Posted by zero > 2014-03-25 13:48 | Report Abuse

just fyi, Benalec has already spent 12m MYR on the EIA (read the annual report); i don't believe they will 'burn' this money, and involve the Johor royalty, if they know it will come to naught lah. unless they really have nothing better to do.

Posted by crawler > 2014-03-25 14:26 | Report Abuse

I am damn positive on benalec..never been so positive on any stock.. dark horse is going to sprint very soon

Posted by Magnum > 2014-03-25 15:44 | Report Abuse

Agreed with crawler. Go for it.

Posted by Kukuman > 2014-03-25 17:08 | 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
25/3/2014 (Day 5) : 0.920

I am tracking this rubbish company share performance

Posted by zero > 2014-03-25 17:55 | Report Abuse

i think the the big catalyst will be when KWAP buys Benalec's shares again and resume being a major shareholder. KWAP seemingly sold off their stake to punish Ben for their management issues

Posted by posby > 2014-03-25 18:26 | Report Abuse

correct.. wait the fund manager to check in again....

Posted by posby > 2014-03-25 18:32 | Report Abuse

As at Nov EPF stil holding 7.08%... .. been disposing since den.. up to Dec left 5.84%......

Posted by taciturn > 2014-03-25 21:59 | Report Abuse

posby: Think you've got it wrong. EPF has never held a major stake in Benalec, KWAP (Kumpulan Wang Persaraan - i.e. Malaysian Pension Fund) did. The 5.84% you're referring to is them, not EPF.

As at 27 Dec 2013, they sold their stake down further to below the 5% threshold. They are no longer a substantial shareholder of the firm.

Till today, no other person/organisation has a minimum 5% stake which qualifies them as substantial shareholders except for Oceancove Sdn Bhd, which is the holding firm for the two remaining brothers and their niece.

Posted by zero > 2014-03-25 22:39 | Report Abuse

taciturn, you are right on this one. it's a troubling picture, isn't it?

Posted by taciturn > 2014-03-26 00:32 | Report Abuse

zero: Well, I'm ambivalent about this. Based off their annual report, as at Oct 31, 2013; out of the list of their top 30 shareholders, if you exclude Oceancove and KWAP, institutionals and fund managers from that list account for about 99 million shares. (out of 806 million shares - or 12.2%)

If you include KWAP at that time, you get 154m shares (19.1%).

Benalec doesn't have a very strong institutional base, and doubtless even that 12.2% shrank after the whole fiasco with the brothers happened.

The counter argument is that as the free float increased because of this, it becomes easier to accumulate shares. Whether institutionals have been bottom fishing after the heads of agreement/benalec's improved outlook is something I don't know.

The other thing to bear in mind (both good and bad) is that Oceancove still owns a huge part of the company (almost 53%). Bad since eventually it gets harder for institutionals to accumulate / even try to accumulate after a certain point.

For good, well the fortunes of the MD, brother and niece are all tied to the company. It's in their best interests with that kind of stake to see the company succeed after all.

There have been comments as to how the remaining owners have manipulated things to make a quick buck over the whole matter. Those who believe so should bear one thing in mind. For Benalec going from a price of RM1.50 to 90 sen, Oceancove lost a total of over RM250 million in market value based on their stake in Benalec (426m shares)

How they could "profit" over the issue leaves me baffled.

Posted by crawler > 2014-03-26 09:46 | Report Abuse

it can from 1.50 to 90 cents..it can also move from 90 cents to 1.90...this is stock market my friend.

Posted by posby > 2014-03-26 11:00 | Report Abuse

@taciturn thanks for correcting me.. although the technical already show bottom up with uptrend signal yet investor have faith on them..

Posted by crawler > 2014-03-26 11:11 | Report Abuse

don't look too much at technical, when this stock is up for goring, whatever technical down also it will move up like crazy

Posted by crawler > 2014-03-26 11:12 | Report Abuse

let's just said not wait till the 1MY strategic oil terminal SPA is signed..it will be too late to buy

Posted by ymtan > 2014-03-26 13:49 | Report Abuse

Hi crawler. . What u think this MOU will be signed ?? Mid year? ?

Posted by posby > 2014-03-26 14:56 | Report Abuse

haha...no compromise....... wait and c till june..whether it will postponed again or not...

Posted by Kukuman > 2014-03-26 17:29 | Report Abuse

All the die-hard fans already waited so long. I think it is not a problem for them to wait for few more months. Wait is their faith with this company

Posted by Kukuman > 2014-03-26 17:30 | 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
25/3/2014 (Day 5) : 0.920
26/3/2014 (Day 6) : 0.920

I am tracking this rubbish company share performance.

Posted by crawler > 2014-03-27 10:48 | Report Abuse

die hard man...time to collect more

Posted by oasischeah > 2014-03-27 11:41 | Report Abuse

Forget this company. There are so many good ones in Bursa.

Posted by crawler > 2014-03-27 11:58 | Report Abuse

rubbish turn to gold then you will know what is good one. Recycling man

Posted by posby > 2014-03-27 12:13 | Report Abuse

@crawler gud luck to you....

Posted by oasischeah > 2014-03-27 12:29 | Report Abuse

crawler - There are too many conman artist in this company. Gold is kept for themselves leaving you to support their ego.

Posted by crawler > 2014-03-27 14:52 | Report Abuse

luck is always at my end for some reason.

Posted by ymtan > 2014-03-27 15:50 | Report Abuse

crawler .. we are same boat ... lets cheers

Posted by Kukuman > 2014-03-27 15:52 | Report Abuse

oasischeah, you give very good description

Posted by oasischeah > 2014-03-27 16:01 | Report Abuse

Kukuman - Thank you. It is just a humble opinion. Majority of people who have been long enough in Bursa will understand this lackluster company.

Posted by Kukuman > 2014-03-27 17:49 | Report Abuse

Oasis, this is not just lacklustre co. this is scandal tainted company. They need to prove their worth

Posted by Kukuman > 2014-03-27 17:51 | 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
25/3/2014 (Day 7) : 0.920
26/3/2014 (Day 8) : 0.920
27/3/2014 (Day 9) : 0.900

I am tracking this rubbish company share performance.

Posted by Harold Huong > 2014-03-27 21:08 | Report Abuse

Kukuman, why you need to track price. You want to prove something?

Posted by zero > 2014-03-27 22:23 | Report Abuse

he spends more time than the 'rubbish collectors' on 'rubbish'. weird, isn't it?

Posted by posby > 2014-03-27 22:33 | Report Abuse

To prove he is right...

Posted by crawler > 2014-03-28 09:37 | Report Abuse

other than external factor like the tension in Russia and US...this stock will flourish

Posted by qwertyuiop > 2014-03-28 12:53 | Report Abuse

Hold & TP. thats all for this stock. time matters.

Posted by Kukuman > 2014-03-28 13:06 | Report Abuse

Yeah right. Hold is the key. Make sure hold until eternity

Posted by powerwk > 2014-03-28 16:03 | Report Abuse

No one know who is right or wrong. Sometime you could be right at this point but does not mean it right for future. It's really time will tell plus other key factor to decide where this counter will go and growth. But I always believe the top management *really* play an important role on how they bring value to the company and how they strategically plan the future of the company.

I stay neutral for this counter now unless I see the top management make some good progress.

Posted by Kukuman > 2014-03-28 17:52 | Report Abuse

You have a point. However, either you buy or you don't buy. Just like either you pregnant or you're not pregnant. No such thing as little bit pregnant. So, If you buy mean you believe with the company. If you don't buy mean you still don't believe the company, and to Stay neutral means you still don't believe the company.

Posted by Kukuman > 2014-03-28 17:53 | 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
25/3/2014 (Day 7) : 0.920
26/3/2014 (Day 8) : 0.920
27/3/2014 (Day 9) : 0.900
28/3/2014 (Day 10) : 0.900

I am tracking this rubbish company share performance.

Posted by Harold Huong > 2014-03-28 23:32 | Report Abuse

I give LIKE here, if have function to click LIKE...

Posted by tjhldg > 2014-03-29 00:44 | Report Abuse

hehee .. me too LIKE : )

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

@Kukuman - appreciate your time tracking this counter. I'm just curious instead of you spend time tracking the rubbish company. Why not you spend time tracking some Gold or Platinum company performance and then share it with us. Trust me people will still welcome you in this Benalec forum. They will be more than happy to have you here as well.

So do us two things. Continue your effort to share the performance if this rubbish counter. Also provide us two gold or platinum counter performance. This way you can help the rubbish collector to earn part time money.

How that sound?

Posted by SavvyOne > 2014-03-30 20:25 | Report Abuse

Kukuman,

Tracking a listed company's share price movements is something that any dummy or dimwit can do, simply because this kind of information is freely availabe on the internet, e.g. by logging onto Bursa's website. A company's share price changes from minute to minute on the stock exchange and does not necessarily reflect the true value of the company's shares.

A smart or well-informed investor will normally ascertain the strength of the company's balance sheet as well as the viability of its business model. In Benalec's case, the price-to-book metric is 1.28 times, without taking into account the market value of its reclaimed land-bank. If the market value of its land-bank is incorporated into the metric, the price-to-book could well be one-to-one. In layman's terms, this means that if the company were to be liquidated tomorrow, the investors will get back their money without loss. In other words, the investment risk is minimal in this case.

Further, I have been tracking Benalec's financial performance (and not just its share price movements) since their IPO in early 2011. For their financial years ending (30 June) 2011, 2012 and 2013, their reported after-tax profits have been RM96m, RM82.6m and 56m respectively. For the first half-year to 31 Deember 2013, the unaudited after-tax profit is RM20.7m. Now, tell me, how many "rubbish" companies do you know which have delivered such respectable financial results. My suggestion is this: go do some meaningful research before shooting from your mouth!

Posted by elrush2020 > 2014-03-31 09:39 | Report Abuse

Good info n homework savvy1 and also appreciate the contra comments by kukuman. At least the whole episode makes this place
merrier.

Posted by tewnama > 2014-03-31 11:11 | Report Abuse

sunyi nya sini

Posted by Kukuman > 2014-03-31 11:25 | Report Abuse

Mr/Ms savvyone, u just don't get my point, don't you. I know, u just want to take this opportunity to promote mr ben. since u r so bullish with mr ben, make sure u invest big in mr ben. No need to throw in all the numbers. everyone knows it la. But why the price still stagnant? Can you explain? Many things cannot be explained by mere numbers la. Anyway, If you want to win, make sure the price go up, until then, u r still loser. I still win.

Posted by Kukuman > 2014-03-31 11:30 | Report Abuse

also, you are one typical street player that most likely stuck in stock like mr ben and still in denial hoping the price will go up. It will, maybe, after mr ben redeem himself but it will take long time.

Posted by SavvyOne > 2014-03-31 12:18 | Report Abuse

Kukuman, you are wrong on a few counts. First and foremost, you have not given me an answer to my question re the number of "rubbish" companies that you know which have delivered results that can match those of Benalec's. Secondly, if numbers are not important, can you tell us what is? Thirdly, you seem to want to brand everyone who doesn't agree with you a "typical street player". May I ask what your investment expertise is? How do you actually out-perform guys who really know what they are talking about? Also, fyi, I posted my previous comments not because I want to promote any particular counter (heck, I won't be paid for doing that!) but because I can't stand ignoramuses going on a rampage making a lot of unfair and unjustified statements. Typical street player!

Posted by zero > 2014-03-31 12:21 | Report Abuse

My humble self, paling in the shade of Kukuman the smartest and top bestest number 1 investor's magnificent munificence, can only venture to help answer #2 - bamboo binoculars and holding 2 coconuts are definitely better than looking at numbers when investing.

Posted by Kukuman > 2014-03-31 12:21 | Report Abuse

Savvyone, the 2 posts forumer. I think I know who you are. you sounded same like the previous person. relax la. u back the same ID la.

Posted by SavvyOne > 2014-03-31 12:52 | Report Abuse

Kukuman,
Instead of running down companies you don't like for whatever reasons, why don't you just recommend the "best buys" to members of this blog? Do them a favour.