Posted by Ryanteh > 2015-05-18 11:13 | Report Abuse

http://images.bernama.com/foto/pages/view.php?ref=272856&search=General+News&order_by=resourceid&sort=DESC&offset=32&archive=0&k=

Posted by losing > 2015-05-18 14:03 | Report Abuse

30 June 2015 is coming. Will we be receiving RM0.0003 dividend again?

Posted by happyvic > 2015-05-18 16:57 | Report Abuse

you will be receiving nothing you dimwit... the RM0.0003 is scheduled February next year

Posted by CaoCao > 2015-05-18 18:48 | Report Abuse

Leaw wars 2 - the empire strikes back.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4740041

Posted by happyvincent > 2015-05-19 09:21 | Report Abuse

Benalec Holding MD remuneration is paid RM8million. But the total dividend to be paid to all shareholders’ is only RM2.4million. This is ridiculous !!!!!!

Directors’ Remuneration of Benalec Holding VS Eco World Development Group Berhad.

Benalec Holding Directors’ Remuneration.
From 2014 annual report. They boast that BENALEC management has been very transparent about it.
No. of Directors - 6
Range of Remuneration Executive Directors Non-Executive Directors Total :
RM250,000 to RM300,000 - 1 Independent Non-Executive Director
RM300,001 to RM350,000 - 2 Independent Non-Executive Directors
RM350,001 to RM400,000 - 1 Executive Director
RM400,001 to RM450,000 - 1 Executive Director
RM7,500,001 to RM8,000,000 -1 Executive Director

Eco World Development Group Berhad Directors’ Remuneration.
The number of Directors whose total annual remuneration falls within the following bands is as follows:-
No. of Directors – 9
Below RM50,000 – 1 Independent Non-Executive Director
RM50,001 to RM100,000 – 4 Independent Non-Executive Directors
RM150,001 to RM200,000 – 2 Independent Non-Executive Directors
RM850,001 to RM900,000 - 1 Executive Director
RM1,200,001 to RM1,250,000 - 1 Executive Director

The remuneration package paid to Benalec Holdings Bhd’s group managing director Datuk Leaw Seng Hai, which has been labelled “excessive”, has roused the ire of some minority shareholders.They claimed that Leaw’s remuneration ranges between RM7.5 million and RM8 million in the group’s financial year ended June 30, 2014 (FY14), which is comparable to Benalec’s full-year net profit that year, which was RM7.12 million.
http://www.theedgemarkets.com/my/article/benalec-md%E2%80%99s-remuneration-questioned

Listen to the Business Radio Station BFM 89.9 to hear how they comments the higher paid of Benalec Holding RM8million to MD remuneration.
http://www.bfm.my/biztalk-dom-141223.ht

Posted by yahomenelson > 2015-05-19 16:50 | Report Abuse

chibai lol

Posted by latestinfo > 2015-05-19 19:00 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4740041

Posted by Ah Ha > 2015-05-20 13:27 | Report Abuse

Why all the Benalec supporter so quiet? No Good news to share?

Posted by losing > 2015-05-20 17:03 | Report Abuse

what brothers can get if either side win the legal case? Brothers should involve in other industries like construction, trading, developer and etc and let go instead suing here and there causing public to suffer. Please do more good deeds for your next generation and pain when in hell. All this happen is because past karma.

Posted by happyvic > 2015-05-20 18:10 | Report Abuse

more no brainer talk... you don't feel embarrassed talking like that in public ah?

Posted by ymtan > 2015-05-21 08:15 | Report Abuse

Wil Ben be benefit from the 11MP announce by today ??

Posted by merryman > 2015-05-21 08:21 | Report Abuse

This is a good counter that's worth our support.

Posted by Bently > 2015-05-21 08:35 | Report Abuse

http://maritime.bernama.com/news.php?id=548205&lang=en
http://www.bernama.com/bernama/v8/ge/newsgeneral.php?id=1136139

Posted by Bently > 2015-05-21 09:06 | Report Abuse

Benalec take part in the Penang Seri Tanjung project?

Posted by Ah Ha > 2015-05-21 09:29 | Report Abuse

Benalec This Q result coming.. up. up... ha..ha..

Posted by Bently > 2015-05-21 10:25 | Report Abuse

http://www.themalaysianinsider.com/malaysia/article/former-tanjung-offshore-executive-director-detained-in-graft-probe

Posted by taciturn > 2015-05-21 10:45 | Report Abuse

Bently: What is the relevance of the Tanjung Offshore situation with regards to Benalec...?

And the same question about your two other web links. The first one is about a foreign vessel that sank in December 2010.

The second one is about a sand barge that sank yesterday.

Could you explain their relevance to Benalec?

Posted by rizerlee > 2015-05-21 17:13 | Report Abuse

just feel like upcoming quarter report wouldn't look good.
they already materialize sales of Melaka land completed last year ?

Posted by taciturn > 2015-05-21 17:27 | Report Abuse

rizerlee: None of the Ultra Harmony stages (RM235m/128.52 acres) has been booked as yet.

I believe they will either be booking both stages 1 and 2 (out of 4) for the upcoming quarterly results (Q3 - ending March) or in the next quarter (Q4 - ending June).

Not sure how good this upcoming quarter's results will be. Pretty sure it will be profitable though. Since the Ultra Green/Boon Siew (RM203m) reclamation job started in early February, they'll likely have pushed things as much as possible since it's a progress payment job and the first payment would have been pretty decent.

Not sure accounting wise if it can be booked on a month to month basis (assuming it is a monthly billing cycle), but I am assuming it is since other construction jobs follow the same accounting principles as far as I know.

Posted by happyvic > 2015-05-21 18:02 | Report Abuse

yeah, I used to be in construction and we usually bill clients on a monthly % completion basis. hope its the same here

Posted by losing > 2015-05-22 11:17 | Report Abuse

Seems that we expecting to see staff cost for Benalec will increase dramatically since they employed Taciturn as official spokesperson.

Posted by happyvic > 2015-05-22 11:26 | Report Abuse

hey losing... don't be posting things straight out of your head... process a little..

Posted by adrian0229 > 2015-05-25 09:59 | Report Abuse

benalec still sleeping? Im giving up on u

Posted by taciturn > 2015-05-25 19:36 | Report Abuse

Q3FY15 Results are out.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4749761

Revenue: RM12.933m
Net Loss: RM9.014m

Surprised at the results, and very disappointed overall. I was expecting this to be a profitable or breakeven quarter at the very least.

Key points (from my perspective):

1) Admin and other expenses was RM14.742m (compared to RM7.049m in the last quarter)
A little confusing to understand this, but from the notes to the account for 16.1 (3), it states that this increase was mainly due to "loss on unrealised forex recognised in current year to-date (Q3'15: RM8.2m; Q3'14: RM4.0m).

I wish they would break this category down further. It would be nice to see what are actual admin expenses and what are financial expenses.


2) The disposal to Faithview Supreme Development Sdn Bhd (RM51.47m / 29.54 acres) did not happen in this quarter as was expected. The notes to the account for last quarter stated that the disposal was expected to be completed within 1QCY15.

The notes now stat that completion is expected within 2QCY15.

Am disheartened at this delay. With this transaction, the quarter would not have shown a loss.

3) Ultra Harmony Development Sdn Bhd status (128.52 acres / RM235.13m)
None of the phases have been booked as revenue as yet as expected.

Was somewhat surprised that reclamation has not been fully completed as yet (even though they are still ahead of schedule).


LPD: Feb 4. 84 acres (65.4%)
LPD: May 18. 108.98 acres (84.8%)

In 72 days they have reclaimed from 84 acres (65.4%) to 108.98 acres (84.8%) as at 18 May 2015. That works out to about 3 days to reclaim 1 acre. This means they should have fully completed reclamation works by the time Q4FY15 results are out.

Am still expecting them to book revenues for phase 1 and 2 at the same time (roughly half the contract, RM117m) in Q4FY15. But with the disappointing surprise of Faithview Supreme not being booked in this quarter as expected, I would be wary of further surprise delays

As a reference though, in the original EGM circular (10 June 2014), the estimated time frame of completion was:

May 2015 - phase 1
Oct 2015 - phase 2
Feb 2016 - phase 3
July 2016 - phase 4

The latest notes to the account state that they expect completion in 1QCY16, meaning phase 4 by Mar 2016.


No changes to the expected completion dates for the other land sales announced. Was also mildly disappointed that the Ultra Green/Boon Siew contract (RM203m cash/415 acres) did not merit much of a mention to the notes to the account. It would have been nice to know how far along the job is progressing.

Also, no further elaboration regarding the Sentosacove Sdn Bhd suit with regards to what kind of reliefs are being sought. This probably means it is not a suit for damages but specific performance.

Also, a reminder. The term sheet with 1MY Strategic Oil Terminal Sdn Bhd expires on 11 June 2015. I fully expect that it will not be renewed any further. Whilst realistically, I feel this does not mean anything (there are other potential offtakers to speak to), you might expect a knee-jerk reaction from the market by those who have no clue.

Posted by CaoCao > 2015-05-25 19:51 | Report Abuse

Thanks Taciturn.

Posted by Helena > 2015-05-26 09:56 | Report Abuse

Thanks taciturn .. hater gonna hate but i feel what you did is COOL ~ hope to give you moral support before haters come bombarding .. haha

Posted by taciturn > 2015-05-26 10:22 | Report Abuse

Thanks guys. Am trying to call things as I see it, good or bad.

Posted by Kukuman > 2015-05-26 10:27 | Report Abuse

Posted by Kukuman > Jun 17, 2014 09:35 AM
Let's put it into another chart to see a more realistic stock performance.
13/11/2013 (Day 001) : 1.120
25/03/2014 (Day 131) : 0.920
28/03/2014 (Day 134) : 0.900
01/04/2014 (Day 138) : 0.890
03/04/2014 (Day 140) : 0.885
04/04/2014 (Day 141) : 0.905
08/04/2014 (Day 145) : 0.895
10/04/2014 (Day 147) : 0.895
14/04/2014 (Day 151) : 0.895
17/04/2014 (Day 154) : 0.900
23/04/2014 (Day 160) : 0.935
30/04/2014 (Day 167) : 0.900
05/05/2014 (Day 172) : 0.895
06/05/2014 (Day 173) : 0.940
16/06/2014 (Day 214) : 1.120
26/06/2014 (Day 224) : 1.140
09/07/2014 (Day 237) : 1.090 (Spin doctors said price will go up after EGM. Don't get conned!)
30/07/2014 (Day 258) : 1.090
01/08/2014 (Day 260) : 1.050 (Some cock here claimed holding for long. Don't get conned! Only good for contra player here)
05/08/2014 (Day 264) : 1.050
07/08/2014 (Day 266) : 1.050 (Spin doctors still claimed hold many. typical bull story)
11/08/2014 (Day 270) : 1.020
13/08/2014 (Day 272) : 1.000 (Spinner said after EGM, price will go up. when?)
22/08/2014 (Day 281) : 0.990 (So sad. one by one, innocent investor come out telling they had bought high after taken-in by spinner's story)
26/08/2014 (Day 285) : 0.925 (Spinner now said this is an Extra Long term stock. Extra Long?)
29/08/2014 (Day 288) : 0.920
12/09/2014 (Day 302) : 0.925 (Spinner said he is FULLY invested in mr ben)
22/09/2014 (Day 312) : 0.920 (Spinner said bond issue is good. what a spin!)
07/10/2014 (Day 327) : 0.875
17/10/2014 (Day 337) : 0.810 (The old spinner retired. Now come a new one)
24/10/2014 (Day 344) : 0.850 (coming to full year of 365 days)
18/11/2014 (Day 369) : 0.800 (spinner is back promoting new story. beware!)
26/11/2014 (Day 377) : 0.740 (New low)
01/12/2014 (Day 382) : 0.665 (New low. FULLY invested spinner in mr ben is either bleeding or give up his spin story)
11/12/2014 (Day 392) : 0.610 (King of spinner is back with long post again. beware! The more he talk, the price get lower)
16/12/2014 (Day 397) : 0.535 (New low)
23/12/2014 (Day 404) : 0.590 AGM AGM AGM. Spinner gives "live" updates in this forum about AGM. believe? After that post extra long comments.
06/01/2015 (Day 418) : 0.630 Price depressed for so long, but shameless king of spinner is still around promoting mr ben
22/01/2015 (Day 434) : 0.750 Someone complained I should track price based on lowest price 0.535! that's so deceiving!
23/01/2015 (Day 435) : 0.750 No DOE announcement. King of spinner caught lying again !
26/01/2015 (Day 438) : 0.720 Thick skinned king of spinner still has the audacity to scold people after caught lying
28/01/2015 (Day 440) : 0.805 The market didn't give a damn to the doe approval news.
03/03/2015 (Day 474) : 0.830 DOE approval come and go. The market didn't give a damn to the doe approval news. Don't be taken for a ride by king of spinner
27/03/2015 (Day 498) : 0.805 DOE approval still no impact. pity
31/03/2015 (Day 502) : 0.785 So many still in denial. This is rubbish company
06/04/2015 (Day 508) : 0.735 Where have all the idiot spinners go? so deafening now!
25/05/2015 (Day 557) : 0.705 Q1 making losses ! judge yourself

I am tracking this rubbish company share performance

Posted by Kukuman > 2015-05-26 10:32 | Report Abuse

The infamous quotes by king of spinner - "FULLY invested in mr ben & this is an Extra Long term stock"
Currently share price continues going down to abyss. didn't I warned you all about mr ben !

Posted by Kukuman > 2015-05-26 10:38 | Report Abuse

Helena, the king of spinner is just trying to save his/her face justify his/her case on mr ben unashamedly. this company already doomed long time ago ever since the company scandal became public knowledge.

Posted by Helena > May 26, 2015 09:56 AM | Report Abuse
Thanks taciturn .. hater gonna hate but i feel what you did is COOL ~ hope to give you moral support before haters come bombarding .. haha

Posted by Vincent Tan > 2015-05-26 10:50 | Report Abuse

K-man always appear and tok kok when Ben is knocked down
to make money in stock investing , one has to buy low and sell hug
so, in a way, presense of K-man can be taken as a buy signal

Posted by Vincent Tan > 2015-05-26 10:54 | Report Abuse

after his previous round of kok talking, Ben surged from 0.53 to 0.925

Posted by Kukuman > 2015-05-26 11:27 | Report Abuse

stupidity has no boundary. please infest others. let see how long you will get stuck from today assuming now you just bought at 0.68c

Posted by Vincent Tan > May 26, 2015 10:54 AM | Report Abuse
after his previous round of kok talking, Ben surged from 0.53 to 0.925

Posted by happyvic > 2015-05-26 11:47 | Report Abuse

Lol... agree with you Vincent... dodobird appears again.... meaning good sign to buy in...hahaha... he was my lucky charm the previous round

Posted by Kukuman > 2015-05-26 12:00 | Report Abuse

still trying to put up a brave face after got stuck for so long. pity

Posted by Vincent Tan > 2015-05-26 12:02 | Report Abuse

share can go down as well as well as up in a cyclical manner
some gained from the up trend and some lost on the down trend
it's a matter of timing, apart from the fundamental side. From your words of sour grapes, I guess you only have taken the downside of Ben.
Grow up man, don't cry like boy when the going gets ugly

Posted by Vincent Tan > 2015-05-26 12:07 | Report Abuse

Ben may stay low for coming 3 months(barring any positive news) and that presents opportunity to buy on weakness. Investors who believe in Tg Pial should stay on the sideline and be ready when opportunity presents itself

Posted by Kukuman > 2015-05-26 12:23 | Report Abuse

good try dude. continue hoping for miracle. my last visit this forum more than 1.5 months. things haven't improve but getting worse and now company making losses. and you seem very happy with the Q1 results. further more, you still looking forward for "opportunity presents itself". oh my. the crying boy is you.

Posted by happyvic > 2015-05-26 13:09 | Report Abuse

kukubird still sobbing over losses? been such a long time... This is the time we want in again... release at a higher price... doesn't have to be 1.20 you dong...

Posted by Vincent Tan > 2015-05-26 13:49 | Report Abuse

I seem very happy with the Q1 results? K-man , you do seem to leap too far in reading my posting, or is that your standard way of misquoting others, so that you can win your arguement?

By the way, for someone who have disposed Ben at 80-82 cts ( well ,missed the recent peak, and secondary peak on first rebound) , I do stand to gain from the current price movement, so I have every reason to be happy. But, I always wish others well and won't redicule people for investing in Ben, that is what I am, a life contented man.
If you think I only made up this story go read my previous posting on 16/4 , 9.07am
I may be looking for a re-entry point, but I will not conderm Ben hoping some will buy my posting and sell down Ben and so that I can buy even lower.

Anyway, I do not think any of the postings here matter to the wider investing public out there, I will not overestimate myself

So K-man, it is also about timing. Do not grumble, curse, conderm Ben like an emotionally disturbed if you did not manage to grape the ' sour grapes '

Posted by speakup > 2015-05-26 14:41 | Report Abuse

Huge quarterly loss! Why?

Posted by Ah Ha > 2015-05-26 17:38 | Report Abuse

Hugh Quarterly loss.
is it same case again.
Directors get hugh remuneration again this Q?
Why Happy* & turn* challenge all directors to cut their remuneration?
May be Happy* and Turn* are the directors... just guessing....
They are killing the company slowly..

Posted by Vincent Tan > 2015-05-26 18:53 | Report Abuse

speakup, land reclamation business is very lumpy in nature. Sales partially completed will not be registered as profit in the reporting quarter, and so profit will not be consistent from Q to Q, with some Q reporting low profit or even loss to be possibly followed by good profit in the subsequent Q when proft of current sales is registered ,and this is what presents trading opportunities

Posted by ykloh > 2015-05-26 19:23 | Report Abuse

Due to the nature of its business, its accounting statements need some effort to understand. Can someone kindly enlighten me on the following 2 items in its Statement of Financial Position for 31.03.2015:

1) Trade and other receivables - increased by RM337m to RM737m from RM399m as of 30.06.2014

Posted by ykloh > 2015-05-26 19:34 | Report Abuse

Due to its nature of business, its accounting statements need some effort to understand. Can someone kindly enlighten me on the following item in its Statement of Financial Position for 31.03.2015:

Trade and other receivables- increased by RM337m to RM737mfrom RM399 as of30.06.2014. Logically,an increase of this nature is due to sales concluded, booked but payment not yet collected. But in that 9 months, Benalec only had a revenue of RM121m.

Thank you.

Posted by taciturn > 2015-05-26 20:27 | Report Abuse

ykloh: You've got that correct, I believe. I prefer to compare the figures between 2QFY15 and 3QFY15.

Trade and other receivables went from RM380.6m to RM737.2m.

As any increase in Assets must have a corresponding increase in the Equites and Liabilities section, Deferred revenue (under Current liabilities) also increased from RM130.8m to RM533.6m.

There's also a slight mismatch between those figures as at the same time "Land reclamation WIP" has also increased under current assets.

Bear in mind that both these entries are designated "current". Meaning that payment is expected within a 12 month period.


Revenue for the 9 month period has been RM121m because of the lumpy accounting nature again.

Accounting wise, the auditors do not want to recognise any form of progress payment.as per the Jadex Land/ Arena Progresif land sales. I.e. even though 10% is paid on signing of SPA, 20% within 6 months of that, 30% within 9 months of that etc, the money is banked in but it is not booked as revenue.

In that situation, whenever a progress payment is made, in the balance sheet, cash increases, trade receivables decreases. Deferred revenue still stays the same.

It is only when the final payment is _made_ (not billed, but made) that 100% of the SPA is booked from deferred revenue to revenue.

Cash flow wise, those deals make some sense. Accounting wise, they do not. Unfortunately, that is something that is out of Benalec's control since it is up to the auditors based on their own auditing standards.

The only exception for the big land deals that have been announced is Ultra Harmony. As the SPA itself split it up into 4 phases, when a payment is made for a particular phase (again, payment made, not just the client being billed), then that phase is booked in full as revenue.

Posted by losing > 2015-05-27 08:23 | Report Abuse

no money still buying so many assets..... something fishy ..... can anyone know details of fixed assets acquired?

Posted by CaoCao > 2015-05-27 09:54 | Report Abuse

donno wan hold or not, any suggestion?

Posted by yahomenelson > 2015-05-27 10:17 | Report Abuse

Advise : Cut lose and go to other counter..........Tips : AHP

Posted by ykloh > 2015-05-27 10:33 | Report Abuse

taciturn: Thank you.