Posted by Vincent Tan > 2015-06-03 13:17 | Report Abuse

I am a fisherman ? wake up ah ha, everybody tries to catch a fish here !if not why bother to invest? for fun?
Don't blame people for catching a fish , improve your fishing techniques

Posted by Vincent Tan > 2015-06-03 13:25 | Report Abuse

haha, you fished with your fox's tail exposed

Posted by happyvic > 2015-06-03 15:35 | Report Abuse

dumbfarks will be dumbfarks... like I said... lost his money and grumbling in here hoping everyone loses... grow up kid... you had your timing wrong... none of us care about your info.

Posted by Ryanteh > 2015-06-03 19:14 | Report Abuse

MATERIAL LITIGATION BENALEC HOLDINGS BERHAD (THE "COMPANY") KUALA LUMPUR HIGH COURT SUIT NO. 22NCVC-204-04/2015

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4763593

Posted by taciturn > 2015-06-03 19:33 | Report Abuse

Further update regarding the lawsuit by Sentosacove Sdn Bhd against Benalec, as well as Benalec's own countersuit against Sentosacove.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4763593

Of interest to me was this paragraph:

"In relation to the potential financial/operational impact of the cited litigation on the Group, it is difficult to estimate accurately such impact as it is dependent on the Court’s decision. It is, however, instructive to be guided by the sharing ratio between BSB and SSB of 95% to 5% of the reclaimed land after allocating one-sixth of all reclaimed land to the Melaka State Government, and the strong grounds on which the Group is basing its legal action."

I was under the impression that the sharing ratio was in the range of of 15%-20 for SSB. At 5% it showed that the Leaw family had good intentions in granting the reclamation job to Benalec without overly profiting from it via their private interests.

No wonder the two older brothers are suing. Pure sour grapes after they were caught for their breach of trust, and now they want a bigger piece of that pie since the elder of the two has already lost out on the biggest pie there is (his interest in Benalec Holdings Bhd).

Posted by Vincent Tan > 2015-06-03 21:38 | Report Abuse

taciturm, what is it that you want to say?
I don't get you, am sure not many get you, why waste your effort posting something people don't get
say-lah something,put forward your point straight

Posted by Vincent Tan > 2015-06-03 21:43 | Report Abuse

don't be shy, pussy pussy

Posted by CaoCao > 2015-06-04 08:18 | Report Abuse

taciturm is following Taciturn... that's call door mouth dog aka 门口狗. U see the name also identical what!!

Posted by VinTan > 2015-06-04 09:44 | Report Abuse

CaoCao, do you get any message from his posting ? I do not get what his point is

Posted by taciturn > 2015-06-04 10:09 | Report Abuse

Heh.

That person is making a long, spammy posting after mine in hopes that people will avoid reading my postings.

And to avoid getting banned, he deletes said spammy post, and reposts it again whenever I write something. In his account, he will perpetually have only one long spammy post.

I am sure most of the forum regulars can guess the identity of this person.

Psst, I will give you all a hint. It is someone who is too scared to try to debate on my points rationally and who gets irked when he is unable to do so.

Just ignore him. Regulars here are smart enough to differentiate which are the real postings.

Cowardice lah, what to do.

Posted by CaoCao > 2015-06-04 10:25 | Report Abuse

Yes i know VinTan, that's call natural instinct, follow people and barking all the way in it's path. So Taciturn, next time it follow u again, pls be sympathy. It's a good dog anyway... .

Posted by Vincent Tan > 2015-06-04 16:55 | Report Abuse

taciturm, you are very sick

Posted by Ah Ha > 2015-06-04 17:07 | Report Abuse

http://www.theedgemarkets.com/my/article/directors-loss-making-airasia-x-will-forfeit-rm434658-fees

Directors of loss-making AirAsia X will forfeit RM434,658 in fees

Can Mr. Ben do the same?

Posted by losing > 2015-06-04 18:12 | Report Abuse

u think the directors will return back the fee?

Posted by Kukuman > 2015-06-05 10:06 | Report Abuse

losing. they will but on another form. they are very creative people

Posted by happyvic > 2015-06-05 13:24 | Report Abuse

so much bullshet in this forum nowadays... so much spam by a few dogs.. feels like the same person talking to himself..

Posted by losing > 2015-06-05 14:04 | Report Abuse

they are cash rich for having RM200 million. They can use it to declare dividends.

Posted by ymtan > 2015-06-08 11:22 | Report Abuse

Hi sifu taciturn. . Any news on 1MYSOT which the dateline is 11 June ??? or will any new off taker is in the picture ?? Thanks ya.

Posted by ymtan > 2015-06-08 11:30 | Report Abuse

Will it be further delay on the 1MYSOT dateline of negotiation ?? Or this dateline is the final ??

Posted by taciturn > 2015-06-08 11:33 | Report Abuse

ymtan: Am almost dead certain that the term sheet with 1MYSOT will not be renewed. The middle eastern party liasing with them has been dragging their feet, and I am sure Benalec as well as the principals in 1MYSOT are extremely frustrated.

Regarding other off-takers, from what I know there are a couple of potentials that Benalec has been speaking to. I do not know their exact identities though (understandable, since all negotiations are hush-hush), so I cannot give you a 100% guarantee that what I have learned is factual.

Personal viewpoint, considering how bad the KLCi is at the moment, I am assuming that the market will react badly come the deadline, unless some other positive news crops up.

Sorry, do not really have much information at the moment. Have not spoken to anyone in management for a while as I am fairly tied up right now.

Posted by rizerlee > 2015-06-08 11:37 | Report Abuse

Besides 1MYSOT ,

maybe Benalec should talk to international player and also Jurong refinery straight.
Petroleum storage industry are now hot cake.

No point to look at 1MYSOT alone but also other possible partner in order to diversify company's risk.

Posted by rizerlee > 2015-06-08 11:38 | Report Abuse

any , 1MYSOT's fund from Malaysia Federal Government as well ?
or 1MDB ?

Posted by taciturn > 2015-06-08 12:03 | Report Abuse

rizerlee: 1MYSOT is just an agent or middle man. Benalec negotiates with them through its 70% owned subsidiary (Spektrum Kukuh Sdn Bhd), and 1MYSOT negotiates with an Abu Dhabian state investment corporation.

If an agreement had been signed, payment would be made from the Abu Dhabi firm to 1MYSOT which takes a percentage as the agent, with the remainder being paid to Spektrum Kukuh. Overall 1MYSOT does not need much in terms of funds to operate.

Posted by ymtan > 2015-06-08 13:52 | Report Abuse

Thanks taciturn ... agree with you .. hopefully there will be some positive news by this week.

Posted by taciturn > 2015-06-09 10:22 | Report Abuse

I get my information either from officers of the company, personal research or from members of interested industries.

Posted by cw_tan > 2015-06-09 22:53 | Report Abuse

Wishing positive outcome tomorow

Posted by happyvic > 2015-06-10 12:17 | Report Abuse

why today? whats happening today?

Posted by Vincent Tan > 2015-06-10 16:34 | Report Abuse

nothing happens , term sheet with 1MYSOT expires today

Posted by ymtan > 2015-06-10 18:02 | Report Abuse

Not expires tomorrow meh ??

Posted by Vincent Tan > 2015-06-10 18:45 | Report Abuse

then we keep our hope for one more day

Posted by losing > 2015-06-11 13:50 | Report Abuse

any differences and similarity between 1mdb and 1my strategic oil terminal? better ask rafizi and tony pua to look into this.......

Posted by happyvic > 2015-06-11 16:12 | Report Abuse

Today is tomorrow... nothing happening.. lol

Posted by ymtan > 2015-06-11 16:47 | Report Abuse

Zzzzzz... broken heart

Posted by Harold Huong > 2015-06-11 17:17 | Report Abuse

Dead Line bukan Dateline...what is latest news about 1MYSOT?

Posted by Harold Huong > 2015-06-11 17:18 | Report Abuse

Pray for Nepal, Pray for Ranau, Pray for 1MYSOT

Posted by taciturn > 2015-06-11 18:09 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4770633

1MYSOT term sheet expiry announcement.

As expected, it is not being renewed.

Posted by viktor2u > 2015-06-11 18:11 | Report Abuse

Could you please advise me what happen later, the deal is concluded or not, good news or bad ?

Posted by ymtan > 2015-06-11 18:20 | Report Abuse

Taciturn. As expected .. we can smell it from stock price movement in recent .. well. That's sound deflated to me although I'm still hoping it till the final day... so, what the incoming news might grab the interest of ours

Posted by taciturn > 2015-06-11 19:35 | Report Abuse

viktor2u: Realistically, it makes no difference. Since last year it looked pretty clear that no deal through 1MYSOT would happen.

Personal view on the this:
The bad: Market might react negatively to the news. Those who do not follow the company closely will give the standard, "Die lah!" exclamation.
The good: Benalec is free to sell phase 1 of Tanjung Piai to other potential offtakers. The term sheet stated that phase 1 negotiations were exclusively with 1MYSOT. FYI, from my understanding, phase 1 is the most "attractive" of the three phases.


ymtan: Well, here's to hoping for better news ahead. Personally, I am a fairly pessimistic about the market right now since there seems to be a lot more bad news going around than good. Even my blue chip holdings took a hit, although being blue chip I am not too worried. Just depressing to see the net worth going down lah.

Posted by Vincent Tan > 2015-06-12 08:45 | Report Abuse

still the same old crab, cant't you post something new? I am bored to death seeing the same stuff over and over again, kao meng ah!

Posted by Vincent Tan > 2015-06-12 08:49 | Report Abuse

focuslah on the money, not the personal stuff

Posted by taciturn > 2015-06-12 10:52 | Report Abuse

This incident occurred almost up to two years ago. The articles are more than a year old.

As can be seen, the "expert" in this forum (ryanteh) who said that Benalec will be a PN17 company if the convertible bond issue did not go true is still posting old articles. I take it you cannot find any new material to post here?

I am surprised though that Bently has not joined in the horde further by posting links to irrelevant articles on this forum. Previous said postings included links to incidents involving Tanjung Offshore, Sime Darby, MPIC and also a news report about a barge with chinese nationals sinking off the coast of Malaysia.

All these articles have something in common, they have absolutely nothing to do with Benalec. When I asked why Bently posted said articles, surprise surprise, there was no reply.

Stay tuned folks as jjwong's clone will soon chime up with his regular posting about the directors remuneration, whilst the other has been will be here to show you a historical share price chart as he "defends" people against Benalec, and finally the photocopy of "where" will come up with another bunch of inanities about the company.

Posted by JustinM17 > 2015-06-12 11:08 | Report Abuse

0.585! I din see that coming! LOL! was only away for a week or so. Market is quite bad recently but this co shares is worst! still holding this shares at higher price.. still praying each day it will goes back up.

Posted by JustinM17 > 2015-06-12 11:12 | Report Abuse

anyway @Taciturn, after reading previous comments i can see that you r very supportive towards this company no matter what news or what debate other people shoot at you and i can see you did spend a lot of time replying on all the comments posted here compare to what you have posted to other shares forum.
makes me wonder are you one of the staff or major shareholders in this co? u r like writing essay all the time which do provide good info tho sometimes.
any more insider news?

Posted by JKing > 2015-06-12 11:35 | Report Abuse

lose out, unexpected redraw from Tg. Piai, that say hope for pengerang is very low.

Posted by taciturn > 2015-06-12 11:35 | Report Abuse

junstinm17: I have posted this point again and again... and now, again.

I am not an employee of Benalec.

I am not a director of Benalec.

I do not have any business dealings with Benalec.

What I am, is a shareholder of Benalec.

On a personal level, I enjoy doing fundamental research on companies that I am interested in. Unfortunately, as this is not my professional job, I am limited in time and effort I can put in.

I can either cover a bunch of companies to some measure and give a half-baked analysis of them.

Or concentrate on one or two, and focus on them and give a reasonably decent analysis.

What differentiates me from other investors? I actually put in the damned effort needed to do analysis. Do not believe me? Look at this forum. There are so many posters who ask the same... damned... question again and again. They cannot even be bothered to look at previous postings to see if the answer to queries are there.

I take the effort to pick up the device known as the telephone, to ask people questions when I have them for my own analysis. I take the effort to attend general meetings and be a pain in the ass in trying to get direct face to face answers, which is also a good time to get a sense of how honest and straightforward the people I am dealing with are.

I take the effort to read annual reports, company announcements, and professional analyst reports (half of which are rubbish) before coming to my conclusions.

And finally, I post my findings and beliefs up here, without compensation, only the thanks of some readers. Why do I do this? So that some of the readers here would get a better sense of how things stand. Why do I respond to questions and queries by others? Because, believe it or not, it makes me think. Sometimes I may overlook things but when replying to others, I may realise it.

Am I supportive of the company (as you say), yes I am, to the sense that I think that the company's prospects are still good over the next couple of years, and further than that even once Tanjung Piai's sales kicks up (yeah, some of you may think this is a pipe dream).

But does it mean that I _only_ post good things about the company? Nope, take a look at my last series of postings after the latest quarterly report. And also to the points I have made in saying the last quarter of FY15 is going to be a miserable one too. If you think I am still happy after reading those postings, you are gravely mistaken.


There are days that I think of just giving up posting here. I am sure a few people here would be jumping up and down with joy at that thought. After all, why bother when I get hammered for giving _MY_ views on the matter.

As I always say, if you do not like what I read, if you think I am lying, feel free to skip it. After all, you can always read "informative" (i.e. pointlessly irrelevant to Benalec) weblinks provided by people like Bently. You can always rely on the "god-like" analysis (heh) of people like kukuman, ryanteh, where and losing for your investing sentiments here. After all, one sentence postings with phrases akin to "louzy company" are far better than my own detailed analysis, no?

Posted by Ryanteh > 2015-06-12 11:44 | Report Abuse

BENALEC deal off for Johor’s second largest reclamation project.

http://www.thestar.com.my/Business/Business-News/2015/06/11/Deal-off-for-Johor-reclamation-project/?style=biz

Posted by ongkey > 2015-06-12 11:57 | Report Abuse

taciturn : Personally, I think this TG Piai project has been extended too long by 1MYSOT and really hope BENALEC find its prospective buyer for it. This stock should be worth at least RM 1.80 but it is not below par for so long.

Posted by zero > 2015-06-12 13:57 | Report Abuse

i actually think this is good news; there is only 1 concession to be had (Benalec has this), with many potential suitors. previously, our dear Ah Ben has signed a letter of engagement committing to one single party (a slow, financially opaque and not very attractive party too), which has now been called off - thank god.

if i were the BD manager, my proposition will be that, compared to Jurong Island, we'll give you (potential investors) 75% of the quality (realistically, Malaysia is not going to match Singapore standards la), but at 40% of the cost.

Posted by taciturn > 2015-06-12 14:20 | Report Abuse

zero: Agreed. Benalec's mistake was in making the term sheet for phase 1 exclusive with 1MYSOT.

Overall they have been pretty listless ever since the brouhaha with the elder brothers (the delay in pushing for the DEIA application is a good example).

I like your second paragraph, nicely put. Heh.