Posted by where > 2015-01-07 17:07 | Report Abuse

The Leaw Tua Choon so generously donated a van during Anniversary of the Malaysian Moral Uplifting Society cum Conference year 2013.

Posted by where > 2015-01-07 17:16 | Report Abuse

http://www.st.gov.my/index.php/component/k2/item/15-1000mw-and-2000mw-coal-fired-power-plant-projects.html

Posted by where > 2015-01-07 17:35 | Report Abuse

Benalec sells land at RM28 per sq ft for bigger size of lands no issue and shareholders approve it. Years back selling land also at RM28 but just forgot to disclose and Independent Directors kicked them out.

Leaw Tua Choon and Leaw Ah Chye no need to resign as they only seek shareholders to rectify any non disclosure. If shareholders not approve, just return the money back and then only Company will decide whether to pursue to court or not.

The Independent Directors issued them letter to sack them is an offence because the Independent Directors have no right to sack directors until shareholders approve it. Like Protasco case, can the directors simply sacked another directors? They need to have EGM to seek shareholders to approve it. Otherwise, why we need to seek shareholders on annual AGM on directors' appointment

If Tua Choon and Ah Chye want to seek back damages and sue back Independent Directors for wrongful dismissal, they can do it. Also, at that time, only 1 Executive Directors plus 3 Independent Directors therefore it is demonstrated that the Independent Directors no longer independent and may not acting in the best interest of company, subject to influence & pressure, potential conflict of interest, lack of objectivity.

http://buildconasia.com/industry-news/1368-property-valuer-comes-to-benalec-s-defence/

Posted by where > 2015-01-07 17:35 | Report Abuse

clearly demonstrate the MD is crazy for power. Is matter of time, this company will ruin.

Posted by where > 2015-01-07 18:26 | Report Abuse

Shareholders should ask in next AGM whether after 4 years from Sep 2010 to Jan 2015. Only grow hair and grow greed.

http://online.theedgemalaysia.com/highlights/179341-benalec-targets-regional-growth.html

Posted by where > 2015-01-07 18:46 | Report Abuse

1st time in history that independent directors sacked executive directors. If that is the case, Protasco no need to have EGM already. The directors of Protasco can work together with another independent directors then sacked another directors. If that is the case, whole listed company in Msia will be in mess. The Independent Directors even as nomination committee, their powers limited to nomination matter because they are not Termination Committee.

Posted by taciturn > 2015-01-07 19:18 | Report Abuse

*munches popcorn*

This is fairly entertaining, all newly revealed angles over what has happened in the past.

I'm not going to rebut any of the points here unless anyone specifically requests me to do so.

I'd like to think that most readers here are rational and logical and come to their own conclusions.

This paragraphs is exceptionally amazing in its entertainment value, IMHO.

"Benalec sells land at RM28 per sq ft for bigger size of lands no issue and shareholders approve it. Years back selling land also at RM28 but just forgot to disclose and Independent Directors kicked them out."

Just forgot to disclose. ROFLMAO. If I ever tried that my partners would probably lynch me from the nearest tree.

The Heads of Agreement highlighted so many other issues, and not just because they "forgot to disclose".

Posted by fortunebullllz > 2015-01-07 23:36 | Report Abuse

Munches popcorn ? What the relation. Stupid and childish

Posted by rocketbull > 2015-01-08 09:34 | Report Abuse

Hindsight 20/20

Posted by zero > 2015-01-08 10:13 | Report Abuse

'what the relation'?

somehow, reading atrocious english helps me de-stress... *takes out box of popcorn too*

or, shall i say *take out the box the pop-kon and the munch ah*

My partners would lynch me if i as much as say 'what the relation' too ;)

Posted by taciturn > 2015-01-08 10:42 | Report Abuse

zero: Lol. I just skimmed through his one liner without really reading it, just saw the regular insult "stupid and childish" and ignored it.

But your highlighting that line made my day too. Heh.

Pop-kon, pop-kon. :p

Posted by zero > 2015-01-08 10:52 | Report Abuse

@taciturn - sometimes i feel very bad for you lah. ergo, i couldn't resist ;)

usually, you know me, i can't really be bothered to type anything here... i put my innate snark-iness to better use at work :p

Posted by where > 2015-01-08 11:03 | Report Abuse

Amboi...... when no points to explain, as usual... will criticise English no good, boring, wasting time, entertaining, atrocious English..... bla bla bla.

If Leaw Tua Choon approached me to be his lawyer, I am 99% sure can win the case.

Posted by where > 2015-01-08 11:08 | Report Abuse

By virtue that the Board approves subsequent sale for bigger land at RM28, it is proven that the remaining directors who side MD have malicious intention to remove them and the Choon & Chye can sue back the remaining directors for breach of fiduciary duties because to act in the best interest of company, negligence in executing responsibilities and lack of competency for failure to detect such transactions.

Posted by where > 2015-01-08 11:12 | Report Abuse

If directors / MD is aware of such transaction yet do nothing, he is deemed as accomplice which carry same weight on the offence. I pity the Choon and Chye give up without seeking best lawyer like me ......

Posted by where > 2015-01-08 11:15 | Report Abuse

Refer below case law and Choon and Chye are able to win the case

SOLID INVESTMENTS LTD VS ALCATEL-LUCENT (MALAYSIA) SDN BHD
TAKAKO SAKAO V NG PEK YUEN & ANOR [2010] 1 CLJ

Posted by zero > 2015-01-08 11:20 | Report Abuse

"If Leaw Tua Choon approached me to be his lawyer, I am 99% sure can win the case."

I thought you just said the use of language is not important? and you are a 'top bestest lawyer'?

To paraphrase kukuman and fortuneballs here, really 'laugh die me' ah.

Posted by zero > 2015-01-08 11:21 | Report Abuse

i can't even begin to grasp what carp you're spewing here

Posted by where > 2015-01-08 11:25 | Report Abuse

Also it is likely civil offence. It is not criminal offence because if it was criminal offence, the independent directors / MD has greater responsibility on weight of evidence (beyond reasonable doubts) and if subsequently if MD/ Ind Directors failed to prove, Choon and Chye can sue back for defamation and malicious intention. The Choon and Chye can seek each and every directors and key managements to make statutory declaration that they are not aware of such RPT transactions and everything in the Heads of Agreement.

The transactions back years earlier, those knew earlier but not doing anything also commit an offence. Unlikely the Independent Directors / MD / Mgmt will play such risky games as it will drag everyone causing ships to sink.

Posted by where > 2015-01-08 11:39 | Report Abuse

@Zero

to bring back the directors to balance the Board. After the directors left, profits dropped from RM80 million average to RM7 million.

Now 1 MD 3 Indepen Directors. 1 MD runs daily operation. The 3 Indepen Directors only meet 6 times for let say 4 hours each meeting in 365 days

Posted by where > 2015-01-08 11:39 | Report Abuse

@Zero.............. you wont understand complexity thinking of a lawyer and reason behind of every action

Posted by where > 2015-01-08 11:40 | Report Abuse

And I m ready to assist both of them...

Posted by happyvic > 2015-01-08 13:06 | Report Abuse

Hahahaha... self praise is no praise bro...

"The 3 Indepen Directors only meet 6 times for let say 4 hours each meeting in 365 days"

best lawyers don't operate based on assumptions...

Posted by Kukuman > 2015-01-08 13:28 | Report Abuse

where, that's how he response when no points to explain. this ID @ zero even worse. he/she uses words like "your mother" when cannot win an argument. I agreed with fortunebulllz, stupid and childish.

Posted by where > Jan 8, 2015 11:03 AM | Report Abuse
Amboi...... when no points to explain, as usual... will criticise English no good, boring, wasting time, entertaining, atrocious English..... bla bla bla.
If Leaw Tua Choon approached me to be his lawyer, I am 99% sure can win the case.

Posted by where > 2015-01-08 13:54 | Report Abuse

happyvic .... is vic means vincent?

Posted by taciturn > 2015-01-08 14:23 | Report Abuse

Fact: LTC and LAC committed breach of fiduciary duties as directors of Benalec. They committed to RPTs involving (but not limited to) land sales.

Breach of fiduciary duties is a criminal (and not just a civil) act.

Benalec could have sought remedies in a civil action against them in court.

LTC, LAC, LTC's son and their associated companies settled with Benalec to restitute Benalec for all their wrongdoings. This was done through the Heads of Agreement (HoA) which all parties involved signed and was ratified by shareholders in an EGM.

One of the final clauses in the HoA stated that no party could pursue another via a civil action after the HoA is completed.

I'm not sure how LTC et all is supposed to sue Benalec since they signed the HoA when you look at this clause.

As a final note, the actions of LTC et all were criminal by nature. No HoA can prevent the attorney-general's chambers from pursuing a criminal case against them for their wrongdoings.


@where: If you believe that they still have a case after all this, why are you just posting on this forum? You should be contacting them directly to offer your services.

Posted by where > 2015-01-08 14:27 | Report Abuse

Taciturn .... pls go and study ABC 1st then CLP before talking law with me. A contract signed can still be breached otherwise will so many court case.

I intend to do so if they initially agreed and afford my fee and appointed me to represent them.

Posted by where > 2015-01-08 14:28 | Report Abuse

correction from "will" to "why"... old man here. Later @Taciturn criticised me again for my English

Posted by where > 2015-01-08 14:29 | Report Abuse

court case = court cases. Correction. Nowadays need to careful otherwise Taciturn will criticise my English again.

Posted by JT5774 > 2015-01-08 14:48 | Report Abuse

Where, I read with interest all you comment today andi have found it to be interesting. If you still believe that the two(2) brother's have cases against Benalec, than you should call them up to offer your advice directly to them instead of posting in this forum.

Since you claims that you are the lawyer, who can help them, and with all the posting in this forum, do you think the brother's will seek your advices. I personally doubt they will. You know "WHY", because you talk to much.

As a lawyer, you should know pretty well, that all informations you have at your disposal, will be dispose at the right time.

Posted by where > 2015-01-08 15:02 | Report Abuse

@JT5774 ..... not information but knowledge. I know Tua Choon's characters. They have missed the boat and for sure they will not pursue further. When come to Malacca, drop message here. If got chance, I will bring you around and see what they are doing now.

Posted by TAGS80 > 2015-01-08 15:03 | Report Abuse

@taciturn. i would like to know where you got those 'facts' from?

Posted by TAGS80 > 2015-01-08 15:07 | Report Abuse

is there any proofs or 'facts' that they really committed the so called 'crimes' as you said? or is it just what benalec said and then after that look for them to resolve it? (fishy right? charge already then look for settlement?) please mind your own business before talking about nonsense facts. you can be sued for stating false facts idiot. too free la you seriously post so much facts here and there, go and buy some shares and drink your coffee or munch your pop corns in a cinema la.

Posted by JT5774 > 2015-01-08 15:09 | Report Abuse

Where, Thank you in advance for your offer.

Posted by taciturn > 2015-01-08 16:04 | Report Abuse

TAGS80: Uh... wow I don't know why you suddenly seem to have an axe to grind with me.

Suddenly you accuse me of:

1) "stating false facts"
2) "too free la you seriously post so much facts here and there"

Let's look at the source documents that were issued.

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

I'm not going to restate all the points. But you want to see the _wrongdoings_ committed by LTC, LAC et al, read the freaking goddamn document.

If you think that document is a lie, why the hell didn't LTC et al _SUE_ Benalec and its directors for defamation. After all, the document is pretty damning.

You think I pulled all these facts out of a hat? It's in the bloody document.

Yes, I spoke to the other directors and got their version of what happened. But if these are all lies, let me ask a simple damned question:

Why didn't LTC, LAC, LTC's son et al sue Benalec? Why didn't they stand their ground and say these are all lies?

At that time, collectively, LTC+LAC's shareholding in the family firm is bigger than VLSH and their niece's stake. The two of them _HAD_ majority control. They could have told VLSH to bugger off, if _they were in the right_.

TAGS80, if you don't like me stating facts, and for that matter they are real facts, that's your bloody goddamn business. But don't you ever say that I stated "false facts". Every freaking goddamn thing I try to have a relevant source to refer to.

How dare you? Who the hell are you act as judge, jury and executioner?

You don't like my posts, skip them. But never, ever call me a liar. You, sir, are the idiot.

Posted by taciturn > 2015-01-08 16:16 | Report Abuse

TAGS80: Answer these damned questions.

Based on the link above I gave, which is a bursa disclosure and which if any party lies, well the crap can hit the fan.

1) Did LTC and LAC do unreported related party transactions by selling land to firms that they had vested interests in? [Seaside Synergy Sdn Bhd and Sunshine 2000 Sdn Bhd]

2) Did LTC and LAC granting a contract for the transport and unloading of sea sand to a company from which they themselves derived secret profits? [Citypoint Engineering Sdn Bhd]

3) Did LTC allow a restaurant to operate on one of Benalec's lands without the knowledge of the other directors of Benalec? The restaurant operated on the land either free of charge or with payments that were _NOT_ made to Benalec. This was only discovered when Benalec had to deliver vacant possession of the land to a buyer! [Sunshine Bistro Restaurant]

4) Did LTC allow a cement plant to be operate on one of Benalec's reclaimed lands, land which was supposed to be handed over to the Melaka state government, without the knowledge of the other directors of Benalec? The cement plant operated either free of charge or with payments that were _NOT_ made to Benalec? [Vimix Concrete Sdn Bhd]

You damned well better answer these questions and then tell me whether these are lies instead of facts. I am sick and tired of dealing with people who accuse me of lying when they can't damned well read the documents themselves.

If any of these are lies, there would be serious defamation concerns. Instead you see LTC, LAC et al _signing_ the Heads of Agreement with Benalec. So which is it? Did they commit a wrong or didn't they?

You should be ashamed of yourself, sir. I'd suggest you either stand up and respond like a man, or shut up and hide with your tail between your legs.

Posted by firehawk > 2015-01-08 16:20 | Report Abuse

stronging again ,,,,,, good ........

Posted by Kukuman > 2015-01-08 17:07 | Report Abuse

Tags80, you must be cannot stand anymore the crap from the king of spinner as I remember you used to be king of spinner's supporter.

Posted by TAGS80 > Jan 8, 2015 03:07 PM | Report Abuse
is there any proofs or 'facts' that they really committed the so called 'crimes' as you said? or is it just what benalec said and then after that look for them to resolve it? (fishy right? charge already then look for settlement?) please mind your own business before talking about nonsense facts. you can be sued for stating false facts idiot. too free la you seriously post so much facts here and there, go and buy some shares and drink your coffee or munch your pop corns in a cinema la.

Posted by JT5774 > 2015-01-08 17:13 | Report Abuse

Why keep digging up all the old storys. Now is Year 2015, and things that happen is Year 2014 is long gone, and nobody can turn back the clock. Let us all look forward.

For those investor's who have faith in this counter, keep your finger cross and hope it will recover soon.

And for those who have lost faith, i hope you don't keep on running down the Company and move on with your investment on other counters. There is more than one counter to invest in.

Posted by rocketbull > 2015-01-08 17:36 | Report Abuse

Share investment / trading is to make more money and not enemy.

Posted by where > 2015-01-08 17:42 | Report Abuse

@Taciturn.... if you become lawyer, sure you clients all lost the cases and have to go to jail.

Posted by taciturn > 2015-01-08 17:51 | Report Abuse

@where: Why just look at that. That was my sentiment about you too! What a great coincidence , eh?

Posted by where > 2015-01-08 18:07 | Report Abuse

@Taciturn... i pity you because you act like parrot or good followers of MD. I appreciate if u can use valid points and argue facts accordingly. If based on contract, then in this world, no one can breach contract. Your point seems invalid.

The MD is good because too ambitious to expand regional, getting projects for Johor and etc but all halfway and never complete. Reclaim land but cannot sale, said going regional to Indonesia and Vietnam and having office in Singapore but just talk and syiok sendiri.

If he can gets approval for EIA, i will eat back my words.

Posted by taciturn > 2015-01-08 18:27 | Report Abuse

@where: You again bandy insults against me.

I have highlighted whatever points are necessary in my previous postings, feel free to read them if you have difficulty in recalling them.

You have highlighted points that are irrelevant (van donation? Wow - has absolutely no point with respect to the company's performance)) or absolutely wrong (your points on legal issues) in my personal opinion.

"Reclaim land but cannot sale"
Teobros Development - 23 acres
Ultra Harmony - 128 acres
Jadex - 59 acres

These are the above lands that were sold ever since the criminally liable directors (LTC and LAC) resigned.

Of these three bundles of land that were sold, only one was fully reclaimed at that time (Teobros Development - this was the land that LTC and LAC secretly acquired for their own interests in a criminally liable unreported RPT).

Of the other two bundles, the lands were sold BEFORE they were even reclaimed. In other words, the buyers put 10% down for something that's still covered by the sea.

So do tell, I'd be delighted to hear how you can justify "Reclaim land but cannot sale".



The articles that you posted regarding Indonesia and Vietnam were done just around the listing time of Benalec (2010-2011). You may not understand this but plans do change. You may intend to do something but then change your mind. Did Benalec pump in money in setting up Indonesia and Vietnamese branches and staffing them? No, they did not.

Projects for Johor...what exactly does that mean? Tanjung Piai and Pengerang? It took Ngau of Dialog fame about 10 years from start to finish before he could even break ground on Pengerang.

It has been... 5 years or so since Benalec got the concession for Johor. When they receive EIA approval, they intend to break ground within a month or so (after getting the state developmental order). That's about half the time that it took Dialog.

Do explain how all this is "just talk and syiok sendiri".

Feel free to try to rebut any of the above points if you disagree (especially with regards to "Reclaim land but cannot sale". If you don't even bother (which is what is likely to happen), that will tell readers exactly how valid your arguments are.

Posted by jjwong > 2015-01-08 19:01 | Report Abuse

Benalec Eyes Indonesia, Vietnam For Regional Expansion
December 28, 2010 17:29 PM

KUALA LUMPUR, Dec 28 (Bernama) -- Benalec Holdings Bhd which is en route to a listing on Bursa Malaysia's Main Market on Jan 17 next year, is eyeing Indonesia and Vietnam to expand its marine construction services regionally.

Group Managing Director Vincent Leaw Seng Hai said Benalec expected to enter these new markets in the next two to three years.

"We have the potential to become a regional integrated marine construction specialist with our scalable business models that can be expanded into other regional markets," he told reporters after the launch of the company's listing prospectus here Tuesday.

Asked whether Benalec would open branch offices or set up joint ventures in Indonesia and Vietnam, he said: "To go overseas, I think it is good to team up with joint venture partners. We have identified the partners but not yet signed any memorandum of understanding."

Benalec currently has operations in Singapore, offering chartering services via its affiliated company, Oceanlec Pte Ltd.

Leaw said Benalec was in the midst of procuring the Building and Construction Authority (BCA) licence from the Singapore government to enable the company to bid for land reclamation projects.

"Once we secure the BCA licence, we will secure all the contracts under our branch office in Singapore," he added.

Established in 1978, the integrated marine construction and vessel chartering services provider currently has an order book of RM855 million, of which RM664 million in unbilled orders and will last until 2016.

Leaw said Benalec was bidding for four to five projects in Malaysia and Singapore and the company would make the announcement when the time was right.

"We envisage that the demand for land reclamation would increase over the years due to abundant benefits it would bring. Most importantly, we see reclaimed land as a means to provide land for the building of seaports and airports, power plants, petroleum hubs, and marinas and resorts," he said.

In terms of revenue breakdown for the financial year ended June 30, 2010, Leaw said marine construction contributed 89 percent, while the vessel chartering and marine transportation segments made up the balance.

On the company's listing exercise, Leaw said the proposed listing would enable Benalec to strengthen its position in the marketplace and undertake bigger projects in local and regional markets.

The listing exercise is expected to raise RM100 million, of which over 90 percent will be used as working capital.

Benalec's initial public offer involves a public issue of 100 million new shares of 25 sen each and an offer for sale of 130 million shares at an issue price of RM1.00 per unit.

A total of 36.5 million new shares will be made available for public subscription.

AmInvestment Bank is the adviser, sole underwriter and sole placement agent.

-- BERNAMA

Posted by Ricky Kiat > 2015-01-08 21:30 | Report Abuse

time will tell, even EIA approval still pending, but somebody are still collecting benalec share. Just wait & see.

Posted by where > 2015-01-08 22:43 | Report Abuse

who else..... the person who scare being take over lo

Posted by Kukuman > 2015-01-09 10:27 | Report Abuse

Spinner talks so much, writes so long post but bring no value to the share price. Price depressed for so long and yet happily defending this rubbish company. Another scandal is coming. Stupidity really has not boundary. Who I am referring to? The king of spinner aka taciturn !

Posted by happyvic > 2015-01-09 11:00 | Report Abuse

lol... where keeps on telling us how great a lawyer he is... lol... its so funny. where and kukubirds really are clowns... no writing is going to change market price... if taciturns writing is going to boost market price... I suggest he writes about Michael Jackson coming back to life... seriously... I don't know if I should laugh or cry when reading all these remarks... lol sobs

Posted by Vin Tan > 2015-01-09 11:36 | Report Abuse

jjwong, what is the relevance of the old news you posted to current dynamics within the business environment within which Benalec is operating? What is it that you want to say?