtan > 2014-03-24 11:06 | Report Abuse

Crawler .. i wish to know more about your info.. Thanks ya

Posted by powerwk > 2014-03-24 13:24 | Report Abuse

@kukuman - don't say rubbish company lah hehehe..... Else those holding this stock will have to call themselves rubbish collector :-)

@kuah - why you so confidence? Please don't guess or simply give a figure :-) I do wish you are right too.

Posted by Kukuman > 2014-03-24 13:42 | Report Abuse

Powerwk, those knew they are rubbish collector, still not too bad. Only those still in denial and continue to promote how good the company is, is the worst.

Posted by Kukuman > 2014-03-24 14:05 | Report Abuse

Posted by Kukuman > Mar 19, 2014 05:38 PM | Report Abuse
Let mark today. Now 0.92 cent. Let see when you will gloat. (Day 1)

21/3/2014 (Day 3) : 0.935

I am tracking this rubbish company share performance

Posted by crawler > 2014-03-24 16:06 | Report Abuse

it will break 1.00 very soon..no need to speculate..just watch

Posted by powerwk > 2014-03-24 16:08 | Report Abuse

haha.... we are here to share and no offense and don't take it seriously :-)

kukuman and kuah have your point. Frankly no one know the end result and what direction the stock will go in short/medium and long term. I do respect those that throw the stock and those that keep on buying on weakness. There are no right or wrong as they have different perspective how the stock going to be.

Posted by taciturn > 2014-03-24 16:43 | Report Abuse

http://www.theedgemalaysia.com/in-the-edge-financial-daily-today/281700-benalec-deal-is-positive.html

Benalec deal is positive

Benalec Holdings Bhd
(March 21, 93.5 sen)
Maintain buy with target price of RM1.02: Benalec Holdings, through its unit Jayamas Cekap Sdn Bhd, has entered into a sales and purchase agreement with Ultra Harmony Development Sdn Bhd for the disposal of 22 pieces of commercial land at Kawasan Bandar VI, Melaka Tengah district, for a total consideration of RM235.1 million. We are positive on this development as the disposal is done before the reclamation process, enabling the group to immediately crystalise the value of its landbank, hence improving its cash flow.

The land measuring approximately 128.52 acres (52ha) is valued at RM42 per sq ft (psf) which is about a 5% or RM11.1 million premium to the current market value in the vicinity of RM40 psf.

The land disposal is in line with the group’s business model in selling a portion of the reclaimed land, which involves a settlement in kind for cash. This also provides an avenue for Benalec to raise funds to repay its outstanding indebtness as well as finance ongoing and future reclamation projects.

The net book value of the land upon completion is estimated at RM157.52 million. Thus, the disposal value is a 49.6% or RM77.9 million premium from the net book value translating into RM58.5 million in realised gain from the disposal.

Furthermore, the disposal will reduce the group’s gearing ratio to 0.05 times from 0.06 times in the audited accounts for June 2013.

We are positive on this news and expect there to be a few more disposals in the immediate future, hence maintaining its healthy cash position to fund prospective projects.

We are leaving our forecast unchanged with a target price of RM1.02. — BIMB Securities Research, March 21

Posted by powerwk > 2014-03-24 19:53 | Report Abuse

I think the people won't believe it until the company share the profit with the investor :-)

Posted by Kukuman > 2014-03-25 09:44 | Report Abuse

so quiet today. atleast it is not going down

Posted by jenabchen123 > 2014-03-25 10:21 | Report Abuse

G8 now becomes G7 with expulsion of Russia. With all named sanctioned imposed on Russians, huge funds are leaving Russia and where do they go??? to under performance market like KLSE. It is just timing. Hold on and sit tight with your position. I believe it will be sudden surge when this funds move in.

Posted by jenabchen123 > 2014-03-25 10:29 | Report Abuse

And Benalec with strategic partners playing in Johor, how could you call this as rubbish company?? You dare to call this linked JV as rubbish??

Posted by crawler > 2014-03-25 10:35 | Report Abuse

the darkhorse is going to run the final finish line for tanjung piai..watch out

Posted by jenabchen123 > 2014-03-25 11:22 | Report Abuse

All the best to Tg Piai! The highest bidder win at highest profit margin to Benalec. Then the cash can line up our pocket!

Posted by posby > 2014-03-25 12:58 | Report Abuse

even benalec not confirmed this project... jen u sound like know more den benalec director..?

Posted by posby > 2014-03-25 13:03 | Report Abuse

do not too optimistic ... thr are others player .. like the YTLPower and 1MDB issue..... project call off can happen anytime if both party didnt come with conclusions and solutions..

btw since den this project has been extending to june 2014... if u got excess cash worth try little of it....do not too optimistic..
25/03/2014 13:02