Posted by Kukuman > 2014-12-18 11:02 | Report Abuse

you all don't be so hard on him/her. he/she is just a young boy/girl in the market not too long only. still a lot of growing up to do.

Posted by where > 2014-12-18 11:11 | Report Abuse

wakakaak..... kukuman.
You dont be surprise if she looks like Jolin Tsai

Posted by happyvic > 2014-12-18 11:44 | Report Abuse

hahaha... I didn't say anything like that. But if I must say it, I'm saying everyone will be corrupted if given the power.

ok la... don't want to argue with you. You have your own way to make money, I have my own. There is no point condemning a company in public unless... you really lost a lot. Then I feel bad for you. Wrong timing for you.

But this is funny, I was a director a minute ago... now im Jolin Tsai... hahaha...

Posted by Kukuman > 2014-12-18 11:49 | Report Abuse

Najib: I pay myself 1 mil salary per month
You: How can? so corrupt
Najib: Where got. I told you openly ma. Some others get low salary but buy themself a BMW and a Bungalow under the expense of the company/government.
You: oh yeah. You are right. You are so transparent. Salute you

Posted by where > 2014-12-18 11:50 | Report Abuse

kukuman so funny.

Posted by kawteongeng > 2014-12-18 11:51 | Report Abuse

Wakakakaka...told d long klci 1680..wkakakakakaka...laugh so hard

Posted by where > 2014-12-18 11:51 | Report Abuse

This Benalec even worse la. RM7.5 million plus undisclosed benefits (i believe).

Posted by happyvic > 2014-12-18 13:09 | Report Abuse

so many things to say but I'm lazy to explain. I guess that's why taciturn also lazy to reply this guy. childish mind. anyway... market recovering a little since yesterday yeah... Sapura kencana also up already...

Posted by happyvic > 2014-12-18 13:10 | Report Abuse

For future reference...

Kukuman Najib: I pay myself 1 mil salary per month
You: How can? so corrupt
Najib: Where got. I told you openly ma. Some others get low salary but buy themself a BMW and a Bungalow under the expense of the company/government.
You: oh yeah. You are right. You are so transparent. Salute you

18/12/2014 11:49

Posted by Kukuman > 2014-12-18 13:15 | Report Abuse

Najib: I pay myself 1 mil salary per month
happyvic: please explain why you deserve it
Najib: So many things to say but I'm lazy to explain.
happyvic: how can
Najib: I guess that's why my wife also lazy to reply this guy.

Posted by happyvic > Dec 18, 2014 01:09 PM | Report Abuse
so many things to say but I'm lazy to explain. I guess that's why taciturn also lazy to reply this guy. childish mind. anyway... market recovering a little since yesterday yeah... Sapura kencana also up already...

Posted by happyvic > 2014-12-18 15:13 | Report Abuse

Go on, please show us how childish you can be. I hope you're young. Otherwise it's so embarrassing for an old man to talk like that.. lol

Posted by Kukuman > 2014-12-18 15:23 | Report Abuse

good. now you learned what is childish. taste your own medicine

Posted by happyvic > 2014-12-19 16:30 | Report Abuse

embarrassing...

Posted by taciturn > 2014-12-19 22:48 | Report Abuse

I intend to attend the company's AGM this coming Monday morning. If any of the forum members (who follow this board) are present, do come and say hi.

Oh and it won't take rocket science to figure out which one is me. Just wait for the Q&A session and it'll be quite easy to guess.

Posted by rlch > 2014-12-19 23:16 | Report Abuse

Questions to be asked in AGM:
1) Director remuneration
2) Dividend(why only 0.3sen)
3) Shares buy back(why discontinue)

Posted by rlch > 2014-12-21 11:21 | Report Abuse

Better attend AGM and complain there rather than complain here.

Posted by zero > 2014-12-22 00:33 | Report Abuse

@jj - this IS Vincent Leaw's grandpapa's company, you know ;)

Posted by where > 2014-12-22 09:11 | Report Abuse

Pls ask................... if lands can sell, why use as collateral?

Posted by where > 2014-12-22 09:15 | Report Abuse

Pls ask how the funds raise will be used? how much for Johor? how much for Melaka and how much for new projects? Otherwise they will mess up the accounts and money will disappear without knowing use for what projects. Tell them precisely to show how the money will be allocated?

Posted by where > 2014-12-22 09:39 | Report Abuse

Question to be asked during EGM
The Company has deferred revenue of RM204 million as at 30 June 2014 which accordingly should be able to materialise within a year. In view of this, why still need to do fund raising? Also Boon Siew projects are based on cash basis meaning that the company should be able to receive cash progressively?

Posted by where > 2014-12-22 09:41 | Report Abuse

Question to be asked during EGM

Based on the note 22 on annual report on page 108. The risk free rate used for valuation of esos is 3.91%. Why the bonds' interest rate offers is only at 4%, equivalent to risk free interest rate. Is the bond also risk free? why the company do not intend to do rating?

Posted by where > 2014-12-22 09:52 | Report Abuse

Thos making money from ESOS - Page 41 Annual Report 2014.

If share price rise because shareholders pump money in, these are names who will be making more money than investors.

Ng Huat Hoe
Bernard Boey Weng Onn
Kenneth Chin Kah Kiong
Cheong Yew Huat
Wong Wai Li
Teh Siew Yuen
Tang Yek Soo
Koid Heng Hua
Teo Ai Kiang
Dato’ Leaw Seng Hai
Aznam bin Mansor
Koo Hoong Kwan
Wong Yoke Nyen

Posted by taciturn > 2014-12-22 09:53 | Report Abuse

@where: I could have sworn you posted here that you've sold down your entire stake in the company. Yet you still seem deeply interested in its ongoings? Shouldn't you have retained a minimal stake (1 lot) and either attend the AGM or send a proxy to ask those questions?

@zero: Lol, good one.

Posted by where > 2014-12-22 09:53 | Report Abuse

@Zero.... u sure this is their grandpa's company? really true chinse proverb, Wealth cannot sustain longer than 3rd generations. Ruin at 3rd generations.

Posted by where > 2014-12-22 09:57 | Report Abuse

@taciturn .... maybe i will attend as proxy. I know even attend also useless because the directors with their shareholdings will vote for and surely pass just that the directors might kena hentam kau kau and likely bond will under subscribe. If under subscribe, the reputation of the company will collapse forever as it indicates public lack of confident on this company.

Posted by where > 2014-12-22 10:01 | Report Abuse

@taciturn ... why current market slowdown and ringgit depreciate so much due to huge foreign cash outflow and ratings agencies downgraded Malaysia's growth rate, global slowdown, property markets cooling down and oil price dropped and some even predict can go as low as USD20, Other countries foresee to raise interest rates, I doubt the bond issue RM200m will success

Posted by where > 2014-12-22 10:08 | Report Abuse

i wonder the directors scare kena screw tomorrow so now pushing share price up. After EGM, down again.

Posted by where > 2014-12-22 10:55 | Report Abuse

On Page 42 of Annual Report - the director sold 45m shares. Why? foresee share price drop so sold the shares or as director, who even sold the company's shares meaning no confident on own company? if the board always said transparent, the director must explain why? need money? boh lui? where proceeds used by directors?

Posted by where > 2014-12-22 11:12 | Report Abuse

Important question must ask during EGM

Note 7 - PPE pledged is RM32 million. Note 12(c) Inventories - land held for sale pledged is RM19 million. Note 17 - Cash and bank balances - cash pledged is RM18 million. Later land held for sale RM200 million pledged for bond issues.

Shareholders' funds at 30 June 2014 at RM543 million. Less assets pledged at RM269 million. Meaning actual shareholders' funds is RM269million.

If all assets pledged already, what left to shareholders? peanut? shareholders' shareholding merely paper enjoying beggars' dividend. I give beggar RM1 also higher than dividend if i am holding 300 shares.

Also, lands as at 30 June 2014 at RM258 million less those sold. Remaining lands sufficient to pledge as collateral? How the value the land? Over value so less land to be pledged? At RM42 without margin of safety to bond holders?

Posted by where > 2014-12-22 11:19 | Report Abuse

see you guys tomorrow !!!!!!! lets beat table, chair and screw directors like how shareholders did for MAS. Foresee Ah Ben soon will be like brother to MAS. Black hole sucking money from publics. Will tell u, if u dont put more money, the company will liquidate.

Posted by where > 2014-12-22 11:22 | Report Abuse

Read also want to laugh. Puit puit puit. Group of conmen running company like MLM. Selling hopes. Cause me lost so much money. Make me tue lan. Will go to his grandpa's graveyard and tell him how their grandchildren running the company and cheating old people money like me
http://www.thesundaily.my/news/1093914

Posted by taciturn > 2014-12-22 11:46 | Report Abuse

@where: I've already answered about the 45m share sale. As answered by Vincent Leaw, he needed to funds when he bought out his eldest brother's stake. You might disagree with this, but to me it was a necessary move.

Also, the AGM is today and ongoing now...

Posted by where > 2014-12-22 11:51 | Report Abuse

SHIT...... i miss it. Tomorrow got EGM. Why they do it separately? to make less shareholders to attend and pass the resolution easily. Very wicked.

Posted by where > 2014-12-22 12:01 | Report Abuse

Pls update us here how Vincent answers on his salary

Posted by king7 > 2014-12-22 12:04 | Report Abuse

EGM for Bond only.

Posted by taciturn > 2014-12-22 13:04 | Report Abuse

EGM on separate day because of SC. They issued the approval only on 8 Dec. By the time circulars could be printed and mailed it was too late to have it on the same day as AGM. (14 days minimum notice needed)

Posted by king7 > 2014-12-22 13:15 | Report Abuse

Is all resolution passed?

Posted by taciturn > 2014-12-22 14:44 | Report Abuse

All resolutions at the AGM passed. Voting was done by poll.

I asked specific questions regarding independent directors' fees and emoluments, and also the managing director's payments.

Was very satisfied with the rationale for independent directors' fees. Was reasonably satisfied with regard to the MD's compensation package.

The former was due to the amount of time they had to put in to resolve the mess with the other two brothers. This upcoming financial year's (FY2015) fees will be lower as things are back to normal.

MD's compensation includes a deferred bonus from FY2013 which was only paid in FY2014. Also from the answer given by the chairman of the remuneration committee, the MD's compensation will be lower this year as it's (to my understanding) a percentage of revenue as the ceiling.

Will get further clarification on this later on since I couldn't ask much as I wanted since there were a lot of pointless questions being asked (i.e. Why parking is not reimbursible - FFS, parking at Pyramid is RM1 for first 3 hours, and RM1 for subsequent hours -, why no door gifts? (holy mother of god, I really wanted to scream at that one) and of course there were inevitable questions which can be answered just by reading the annual report (how much are auditor's fees, of the two brothers kicked out of the company, do they still own shares in the company, how many treasury shares does the company have)

There was also one shareholder whom I dislike for the way he put his questions and statements. First he accuses the board of incompetence (hence resulting in the share price slump, never mind oil prices are f***ed up and if you look at our local bourse, things are pretty bad) and then later on he accuses the chairman of not pulling his socks up in doing enough for the company by getting more press coverage for the company (never mind that our chairman is an independent non-executive director and most definitely not a member of management.

Truly felt that was the most moronic highlight of the day, more so than the no door gifts and no parking reimbursement questions.

Posted by taciturn > 2014-12-22 14:47 | Report Abuse

oh and @where, I'm thinking you're just trolling this forum rather than really wanting to know the answers to your questions. You say you've sold out, but still seem keen to grind your axe.

Feel free to attend the EGM tomorrow and ask your questions. I'm too tired (and busy) these days to continue doing research for others for free, especially when some of the answers for questions you asked can already be found if you actually take the time to browse through this forum.

Carry on ranting. I couldn't be bothered.

Posted by Simon Lau > 2014-12-22 14:48 | Report Abuse

TQ very much taciturn

Posted by rlch > 2014-12-22 14:58 | Report Abuse

Very volatile stock. Who do the selling and now buying?

Posted by where > 2014-12-22 15:05 | Report Abuse

tomorrow is my turn to attend

Posted by happyvic > 2014-12-22 15:27 | Report Abuse

Thx for the info. @where... you need to be more steady with your decisions. Not one moment say that this is rubbish and the next moment.. trying to profit from it. lol... I personally don't really care if its rubbish or not... more into the value of the stock. at 60+ cents... its definitely of good value to me. Please attend and update us here ok? I'm curious to know why hasn't the share buy back materialized.

Posted by Kukuman > 2014-12-22 15:29 | Report Abuse

where, get ready your questions and also your answers, just like the spinner did !
another word mean coach your questions with answers !

Posted by Kukuman > 2014-12-22 15:34 | Report Abuse

months back some king kong said 80c is super value for money. now you say 60c is value for money

Posted by zero > 2014-12-22 15:46 | Report Abuse

king kong and godzilla? now you wonder who's childish :)

do you want to throw your peas at taciturn as well? :D

Posted by happyvic > 2014-12-22 16:52 | Report Abuse

lol... just take this guy as a joke. by peas, do you mean his brain or his testicles? lol 80c good buy... 60c omfg super good buy...

Posted by staind86 > 2014-12-22 19:55 | Report Abuse

Thanks taciturn.

Posted by staind86 > 2014-12-22 20:02 | Report Abuse

https://my.news.yahoo.com/controversial-forest-city-project-know-fate-week-014151588.html

This is another important news to watch out for this week

Posted by rlch > 2014-12-22 20:09 | Report Abuse

Share buy back resolution approved in AGM. If in the past they have bought back Benalec above RM1 why they can't continue to buy at 60sen now? taciturn, can ask about this in tomorrow EGM if you still attend.