splendid_ignorance: Queue support actually looks pretty decent. I'm actually guessing the early morning (9-10am) price drop was because a lot of traders (institutionals and retailers) woke up late because of world cup. :p
Am going to hazard a guess that closing will be 50-50 between 1.13 and 1.14.
Of course there's a good chance I'll be wrong since I suspect my sense of timing is as bad as (if not worse than) yours.
Whenever I buy something, my friends get ready to sell. When I sell, they get ready to buy. When I arbitrage shares that I have, I end up facepalming myself. :p
Only medium/long term trades seem to work out for me, heh.
- We maintain our BUY rating on Benalec Holdings with a fair value of RM1.31/share. This pegs the stock at a 45% discount to its estimated sum-of-parts (SOP) value.
- Benalec announced on Bursa Malaysia yesterday evening that the group’s 70%-owned unit, Spektrum Kukuh Sdn Bhd has mutually agreed to extend a binding term sheet with 1MY Strategic Oil Terminal Sdn Bhd for a further six months. The extended period will now take effect from 12 June 2014 until 11 December 2014.
- Recall that 1MY Strategic Oil Terminal was set up to develop 1,000 acres of land as a strategic petroleum storage facility at Tg.Piai. Benalec’s role is to sell and subsequently reclaim the land.
- This is the third extension to the deal in order for all parties to iron out the terms of a Sale & Purchase Agreement (SPA).
- We maintain our view that Tg.Piai’s investment merit remains largely intact. This is due to its close proximity to Jurong’s vibrant petrochemical hub in Singapore, where a large number of oil & gas MNCs are already operating.
- Furthermore, management is proactively working beyond the 1MY deal to secure more investors to develop Tg.Piai. Benalec’s total concession area in Johor is ~5,485 acres (Tg.Piai: 3,485 acres; Pengerang: 1,760 acres).
- Be it as it may, the group has to start delivering investors to monetise the deep development appeal of its highly coveted concessions in Johor.
- The delivery of a maiden offtaker will likely release the deeply-embedded value of Benalec and narrow the steep discount of 52% vis-a-vis its SOP.
- In the near term, Benalec’s prospects have taken on a positive trajectory. The group had last month, secured a RM204mil reclamation contract on a cash basis from the Oriental group.
- Together with recent land sales in Malacca, total contract value generated in recent months is close to RM600mil –providing earnings visibility over the next four financial years.
- The group is keeping an eye on several reclamation job prospects, including phase 2 of E&O’s Sri.Tanjung Pinang project in Penang.
- Benalec’s balance sheet remains healthy with a net cash position of RM22mil as at 31 March 2014.
xncziyi44, if you don't trust the directors or if you don't believe in the growth prospects of the company, the obvious course of action is to sell out or to refrain from buying in.
Agreed with SavvyOne, the top management are the key factor to drive the company towards a higher prosperity. If you have doubt on them, you better stay away. Otherwise, any hiccup, you'll sure run like a horse and then cry like a girl. Invest in a company is like investing into their future prospers.
xncziyi44: If you can, always attend company meetings (either EGM/AGM) and interact with the directors and management. This is especially true if you consider the amount you've invested to be a sizeable sum.
I've met so many different managers in the process. Some of whom are humble and self-deprecating, whilst others... you meet the person and after you're done, you're calling your broker to sell your shares.
The most memorable incident was years ago when I met the MD of a listed firm, which was involved in the automotive industry. Think this was some time before he got a Tan Sri-ship (long story there, heh), and the guy was seriously oozing snake oil. He literally was exuding sleaze.
If I recall correctly, I advised friends who were invested to cut their losses and they all sold by the very next day. (I was attending the meeting as their proxy)
Of course not long after that the company imploded in a blaze of glory and was subsequently delisted.
Till today I still run into banker friends who are dealing with him (debt restructuring issues) and every one of them still say he's the same sleazy chap.
wee889: You weren't here during the kukuman era (2-3 months ago), I take it? :p
And yeah some of the forums here are brutal, especially when prices are on a downtrend. Took a look at the sona forums earlier this week and it was pretty brutal.
lewistee - first your question not that clear :-) you are asking for tp for next week? Next month? Next quarter ? Or next year?
Second, if you trust the research house tp then some already given their tp of benalec. You need spend time search for it or read the past comment here.
Yes you are right powerwk this forum carries a lot of info not to mention the negative, some r lazy dont want to read just in pop in funny questions. I lost some cash b4 this forum now i can get some cash... tks to all those genuine writers.
I must have make a deep impression to some spin doctors here. My ID is always mentioned here. These spin doctors really don't have a life. Spin and talk and bully people is what they do here.. almost everyday!
A certain lying troll (kukuman) will say only "20 cents in 88 days". Me, I say almost 25% in 3 months.
Personally I think that's a pretty decent investment return. Of course others may differ.
Ah, and since that lying troll is back, I will ask the question again. Kukuman you claim that there are still back door dealing with the brothers in Benalec. Till today, you still have not shown proof to back up your statement.
Kindly do so, or I will believe that you still haven't found your balls as yet.
25/02/2014 (Day 1): 0.885 <don't really need to state all the rubbish in between, which is just wasting time for the readers here> 16/06/2014 (Day 107): 1.12 (up 23.5 sen _AND_ ( this is the part lying troll tends to ignore, up 26.5%!)
I am delighted at this company's share price increase from my initial purchase and look forward to it delivering better results in the future.
GoGoBenalec: What to do, the nick implies something but obviously he kecut-ed until nothing after refusing to explain his ridiculously outlandish statements.
1) Claims the Leaw brothers are still doing back door dealings with regards to Benalec.
2) Benalec should sue The Edge Malaysia for libel. Couldn't explain how one is supposed to sue for libel when they reported the truth. Asked him to elaborate he countered with something takin to "why are you so obsessed with legal matters" even though he brought it up in the first place.
3) States we should not rely on information from the boss alone but also from staff/ex-staff. Asked him if he knows any, refuses to answer (which means he probably doesn't know anyone lah).
Was hoping that he got a lawyer's love letter from Benalec (for libel lah) and that he'd promptly shut up because of it. Evidently not, so we have to tolerate his pure bullshit once again on this forum.
Kukuman: Come, what's your real name? I'll look for you at the EGM. And we will discuss your postings WITH Vincent Leaw in person (I'm sure he'd love to hear your statement about him still having back door dealings with his brothers). Let's see you if you have the balls.
If you decline, that proves that you're nothing more and nothing less than a lying, spineless troll.
In casino, a table is condemned whevever there's a quarrel n all the gamblers will vacant it. Likewise, a stock will perform when its investors r happy n harmonious.
so, with rubbish man/wo-man resurfaced, ah ben will up another 0.10-0.30 in say 1-2 weeks time. (i'm still holding tightly my x,xxx,xxx shares with cost of 0.90)
kheng: Agreed. Unfortunately in this case it's difficult not to lambast him when he makes a posting. Every time someone makes a posting in support of the company, one becomes a "promoter" and "spin doctor".
He makes statements that are so foul, that if true would automatically make the company a very dangerous investment for anyone (back door dealings by the brothers would be the equivalent of CBT/breach of fiduciary duties).
But every time he's asked to give some proof, some evidence, even a simple explanation on his statements, he refuses. He just carries on again and again with the same tried and tested formula of vindictiveness.
I usually avoid responding to his postings, but sometimes it's difficult to do so simply because they're so ridiculous it demands a breakdown and shredding of each of his (non-existent) points.
Few shameless ID here only exist in this forum. You will never see them in other forum. This is because their existence is to spin story for mr ben. They watch over this forum every minutes to make sure only good comments about mr ben are posted here. If your views are not in line with them, these shameless ID will jump on you immediately. Don't believe? Let's test them out.
1) Answer the questions that I put to him regarding his outlandish statements (Benalec brothers still having backdoor dealings) 2) Give his name, so that we can continue this discussion about his statement above with Vincent Leaw at the forthcoming EGM.
Also, it's not hard to tell when I got involved with investing in Benalec by looking at the history of my forum postings, my initial posting date in the Benalec forum should hint at that. Even someone with limited intelligence (maybe excepting for one person) should be able to figure that out.
And evidently, I wasn't aware that by not posting in any of the other forums makes one a "promoter" or "spin doctor". Never mind the fact that I only post in forums that I'm interested in.
Finally, I'll reiterate (especially for those with extremely limited intelligence) that I always like to see contrarian views on this counter. However I dislike to see views that are not backed up with one single iota of proof or reason.
Kukuman has never once justified any of his statements. He posts outlandish vitriol and leaves it at that.
It's like saying, "Politician XYZ is corrupt". When we ask, why do you say that, he does not reply. At the very least he could TRY to justify it with, "Because he drives a big car" or "He got a huge government contract". But from kukuman, nothing.
As always I urge all the forum readers to disregard kukuman's postings. He has never once posted the truth here.
I offer you again even though I cannot believe myself entertaining you again. where got people be so naive to give confidential evidences in public forum. give your name and phone number. my lawyer will chat with you on an informal basis. one to one. you will hear what you want to hear. but you have to go to the office yourself. Please don't expect people to chauffeur you.
Excuse me, but you were the one that initiated the challenge. Since you started it, it should be you that offers your name and number first.
Why in the world should I give my name first? And why would I even want to speak to your "lawyer"? As far as I know I have committed not one single crime against you or with regards to Benalec.
As far as I'm concerned, you're a completely untrustworthy person. For me to give you my name and number would be extremely foolish. To me, you have not shown a single ounce of integrity in this forum. To put it bluntly, I do not trust you.
You on the other hand have committed what I believe to be libel against both Vincent Leaw and Benalec. You claim that there are back door dealings between him and his brothers, implying criminal breach of trust/breach of fiduciary duties. From what I've seen, you have not backed up your statement with a single ounce of truth.
To resolve the matter, let's both go and see Vincent Leaw at the forthcoming EGM and discuss your statement face to face with him. After all, if what you claim is true then you have nothing to fear and it would be in the favour of the minority shareholders of the company.
However, if what you said is untrue, then he might decide to take legal action against you. And whose fault would that be? Yours.
All I've seen thus far is plenty of excuses or complete avoidance against my questions towards you. Now you seem to be trying to shunt the issue by getting me to speak to your "lawyer". To say that this situation that you have created to be a pathetic one would be an understatement.
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kurangmanis
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Posted by kurangmanis > 2014-06-13 11:54 | Report Abuse
taciturn, thank you so much for the reply. Sorry for the late reply, was away.