Posted by losing > 2015-05-08 17:03 | Report Abuse

Taciturn ...u got potential to be shoe polisher. Can say dead person still alive. Gold fish as shark fin. Bravo

Posted by losing > 2015-05-08 17:04 | Report Abuse

Taciturn.... ur persistent can make u a best person to defend and explain 1MDB to the public.

Posted by losing > 2015-05-08 17:05 | Report Abuse

Even share price drop, no one going to buy cause it is hamyue share.

Posted by losing > 2015-05-08 17:07 | Report Abuse

So coincide 29 April 2015 HLIB announce completion of RM200 million bond issue. On 30 April 2015, receive litigation. TVB Drama meh

Posted by losing > 2015-05-08 17:12 | Report Abuse

Since Taciturn said Sentosacove related to brothers and the MD owns share, theoretically he knew litigation will be coming in. As MD of listed company, he did not make declaration or informing to HLIB. Seems MD now full of ants too and biting him. Thanks Taciturn for revealing that MD owns 21% share. His brothers surely be happy to be witness that they have informed MD earlier with supporting document. If they have informed MD and MD did not reveal to bankers especially and / or investors, then big issue already especially i believe MD and management sign declaration that not major things happened and will declare if they made aware............................ Taciturn........... not sure who are u, the more u post, the more u reveal information that jeopardise Benalec.

Posted by taciturn > 2015-05-08 17:33 | Report Abuse

Just to clear up any moronic statements made by others here.

In a private company, there are directors.

Any decision to file suit is made by the directors/management.

As SSB is a holding firm, they don't really have any management to my knowledge. I would assume decision of filing the suit is done by a majority vote of the board of directors.

It is quite evident that Vincent Leaw whilst a shareholder (and I assume a director) of SSB would not be in agreement to the suit.

It would not surprise me if he was not even aware that the other directors agreed to file the suit.

Now some less than stellar imbeciles in this forum will of course be trying to paint a black name against Vincent Leaw on this matter.

We all know who the big culprits in this case are in filing this suit.

It is the two rogue brothers who are also shareholders of SSB (in case some of you have not figured it out). Leaw Tua Choon and Leaw Ah Chye, the former directors of Benalec who were crooks and forced to resign.

The two crooks who were especially adored by the hum yee/chow tau foo user named "where" on this forum.

As some of will recall "where" claimed that these two people "forgot" to declare their RPTs instead of admitting that they tried to rob Benalec blind by selling land to themselves.

And now we can see the photocopy of "where" has appeared on this forum to spout the same kind of crap.

Of course if this latest iteration of "where" believes a crime has been committed by Vincent Leaw in not making any necessary declarations/disclosures, then I suggest he should perhaps grow a pair unlike "where" by filing a complaint to the SC.

I am of course not holding my breath for that to happen.

Feel free to carry on with your bullshit. I tend to make it a point not to bother responding to your posts, but this recent series made me snicker enough that I just had to.

Posted by losing > 2015-05-08 17:34 | Report Abuse

Taciturn .............. now is litigation time. The more you post, the more information you will reveal out and not to the advantage of Ah Ben. Therefore, no matter who are you, i advised you to KEEP YOUR MOUTH SHUT or else one case settle, will see another case to your owner. I know you are good dog but dont la bite your own owner.

Posted by taciturn > 2015-05-08 17:49 | Report Abuse

That's hilarious. Say so sorry to you? Beg you?

Hell will freeze over first.

And I note how you refer to me as a "good dog", and "don't la bite your owner".

You are slipping. The former shows that you are "where". Sucks that you cannot use your former name anymore since it stinks like a combination of hum yee and chow tau foo, no?

And secondly... I do not have an "owner". I am not and never have been an employee of Benalec.

Unlike you who has many "friends" in Melaka who are/were "employed" by Benalec.

Please, peddle your bullshit elsewhere.

Posted by happyvic > 2015-05-08 17:56 | Report Abuse

Strange now there is a taciturm?

losing is just as kiddo as kukubird and where... you actually think people other than us gives a rats ass about what we say here? hmmmm...

Posted by losing > 2015-05-08 19:23 | Report Abuse

Taciturn ... tell us more points.

Posted by losing > 2015-05-08 19:24 | Report Abuse

So coincide 29 April 2015 HLIB announce completion of RM200 million bond issue. On 30 April 2015, receive litigation. TVB Drama meh. Since Taciturn said Sentosacove related to brothers and the MD owns share, theoretically he knew litigation will be coming in. As MD of listed company, he did not make declaration or informing to HLIB. Seems MD now full of ants too and biting him. Thanks Taciturn for revealing that MD owns 21% share. His brothers surely be happy to be witness that they have informed MD earlier with supporting document. If they have informed MD and MD did not reveal to bankers especially and / or investors, then big issue already especially i believe MD and management sign declaration that not major things happened and will declare if they made aware............................ Taciturn........... not sure who are u, the more u post, the more u reveal information that jeopardise Benalec.

Posted by taciturn569 > 2015-05-08 19:32 | Report Abuse

569 for taciturn.....hihihi

Posted by Ryanteh > 2015-05-09 17:29 | Report Abuse

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=507802:1mdb-shocker-new-documents-show-putrajayas-direct-ok-to-jho-low-linked-deals-amid-questions-over-najibs-stepsons-us$-100-mil-movie-investment&Itemid=2#axzz3Zd6QT4dg

Posted by vtep > 2015-05-09 21:15 | Report Abuse

losing, I am not sure who you really are. The more you post, the more you reveal to this forum that you are " where " reincarnated

Posted by vtep > 2015-05-09 21:21 | Report Abuse

losing :"Taciturn .............. now is litigation time. The more you post, the more information you will reveal out and not to the advantage of Ah Ben. Therefore, no matter who are you, i advised you to KEEP YOUR MOUTH SHUT or else one case settle, will see another case to your owner. I know you are good dog but dont la bite your own owner."
08/05/2015 17:34

HUMAN LANGUAGE please, losing

Posted by vtep > 2015-05-10 08:48 | Report Abuse

former Benalec B team is fighting back with a vengeance, with their macai-macai here so eager to have a bite on the MD
All the nonsense witnessed in this forum are nothing more than extension of boardroom tussle

Posted by vincentan > 2015-05-10 12:11 | Report Abuse

OK lah, just enjoy watching the new episodes of fight between Robber and Pirate.........

Posted by JKing > 2015-05-11 09:42 | Report Abuse

please allow me to share my thought. We are investor and what i am looking for is what is the potential claim impact. it did not mentioned in te announcement. If we know what is the dollar amount being suit, we can quantify what is the impact and we have a better picture whether should be buy, sell or hold.

All thought is welcome but let focus on the area in the perpective as an investor.

Posted by CaoCao > 2015-05-11 10:15 | Report Abuse

yes i agree with jking as don't know what price to average down but i think should have the news soon.

Posted by losing > 2015-05-11 10:31 | Report Abuse

The impact is lost of reclamation rights awarded by Sentosacove to Benalec.

Posted by losing > 2015-05-11 10:32 | Report Abuse

very sure brothers will lose and Benalec will win on legal suits

Posted by JKing > 2015-05-11 11:20 | Report Abuse

is the cost include to date is claimable? If you can be as specific, then we would have a clearer picture of the impact.

Posted by losing > 2015-05-11 14:19 | Report Abuse

Ask Taciturn.... think legal case caught Taciturn by surprise too else past weeks he can say vacation and later proven wrong.

Posted by ykloh > 2015-05-11 16:21 | Report Abuse

Taciturn, kindly give us the background of the legal suit and the relationship between plaintiff and Benalec. I believe one is a shareholder of the other. Thanks.

Posted by losing > 2015-05-11 16:42 | Report Abuse

Ah Ben now barred Taciturn already

Posted by losing > 2015-05-11 16:43 | Report Abuse

This Ah Ben never thought Taciturn has so many information in advance and later he tells brothers to against the MD.

Posted by taciturn > 2015-05-11 17:46 | Report Abuse

ykloh: I do not have any further information on the matter. I can only relay to you what I have stated before.

1) Sentosacove Sdn Bhd (SSB) as at the listing of Benalec is 70% owned by the three Leaw brothers (with each brother owning 1/3rd of that stake, i.e. 23.33% each). I have no idea who owns the other 30%. Note, this shareholding may have changed since listing

2) SSB is a concessionaire to reclaim land off Melaka. They granted Benalec a contract to do said reclamation in the latter part of 2010.

[Source: Benalec's IPO documents / Bursa announcements]

The contract was an in kind contract, with payment being given to Benalec in the form of reclaimed land. As is in most previous reclamation contracts, the lion's share goes to Benalec, with a smaller portion (typically 15-25%, depending, from what I have seen) goes to the client, in this case SSB.

3) To the best of my knowledge, said reclamation works have been completed / is near completion. Benalec has also sold some of the reclaimed lands that they received as payment for the contract.


My assumptions (note I have not spoken to management since before the suit):
1) The lawsuit was filed at the instigation of the two older Leaw brothers. As you can see from what has happened in the past, both of them are crooks who committed what amounts to breach of trust/breach of fiduciary duties including (but not limited to) unreported related party transactions of land sales to themselves.

Sour grapes dictate that they continue to cause as much trouble as they can to Benalec, even though their available options are limited.

2) Vincent Leaw likely was not aware that a suit was going to be filed. As I assume he only has one director's seat on SSB, he would have been in the minority even if he was aware. All it takes is for the two older brothers to call for an "emergency" meeting" of SSB, and table and vote on the filing of the suit.

It would of course be foolish for Vincent Leaw to be willing to sue his own controlled listed entity.

This of course does not speak much to the middle brother, who is still a substantial shareholder in Benalec. The apt phrase that comes to mind is, "Spitting into the wind" or "Setting one's self on fire".

3) From what I have heard from others who know Vincent Leaw, he does have a temper when sufficiently provoked. I suspect (or hope) this recent action by the two older brothers may inspire him to a "take no prisoners" mentality.

4) The suit makes little sense. As Benalec has almost (or already has) completed the contract, it begs the question as to what the issue is?

Posted by ykloh > 2015-05-12 00:32 | Report Abuse

taciturn:thanks.

Posted by JKing > 2015-05-12 09:41 | Report Abuse

if Sentova belong to the three brother, it is a related party transaction. I can't find any shareholder approval for this contract.

Posted by taciturn > 2015-05-12 09:53 | Report Abuse

The SSB contract was signed in September 2010.

Benalec's IPO was launched in December 2010.

The only shareholder approval needed by Benalec was by the Leaw family, since the company was still a Sdn Bhd at that time.

Posted by losing > 2015-05-12 11:04 | Report Abuse

wicked directors.... should let it sign between Benalec Sdn Bhd and person giving concessionaire. Now karma turning to them.

Posted by JustinM17 > 2015-05-13 11:42 | Report Abuse

everyday see red only the share price for this counter now.

Posted by losing > 2015-05-13 14:27 | Report Abuse

JustinM17 ......................u use RM2 million and buy it at RM0.90 sure we can see green

Posted by losing > 2015-05-13 16:05 | Report Abuse

Taciturn.... Benalec scared of you already. Believe they are cutting info to you already which i think they are doing right because you posting here especially during court case will put the brothers in advantage to see what is MD's thinking.

Posted by losing > 2015-05-13 16:06 | Report Abuse

Taciturn ..................... maybe u r spy sent by brothers ................

Posted by Vincent Tan > 2015-05-13 16:50 | Report Abuse

losing, do you have an personal score to even with taciturn? you sounded very emotional in your writing towards taciturn

Posted by losing > 2015-05-14 10:05 | Report Abuse

Taciturn too ego pretending he is like expert and close to MD / Company. I hate his / her ego

Posted by happyvic > 2015-05-14 11:10 | Report Abuse

You must be a kid then... taciturn backs his statements up with facts and dates... which is much appreciated... go double confirm it yourself... you absorb his facts... and make your own judgement...

don't be posting rubbish like what the others have done... and making statements based on your tarik session with your friends... emo kid..

again... so what if he is close to the MD? you also want to be close to the MD?

Posted by VinTan > 2015-05-14 11:22 | Report Abuse

losing, this forum is not about taciturn. If you do not like him, settle the uneven score elsewhere. Before you get carried away with the emotional stuff, please take into consideration that this is Benalec forum, and open your eyes to see that many here appreciate his contribution.

The forum is a platform for exchange of ideas, thought , and information. Please not do plaque it with irrelevant postings

Posted by happyvic > 2015-05-14 11:42 | Report Abuse

You must be a kid then... taciturn backs his statements up with facts and dates... which is much appreciated... go double confirm it yourself... you absorb his facts... and make your own judgement...

don't be posting rubbish like what the others have done... and making statements based on your tarik session with your friends... emo kid..

again... so what if he is close to the MD? you also want to be close to the MD?

Posted by losing > 2015-05-14 16:28 | Report Abuse

this Taciturn simply share info without considering its impact which can cause the MD into big trouble. See my earlier post. Taciturn revealed that MD is shareholders of Sentosacove. If brothers serve notice to him about Sentosacove is suing Benalec and the MD did not inform the regulatory before fund raising e.g. SC, Bursa and HLIB, he can be sued and need to go to jail.

Posted by taciturn > 2015-05-14 16:34 | Report Abuse

The details of the brothers shareholding for Sentosacove Sdn Bhd is a matter of public record.

And when I say public record, I do not mean going to the Companies Commission of Malaysia and paying RM10 to do a search on said company.

It is shown very clearly in Benalec's IPO documents which can be found here at:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4356713

Hence why I stated in my previous posting that this shareholding may have changed since listing.

Even a muppet can download the listing documents at the above a link and find out these details themselves.

Posted by losing > 2015-05-14 17:14 | Report Abuse

So many Taciturn nowadays. Tacitum, Taciturm, Taciturn, Taciturn 569. Seems Benalec is associate with Taciturn. My point is if u dont highlight, no one will aware of legal process. His brothers may see it at this i3 Investor and will act according what i said

Posted by happyvic > 2015-05-14 17:25 | Report Abuse

eh, stop being a kid la.. only you not aware... everyone is aware...

Posted by taciturn > 2015-05-14 17:29 | Report Abuse

So, the points you are making is.

Obviously if I do not highlight these issues, no one would know that Benalec has been sued by SSB. The fact that there is a bursa announcement for it as well as articles in the mainstream media notwithstanding.

Obviously, the two older brothers do not know their youngest brother is a shareholder of SSB.

Obviously, they do not monitor how Benalec is doing, what relevant announcements are being made by the company. Even though the middle brother is still a major shareholder of Benalec.

Obviously, if I had not mentioned this on this forum, they would have absolutely no clue about this and what legal steps to take. Never mind the fact that they have filed the initial suit.

Thank you for you give me an amazing amount of credit that what I relate here can be used as legal ammunition on their part.

You are of course wrong in whatever you have said, but hey, that is my personal view.

Posted by vtep > 2015-05-14 22:28 | Report Abuse

" His brothers may see it at this i3 Investor and will act according what i said"14/05/2015 17:14

Do you seriously think the brothers will bother with what you wrote here ?
They may not be even reading any of the postings in the forum !
Could you have overestimated or 'over carried' yourself ?

losing, at one time I thought you were " where " in disguise. Now you sound like a kid to me

Posted by taciturm > 2015-05-15 11:21 | Report Abuse

Ryanteh : Benalec Proposed Reclamation and Development of Pengerang Maritime Industrial Park at Teluk Ramunia, Johor, Malaysia EIA Reports Not Approved DEIA.
http://www.doe.gov.my/eia/wp-login.php?redirect_to=http%3A%2F%2Fwww.doe.gov.my%2Feia%2Feia-reports-not-approved-peia-deia-2%2F&reauth=1
06/05/2015 12:38

taciturn : Confirmed, Pengerang status not approved on DOE's EIA site.

Will post an update if I learn more.
06/05/2015 12:49

Posted by VinTan > 2015-05-15 11:24 | Report Abuse

Losing, do you mean to say that had taciturn not revealed the fact here , the SC , Bursa and HLIB would not have known that the MD is one shareholder of Sentosacove ?

You posted this on 14/05/2015:

"this Taciturn simply share info without considering its impact which can cause the MD into big trouble. See my earlier post. Taciturn revealed that MD is shareholders of Sentosacove. If brothers serve notice to him about Sentosacove is suing Benalec and the MD did not inform the regulatory before fund raising e.g. SC, Bursa and HLIB, he can be sued and need to go to jail."

Posted by happyvic > 2015-05-15 15:38 | Report Abuse

Yeap, I thought he was "where" and "whowhere" who got blocked...

The brothers sit in front of computer and monitor online forums for their company news...hahaha

Posted by losing > 2015-05-18 10:36 | Report Abuse

http://www.sarawakreport.org/2015/05/jho-low-how-pm-agreed-plans-to-make-usd500m-minimum-profit-from-insider-deal-against-cimbmaybank-exclusive/