Posted by taciturn > 2014-06-09 09:17 | Report Abuse

Article regarding Johor, the palace and land reclamation in the state

http://www.themalaysianinsider.com/mobile/malaysia/article/putrajaya-politicians-gird-to-check-royals-influence

Posted by bonescythe > 2014-06-09 09:24 | Report Abuse

Sultan vs a lonely EIA.

Who will win?

Posted by bonescythe > 2014-06-09 09:33 | Report Abuse

Today Sultan Ibrahim Sultan Iskandar intervention on JohorCorp will be billed.

How many times in history that a Sultan will get rejected?

Posted by crawler > 2014-06-09 10:17 | Report Abuse

why you all still don't understand..EIA will be approved..sultan will win this

Posted by crawler > 2014-06-09 10:18 | Report Abuse

you shall see..everything is already settled..is just stage show now

Posted by taciturn > 2014-06-09 14:30 | Report Abuse

crawler: I don't believe that to be true until I see the approval announced in black and white.

"will be approved" just doesn't cut it. It could be approved say in a year or two's time (personally I don't believe there'll be an outright rejection, but a delay is quite probable).

Anytime someone says, approval by "xxx days/weeks/months" or "real soon", I take it with a pinch of salt.

It's the same as saying, a new strategic investor has bought into the company, and no announcements declaring that ever appear (unless said strategic investor is happy with a less than 5% stake... which doesn't make sense in calling him/her a strategic investor in the first place)

Facts first, assumptions second, rumours third (usually a very distant third). That's how I've always looked at investments.

Posted by king7 > 2014-06-09 16:05 | Report Abuse

What are u talking now? Taciturn ??

Posted by taciturn > 2014-06-09 17:46 | Report Abuse

The EGM for the HoA ratification and the RM235m land sale has been announced.

10am, 25 June 2014 (Wednesday) at Holiday Inn, Shah Alam.

EGM notice for Land Sale (10am)
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1651945

EGM notice for the Heads of Agreement ratification (10.30am)
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1651953

Posted by crawler > 2014-06-09 18:14 | Report Abuse

haha..you are so naïve..when you see the black and white...is time to sell ...sell on news

Posted by taciturn > 2014-06-09 18:44 | Report Abuse

Share buyback announcement by Benalec today. 300,000 @ RM1.13.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652121


crawler: To each his own. I'm in this for the long term, not for a quick exit. You might think it naive to wait for the black and white, whilst I think the same for someone who's "hoping" that it will happen soon.

This is a bit like people believing that Benalec has already won the Sri Tanjung Pinang 2 job... even though the tender hasn't even been called for yet.

Posted by bonescythe > 2014-06-10 09:16 | Report Abuse

When EIA already approved, Benalec will be probably above RM 1.50 already.

Internal people whack all and sell down at news. Just like SONA and Hohup news.

Posted by taciturn > 2014-06-10 09:34 | Report Abuse

Disagree. This is not a sale or a purchase. This (the EIA) is the approval for you to start doing work, whether you're able to sell your work is another question altogether.

Sona's case was partly due to the fact they made the announcement with very limited details (and the fact that they have to gear up to almost 1) to make the purchase.

On the balance of things, doubt that any such news (EIA approval) would cause a sell down.

Posted by Ring > 2014-06-10 12:32 | Report Abuse

10 Jun 2014
CIRCULAR TO SHAREHOLDERS IN RELATION TO THE: PROPOSED DISPOSAL OF TWENTY TWO (22) PARCELS OF LEASEHOLD COMMERCIAL LAND WHICH HAVE BEEN OR WILL BE RECLAIMED BY BENALEC SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF BENALEC HOLDINGS BERHAD, MEASURING IN AGGREGATE INDICATIVELY 128.52 ACRES (APPROXIMATELY 520,102 SQUARE METERS TO BE HELD BY JAYAMAS CEKAP SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF BENALEC SDN BHD, TO ULTRA HARMONY DEVELOPMENT SDN BHD FOR A TOTAL DISPOSAL CONSIDERATION OF RM235,129,910.40 TO BE SATISFIED ENTIRELY IN CASH (“PROPOSED LAND DISPOSAL”)

Posted by jenson68 > 2014-06-10 15:39 | Report Abuse

Watch out ! Accumulate while price low....

Posted by bonescythe > 2014-06-10 16:28 | Report Abuse

1.18

Posted by tkteoh80 > 2014-06-10 16:28 | Report Abuse

again, RM1.18......

Posted by taciturn > 2014-06-10 16:29 | Report Abuse

1.17 to 1.18 atm.

Circulars for the EGM on the 25th of June have been issued.

Regarding the RM235m land sale to Ultra Harmony:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652405

Regarding the Heads of Agreement ratification:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1652537

Posted by Stockman > 2014-06-10 16:56 | Report Abuse

Cash rich Benalec:

http://www.theedgemalaysia.com/business-news/293752-benalec-sells-land-for-rm23513-million.html

Posted by chin888 > 2014-06-10 17:32 | Report Abuse

tomorrow will shoot up?

Posted by powerwk > 2014-06-10 17:34 | Report Abuse

thanks taciturn - to me both news land sale RM235m and the HoA ratification sound positive and good to the company and investor but against the share price may not react accordingly to those news and may go to the other direction. I could be wrong let see.

Also I do think any issues for share holder to vote and agree with the HoA because all is good and completed. Am I miss out something?

Posted by powerwk > 2014-06-10 17:41 | Report Abuse

chin888 - no one know :-) as I say the news may not move the price or may....

Posted by taciturn > 2014-06-10 17:55 | Report Abuse

powerwk: Most logical, rational shareholders will vote for the HoA. Of course there's always a fear that those who are illogical might show up (i.e. kukuman won 6/58, with his winnings bought into Benalec, and shows up at the EGM and votes against it :p).

Am reading the HoA circular now, the one thing that does cover things is item 14 (Approval Required) on Page 30. That basically does cover the situation as best as they can if shareholders vote against the resolution.

To quote from the second paragraph, "As set out in Section 13.1 above, with regards to the HoA settlement arrangements as set out in Sections 2 to 10 of this Circular, notwithstanding the outcome of the EGM for the Proposed HoA Ratification, those items that had been completed shall remain effective"

Translation, whatever has already been completed as part of the agreement shouldn't be undone (cat's out of the bag, horse has fled the barn, bucket has spilt its milk) even if shareholders don't like it.

The only two items that aren't completed as yet as part of the global settlement is the "Citypoint Suit" (should be less than RM1m that Benalec has to pay them by beginning of July next month to complete the matter) and The Access Road (not sure how to calculate any liabilities on Benalec's part - if based on the cost of road, less than RM13m).

Besides that everything is basically thumbs up. Still reading the circular slowly, will chime in if I spot anything else.

And yes, the share price can sometimes be illogical. :p So don't know if it'll go up or down after this (and the EGM). There may be some disappointment tomorrow as the 1 Malaysia Strategic Oil Terminal term sheet expires tomorrow (and will likely be extended for another 6 months).

Posted by bonescythe > 2014-06-10 20:01 | Report Abuse

Hahaha.

already tell u guys stp2 in the strike

http://www.theedgemalaysia.com/business-news/293792-penang-govt-endorses-eaos-rm12b-seri-tanjung-pinang-phase-two-plan.html

Posted by bonescythe > 2014-06-10 20:03 | Report Abuse

All this is rm235m and HoA for wadever thing is not impactful.

it is the more than rm3b deal from stp2 that will see thing running.

Posted by bonescythe > 2014-06-10 20:09 | Report Abuse

Taciturn... trade shares dun look at what you can see.
Like this no people will be poor already

to be a good trader or investor, you trade what people cannot see in the coming days ahead..
that is call advantage.

:D

Posted by Barbarian > 2014-06-10 20:11 | Report Abuse

Kekekeke....always here advantage in tennis followed by match point.....

Posted by bonescythe > 2014-06-10 20:13 | Report Abuse

Tomorrow E&O will burst along with Benalec

Posted by bonescythe > 2014-06-10 20:14 | Report Abuse

E&O rm25B gdv... lim guan eng should be very happy with it, and want it fast fast get done.

Another 1 more shot in Johor will send Benalec to sky

Posted by wee888 > 2014-06-10 20:16 | Report Abuse

hope a small ikan bilis will become a big kurau!!!!

Posted by tshwong > 2014-06-10 20:40 | Report Abuse

A kampung champion will soon transform itself into giant, very soon will break 1.50 then 2.0.

Posted by crawler > 2014-06-10 20:40 | Report Abuse

some people want to see the facts, the things printed black and white on newspaper only believe..what to do..

Posted by bonescythe > 2014-06-10 21:20 | Report Abuse

For you to read again.

current catalyst.. stp2

http://bonescythe.blogspot.com/2014/06/benalec-mounting-solid-front.html

Posted by king7 > 2014-06-10 21:47 | Report Abuse

Ahhhh tswong now nampak u.

Posted by taciturn > 2014-06-10 22:21 | Report Abuse

Heh, okay. To put it again, let's agree to disagree.

You like to pin things on your hopes and dreams that things will work out.

Me, I'd rather be realistic.

Bonescythe, what people cannot see is simply assumptions. The only time you get ahead is if you have kangtao/insider news.

And crawler, I'm not interested in what's printed in black and white on newspapers. They can be wrong, they can also be rumour mongering and assuming things.

I'd rather see the announcement from the horse's mouth itself, i.e. the company. If they announce it on Bursa, I'll believe it, till then carry on.


I do have one question for bonescythe though. If Benalec doesn't win STP2, then what? Don't get me wrong, I am hoping that they'll win the job. But what if they don't? What happens to your analysis and playbook? Anchor and adjust?

Then you'll be looking to the RM235m sale and thanking your stars.

I also note with amusement that you view the "HoA for wadever thing is not impactful". Makes me wonder if you even read the circulars, heh.


So far I've seen four types of traders. There's the insider/syndicate type who gets news before hand (sadly, not me), then there's those who believe in FA (I'm one of them), others who believe in TA (not me), and then there's the type who main tembak (or listen to rumours), close your eyes and pray that things work out. :p

Posted by bonescythe > 2014-06-10 23:46 | Report Abuse

Ok la.. Whatever it is, no point to argue. You got your sets of trading strategy. As long as it is making money and return to you, keep using it and keep doing it. But if your method is not working out as in losing money, then you have to rethink your method whether it is correct anot.

As for me.. I managed more than 400% in 6mths.
How I managed, how I got information. Some direct, some indirect, some through intensive studies.

Good luck in your FA style trading.

Posted by ktrader > 2014-06-11 06:57 | Report Abuse

yeaaa.....well said bones.....

Posted by taciturn > 2014-06-11 07:58 | Report Abuse

Heh, okay. We'll see.

Posted by tshwong > 2014-06-11 08:26 | Report Abuse

Agreed with u, bones. Results speak louder than anything. But, u still have to test it whether u can maintain the good results for 3 years, 5 years, 10 years, 20 years and above. Long term consistent good results is the key measuring factor to differentiate the great investors with the seasonal investors. Anyway, good write-up on Benalec in yr blog, very impressive. Good luck to u in yr investment journey toward the rich.

Posted by crawler > 2014-06-11 09:07 | Report Abuse

let's see if sell on news strategy hold :)

Posted by speakup > 2014-06-11 09:09 | Report Abuse

Undervalued

Posted by speakup > 2014-06-11 09:10 | Report Abuse

From rm235mil land sale, Benalac could potentially give out a special dividend.

Posted by crawler > 2014-06-11 09:12 | Report Abuse

hahaha..maybe...but..still will sell on news

Posted by crawler > 2014-06-11 09:17 | Report Abuse

let the market do what they want first...

Posted by thinkkfully > 2014-06-11 10:05 | Report Abuse

the company bought back lots shares.... any specialist here, what the company could do to the buyback shares?? dissolve? sell out back?? or else??

Posted by bonescythe > 2014-06-11 10:08 | Report Abuse

Bonus issue

Posted by powerwk > 2014-06-11 10:16 | Report Abuse

wongwee - what your opinion about the best channel to ask the company?

Posted by thinkkfully > 2014-06-11 10:19 | Report Abuse

haha~ call to ask the operators? or calling CEO???~~~ if I got insiders~ i wont ask here~~ I will tell here~~~ :)

Posted by tshwong > 2014-06-11 10:23 | Report Abuse

Unlikely any big dividend payout cause they need to preserve capital for huge potential projects. This is a capital-intensive business, which also enjoy very handsome profit margin. Within a year or two timeframe, it'll definitely bear fruits. Any price weakness is an opportunity to accumulate more if one still don't have enough of it.

Posted by taciturn > 2014-06-11 10:33 | Report Abuse

thinkkfully: There are four options that a company has with regard to treasury shares.

a) Keep it. By doing this, any cash dividends issued, part of the payout is reduced since it goes back to the company via treasury shares.
b) Cancel the shares. This reduces the amount of shares in issue and increases the EPS for existing shareholders.
c) Sell the shares. This assumes that the company will make a profit when they do so, increasing their cash flow. However when this is done it usually means that the company believes the share price is fully valued (or in case of a company not doing so well, that they need the money for operations)
d) Dividend in specie. A share dividend to existing shareholders. This seems to be the most common route to reward existing shareholders. However as the treasury shares currently come to just a little over 1% of the company's paid up capital at the moment, this is unlikely for now. I.e. a dividend in specie if announced now will be 1 for every 100 shares held which is very small.

Considering that the majority of buybacks are quite recent, I believe the company will just hang onto the shares for now.


And for the record, treasury shares are not used for bonus issues.

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

wongwee - that exactly my point :-) but how many of them will attend the AGM or EGM? many are trying to wish and hope getting the answer without much work and even not willing step out from house :-)