Posted by zero > 2014-04-08 16:48 | Report Abuse

to be honest, i'm getting really frustrated with this counter already

Posted by taciturn > 2014-04-08 17:12 | Report Abuse

zero: You were an investor from before the scandal broke out? If so, I can't blame you. Of course the long wait for Tanjung Piai/Pengerang is stressful.

All I can say is keep in mind that it's still profitable with almost non-existent gearing. And with the announced land sales able to keep it going for the next two years, it's just a question if whether they can get new jobs.

Penang was the probably the other big job prospect for land reclamation, but with the recent hue and outcry by residents (too much reclamation/development) it may put a damper on things.

Thus making Johor an even more important decision.

If you're thinking of cutting out, I'd personally wait until the EGM to see where things are going. With it being so close to the MoU's next expiry date, you might be able to get a better handle of things then.

I'll probably be attending the EGM (or will get a like-minded fellow investor/proxy to go on my behalf) with a decent number of questions. (will probably reproduce the answers here after that)

Hopefully we'll get a clearer picture then.

Posted by Kukuman > 2014-04-08 17:16 | 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
01/4/2014 (Day 14) : 0.890
02/4/2014 (Day 15) : 0.890
03/4/2014 (Day 16) : 0.885
04/4/2014 (Day 17) : 0.905
08/4/2014 (Day 19) : 0.895

I am tracking this rubbish company share performance.

Posted by imoogi99 > 2014-04-09 00:28 | Report Abuse

Rubbish do have some value too!

Posted by crawler > 2014-04-09 09:10 | Report Abuse

term sheet is final!

Posted by crawler > 2014-04-09 09:10 | Report Abuse

buckle up!

Posted by powerwk > 2014-04-09 09:52 | Report Abuse

crawler - what you mean term sheet is final?

Posted by crawler > 2014-04-09 10:24 | Report Abuse

the term sheet between 1MY Strategic Oil Terminal

Posted by BullBear > 2014-04-09 13:06 | Report Abuse

As reported by Bursa Direct Business Transaction, 45m shares of Benalec were traded today at rm0.77!

As such will the year low at 0.845 hold? Careful now, folks! Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Heheheheheheheheh!!

Posted by chrissaro > 2014-04-09 13:53 | Report Abuse

Warren Buffet...! :P

Posted by crawler > 2014-04-09 14:33 | Report Abuse

haha..if you don't know what it is please refrain from commenting. :) I cannot tell you what is happening in the behind but it will soon fly past 1.00

Posted by crawler > 2014-04-09 14:35 | Report Abuse

all I can said those who think this is rubbish and selling cheap to big fish. Let me show you how to turn rubbish into gold soon. Please track the price continuously I want to see how rubbish is this stock!

Posted by ymtan > 2014-04-09 14:44 | Report Abuse

crawler .. any hint of timeline so far ..??

Posted by sl_goh > 2014-04-09 14:44 | Report Abuse

days? months? or years???

Posted by crawler > 2014-04-09 14:49 | Report Abuse

look at the price now...

Posted by crawler > 2014-04-09 14:50 | Report Abuse

you tell me ..let's not speculate...just watch and you take your own decision

Posted by ymtan > 2014-04-09 14:50 | Report Abuse

Ben is active today .. Sign of giant wake up ??

Posted by SavvyOne > 2014-04-09 15:04 | Report Abuse

It is not a case of the giant waking up, it is more like some small-time investors are waking up!

Posted by BullBear > 2014-04-09 15:26 | Report Abuse

Folk, just a temporary rise in a specific stock. A sucker rally occurs with little fundamental information to back the movement in price.

Smart money will exit while the "suckers" will be easily deceived or duped to buy stock. Unfortunately for them, the rally proves to be short-lived, as their reasons for buying turn out to be incorrect or ill-timed.

Careful now, folks! Hahahahahahahahah!!

Posted by crawler > 2014-04-09 15:32 | Report Abuse

the facts you don't know doesn't mean there's no real fundamental behind :) So again I said please refrain from commenting if you don't know.

Posted by 8u29song > 2014-04-09 15:41 | Report Abuse

ok, my avg cost now at 0.905 !

Posted by crawler > 2014-04-09 15:43 | Report Abuse

big volume of share don't transact like this..there must be something brewing... that's all I can tell for now

Posted by taciturn > 2014-04-09 15:44 | Report Abuse

Bullbear: Thanks for highlighting the 45 million DBT. Would have missed it otherwise (don't really monitor DBTs).

The DBTs comprise four trades. Collectively, 45 million shares comprise 5.6% of the paid up capital of the company.

If it's one single buyer (or seller), we'll see it in disclosures in 7 days (or working days) time. Else, ah well. :p

On my part, not commenting on the transacted price. There are pros and cons there, make sure you talk to your broker (or an experienced trader) if you're not sure what it means or can mean.

Posted by 8u29song > 2014-04-09 15:53 | Report Abuse

for me, one thing for sure is upward more than downward !

Posted by taciturn > 2014-04-09 16:31 | Report Abuse

Tsk tsk at Star. 4.20am? :p

http://www.thestar.com.my/Business/Business-News/2014/04/09/Shareholders-building-up-position-in-Benalec/

KUALA LUMPUR: Benalec Holdings Bhd is attracting investor attention with a block of 45 million shares traded off-market on Wednesday.

Stock market data showed the block of shares accounts for a 5.56% stake based on the marine and civil engineering-based company's paid-up of 808.117 million shares.

The shares were transacted at 77 sen a share, which was at a discount of 14 sen to the current trading price of 91 sen.

At 4.20am, Benalec was up one sen to RM90.5 sen with 5.62 million shares done.

Posted by crawler > 2014-04-09 16:58 | Report Abuse

45millions 'rubbish' shares transacted..wow.. where's the rubbish tracker on the share price today?

Posted by crawler > 2014-04-09 16:59 | Report Abuse

make sure you track it everyday you know...see who gloat or who laugh at the end :)

Posted by zero > 2014-04-09 18:33 | Report Abuse

announcement is out on the off-market transaction - looks like its part of the HoA settlement? wonder who is the one picking up the shares though.

Posted by staind86 > 2014-04-09 19:15 | Report Abuse

The transaction volume is huge. At low price sumore. Could it be there is a new major shareholder coming in? Most likely it is an individual buyer.

Posted by taciturn > 2014-04-09 20:09 | Report Abuse

Disposal of 45 million shares by Oceancove (the principal holding company of Benelac):
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1590229

zero: Don't think it's part of the HoA settlement. At least there was never any reference to it in the first place. At first I actually thought it was Vincent Leaw exercising his option to buy 30% of his brother's stake but guess not. Ah well.

staind86: Well if it is a single buyer, we'll find out either by Wednesday next week (7 days) or Friday next week (7 working days).

Posted by powerwk > 2014-04-09 20:48 | Report Abuse

We need to find out if that a good news it otherwise. Plus we need to find out the reason behind the transaction.

Posted by posby > 2014-04-09 22:32 | Report Abuse

Priced @ discount... Beware..

Posted by BullBear > 2014-04-09 22:59 | Report Abuse

Folks, ask yourselves this question: if benalec has good prospect why sell the share at a discount of 14sen & not in the open market? Remember folks, now the buyer has 45m shares buying at 0.77 at his/her disposal!

Careful now!

Posted by crawler > 2014-04-10 00:22 | Report Abuse

you talking about bulk sales to a strategic investor..do you even know what a strategic investor is all about? if he/she dispose off in the open market the 5% share then he/she is not a strategic investor...again refrain from commenting if you don't know what's happening

Posted by jenabchen123 > 2014-04-10 02:21 | Report Abuse

Dow Jones climbing +137 points now. How Benalec climbing tomorrow?? Good nite. Pray for a good day for Ah Ben.

Posted by jenabchen123 > 2014-04-10 02:25 | Report Abuse

TP 1.25 very very very soon.

Posted by powerwk > 2014-04-10 07:10 | Report Abuse

Only end of today we will know where the price stand.

Posted by balvin71 > 2014-04-10 08:18 | Report Abuse

The transfer at RM0.77 has got me worried. Will the price go down towards this 'agreed value' and later rise when more details of the strategic partner comes out? Should we sell now and buy back later?

Or with news of a strategic partner increase the price? Not sure what to do????

Posted by allan88 > 2014-04-10 08:32 | Report Abuse

We can view this in optimistic or pessimistic view. Optimistically, this share goes to a single party. The buyer may be the strategic partner for the coming big project and they would like to hold a substantial stake, we will know soon who are the buyer? That is good if it is the case as something may be finalizing and prompted the pick up of ownership at this time by that single party. Pessimistic view, like what has been shared by others.

Posted by Kukuman > 2014-04-10 09:36 | Report Abuse

everything is so fishy fishy fishy with company. 5% of company shares is big deal to be treated this way without immediate announcement. you must be damn die-hard in your heart to be still so faithful with the company.

Posted by SavvyOne > 2014-04-10 09:37 | Report Abuse

I gather from a reliable source that the substantial block of Benalec shares has been taken up by a couple of O&G players who may have connections to royalty. Apparently the crossing of the shares is based on a strategic rationale since Benalec's impending projects in Johor are going to be related to O&G business activities. So, sleep soundly everyone.

Posted by balvin71 > 2014-04-10 09:46 | Report Abuse

I have sold, will wait on the sidelines once have a clearer picture. Will be buying back once have better direction. Good luck to all.

Posted by taciturn > 2014-04-10 10:00 | Report Abuse

How strange, Oceancove made the announcement to bursa of the sale the very same day for everyone to see. I wonder how they're supposed to be more "immediate" n the announcement.

No doubt some people believe that the announcement should be heralded with a press conference, marching band and pom-pom girls the second the transaction occurs.

Thankfully, most of the public is not like said "some people".

Posted by taciturn > 2014-04-10 10:01 | Report Abuse

SavvyOne: Thanks for the update. Hopefully that's the case.

Posted by Kukuman > 2014-04-10 10:03 | Report Abuse

Balvin, mind to share why you sell.

Posted by zero > 2014-04-10 10:24 | Report Abuse

sheer speculation here - only the very well-connected can get things at a hefty discount, right? remember the Johor sultan's other big deal with Berjaya?

Posted by Kukuman > 2014-04-10 10:35 | Report Abuse

No point speculating. Water get murkier until mr ben tells the world what the hell they are doing.

Posted by balvin71 > 2014-04-10 11:34 | Report Abuse

Kukuman: Sold as not sure the direction of the stock, per my earlier comment, not sure if will go down towards the RM0.77 new 'agreed value' or will go up based the big Johor project with this 'new strategic' partner. Since I am not sure, I am staying on the side-lines and will be ready to jump back in once have some direction.

Posted by crawler > 2014-04-10 11:46 | Report Abuse

hahaha..lots of speculation :) I can tell you there are some truth in the royalty thingy..cannot tell more than that. If substantial shareholder is in, the share will shoot up soon...it will not left like this. Think logically, would you buy a block of share that you think is going to go down..

Posted by crawler > 2014-04-10 12:16 | Report Abuse

pengerang vs tanjung piai...now the hurdles is clear for pengerang..what's next on tanjung piai? :)