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)
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.
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!
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.
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.
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.
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).
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!
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
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????
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.
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.
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.
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".
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?
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.
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..
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zero
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Posted by zero > 2014-04-08 16:48 | Report Abuse
to be honest, i'm getting really frustrated with this counter already