Stock: [BENALEC]: BENALEC HOLDINGS BERHAD Posted by king of spinner aka taciturn on Jan 20, 2015 11:46 AM | Report Abuse where: This "U damn funny. Asked the company how long it took for them to finalise the land sale" does not explain
"Reclaim land but cannot sale."
Did the company sell land ever since the criminally liable Leaw Tua Choon et al resigned, yes or no?
You as a "lawyer" should be able to answer a simple yes or no question.
You claim they reclaim land but cannot sell. That is quite obviously false. If you want to argue that it takes them a long time to sell the land then say so, but don't lie to us by saying that they cannot sell it.
Do elaborate further, if you have the courage that is, which I doubt at this stage.
Stock: [BENALEC]: BENALEC HOLDINGS BERHAD Posted by king of spinner aka taciturn on Jan 20, 2015 11:58 AM | Report Abuse where: I don't know how it is I'm supposed to be "sneaky" when all I'm asking is for you justify two of your statements, or admit that you tried to lie to us.
You said: "Reclaim land but cannot sale."
I am still waiting for you to explain the first statement considering the fact that Benalec has sold 210 acres ever since the criminally liable Leaw Tua Choon et al have resigned from the company. You have so far only stated:
"U damn funny. Asked the company how long it took for them to finalise the land sale"
which does not explain your original statement at all.
You also said: "i am much better than you when you only display good news which in fact all false. "
I have asked you to tell us, what is "good news" that I have displayed which is "in fact all false."
Thus far, you seem unable to answer this point, so you try to divert the issue about asking me to check whether the GM has resigned.
What exactly does the GM resigning (if so, I have no idea) have to do with you claiming that I display false good news?
Feel free to try and explain, or perhaps you'd care to man up and admit that you've tried to lie to us?
P.s. I have no idea what the GM resigning has to do with all this. Benalec is still reclaiming land, Benalec is still selling land. The GM resigned, oh my god, are we supposed to panic perhaps? You might have heard of career changes, better offers else where, or perhaps the concept is one that is lost to you. People do change jobs you know.
Stock: [BENALEC]: BENALEC HOLDINGS BERHAD Posted by king of spinner aka taciturn on Jan 20, 2015 12:08 PM | Report Abuse where: Still waiting for you to at least make even a half-hearted attempt to justify your two statements:
"Reclaim land but cannot sale." and "i am much better than you when you only display good news which in fact all false. "
Since you haven't done so, I'm taking the view that you obviously tried to lie to us. I call this doing a "kukuman".
Of course you are too cowardly and unable to do so. We all understand, since after all you're obviously a great "lawyer", heh.
I've only met the MD during general meetings, so I cannot say that I'm even a friend of his. So not sure how I got to be brainwashed as his pet.
I have also never tried to defend him as far as I know (please elaborate if you believe I have).
Thus far all I've stated very clearly is that, the person you idolise, Leaw Tua Choon is a criminal from my perspective and the AG should charge him and get him convicted. Who knows, maybe if the AG does that, you can then offer your services as a "lawyer" to him. After all, you are "99%" sure of getting him off, no?
Stock: [BENALEC]: BENALEC HOLDINGS BERHAD Posted by king of spinner aka taciturn on Mar 14, 2014 11:00 AM | Report Abuse
jenabchen: Good point. Not insider trading though, more to do with unreported related party transaction / breach of fiduciary duties by a director.
I like (and am in favour of) the HoA simply because it clears up all _civil_legal issues between Benalec and all the other parties.
There is however nothing in the HoA that can prevent _criminal_ legal action to be taken against the two directors et al.
Whether SC / PDRM takes action against them is another matter altogether.
At the end of the day the HoA restores the situation (financially) for Benalec as if the illegal RPT never happened. (Assuming that there are no other illegal RPTs hidden there)
The damage that's left is image wise. Although with the two brothers out as directors and one (the bigger culprit) having sold his stake, it's one step towards restoring credibility.
Also as an aside, I note yet again with amusement comments stating that this company is going to go bankrupt / PN17 / die etc. It makes me wonder as to how on earth that's going to happen once you look at the financial figures of the company.
P.S: I do own shares in Benalec. If you consider me biased due to that, please diregards all my above comments and carry on!
Stock: [BENALEC]: BENALEC HOLDINGS BERHAD Posted by king of spinner aka taciturn on Mar 17, 2014 09:00 AM | Report Abuse
Kukuman: It sounds like you're claiming to know more about what happened behind the scenes than is already known.
You claim that everyone that remains with the company is still guilty.
In that case, tell us. I would love to know more, assuming that you actually know something that is.
Thus far all I have seen is you denigrating the company with the standard spiel of "rubbish company" et al.
This is as useful as people who claim target prices for the company within the next day or next week. Utterly pointless.
I try to make a constructive (factual) post, and you give a snide reply instead.
It doesn't sound like you think that the company is going to go downhill as much as you want the company to go kaput.
If you can't at least try to back up your statements with facts then just accept that they're as good and qualitative as promises from our government of the day.
Strange no one reported this idiot yet... I didn't bother reading to find out whose side he is on... but he jjwong and happyvincent and this king of spammer... WHY CANT YOU JUST DIE!
Maintain hold with a lower target price of 56 sen from 60 sen: Benalec Holdings’ financial year 2015’s (FY15)’s core net profit made up 99% of our full-year forecast, but accounted for only 62% of consensus number.
yeah i agree... plus Malaysian is in chaos at the moment.... not many dare to invest in Malaysia... just like most of us here...but Malaysia goes through this cycle every 5 years or so... don't think its a long term problem
must understand the gravity of the case. If Bursa finds Vincent guilty, they will fine him more than a hundred thousand. Now Bursa only fine half what they fined the brothers. Anyhow, it is good for both brothers removed since the company is already listed and they need to uphold corporate governance and cannot simply conduct transactions. I just wonder why the independent directors still remain? One of term reference is to ensure no related party transactions conducted without appropriate approval. It indicates at 1st place, there is no mechanism or process in place. What if Vincent himself conducted RPT since both brothers already removed.
Eerr... depends. It is norm to set up trustee but may end up more troubles especially if the trustee grouped together to acts against beneficiary because trustee put the trust persons very powerful position it is like splitting car into 3 pieces where beneficiary cannot do anything but trustee acted wickedly. You may refer to Mah Sing recent announcement on how beneficiary pakat to take advantage on beneficiary http://www.thestar.com.my/Business/Business-News/2015/08/14/Mah-Sing-rescinds-RM359m-purchase-of-Seremban-land/?style=biz
suspect all men are brothers is a non technical person. Making such statements is embarrassing. How on earth did you come up with the conclusion that when a company is hiring, it isn't doing well..
while there may be nothing 'noble' in the act sacking own siblings, it is far from being ' cruel ' as some put it in this forum. A crime is still a crime.
happyvic - don't get your point because there is no point and very generic statement. Show us your facts, how many staff leave, how many join in a year, what are their salary range, what are their position (GM, Senior or junior) etc.. can't show means talk cock here lo....
yeah.. i dont get his point.. posted that benalec looking to hire a purchasing clerk.. and deduced that staff resign... and company not doing well.. you can get all that from hiring a purchasing clerk? usually companies hire when it is growing... if it is going down... it wont hire so save cost...
Change in Principal Officer BENALEC HOLDINGS BERHAD 13/04/2015 Kenneth Chin Kah Kiong Age : 41 Nationality : Malaysian Designation : Chief Financial Officer Gender: Male
Remarks : Mr Kenneth Chin will relinquish office as Chief Financial Officer of Benalec Holdings Berhad with effect from 13 April 2015 as he has been re-assigned with other portfolios within Benalec Group.
Change in Principal Officer BENALEC HOLDING BERHAD
Date of change : 13/04/2015 Name : Lim Sze Yean Age : 42 Nationality : Malaysian Type of change : Appointment Designation : Chief Financial Officer Qualifications (1) Fellow member of the Association of Chartered Certified Accountants (ACCA) (2) Master of Business Administration from Rutherford University Working experience and occupation Mr Lim started his career in 1996 with an audit firm and in 1999 joined a public listed company. He was promoted as Group Finance General Manager in July 2003 and was responsible for handling the group financial costing, internal control including overseeing the company's business growth.
In September 2005, he was re-designated as Group Finance Director and assisted in the planning of bond and equity raising for the Group. He has over 15 years of experience in various areas of finance including corporate finance, internal controls and risk management.
Kenneth Chin is STILL an employee of Benalec. From what I understand, he wanted to experience new aspects of the group since the CFO role isn't as complicated a role in the company. Besides being an executive of the firm, if you read announcements, you will take note that he and the COO plus the MD are usually the nominee directors for subsidiaries of the firm.
As per usual, when there is no bad news to harp on, you can see infamous characters on this board posting old news. Ryanteh for instance is a genius when it comes to posting articles that are at least half a year to several years old!
The whole issue with the brothers is finished. The two older brothers who were the crooks are kaput from the company. They no longer hold any position, executive or otherwise.
As you can see, there is still a bodek group who are in love with said older brothers posting on this forum. Makes you wonder why they love such crooks, no?
Foo Polin is still a shareholder of Benalec through her stake in the family firm. If one is referring to her selling down her PERSONAL holdings that were granted to her on listing, one should take into account one simple fact.
Where is Foo Polin based? What does she do? Figure that one out and you're halfway to the answer.
I have been made to understand though as to who one of the posters on this forum is. I liked the description someone gave me of him, "Sitting on his fat ass, playing video games all day. Spoilt as hell, to the point that someone bought him a Mercedes for his first day at work car". Gave me quite a chuckle.
Funny, I don't seem to have stated that Kenneth Chin felt "bored".
I only stated that he wanted to experience new things, i.e. what we'd call professional development.
Of course some people like to interpret and twist the words of others to suit their own needs.
Most entertaining statement of the day is someone claiming he is only interested in this counter's performance.
And the best way to do that is to condemn, condemn and condemn some more! Pile on the crap on the company. Try to do your bit to give the company more bad press and ultimately resulting in a lower share price.
Yes, of course, in the la-la land way of doing things that is how it is done.
Director's fees. Question asked and answered. I am not going to waste my time on it. If you want to keep harping on it, that is your privilege.
I would like to assume the independent directors have some integrity. Our Chairman is a lawyer of good standing and I cannot imagine him being party to any shenanigans. Did the board fail to detect the undisclosed RPTs? Yes. Do you know how hard it is to hide such undisclosed RPTs? Not very. Do I blame the independent directors? No, I blame the two older brothers. They were the crooks.
Also, do you know how big Benalec is? You get rid of the board, you get rid of the MD, and let us say you get rid of the upper management. Who is left?
The company would be doomed then.
And do you know who is the one with the kangtao over Tanjung Piai, i.e. the one with the connections with the Johor Palace? I will give you a hint.
It is not the two older brothers.
Try and imagine a situation where you no longer have a connection with the Sultan. You decide if that is "best" for the company.
taciturn Quick update: To reiterate: Vacation for HQ staff for a week is not something terrifying, it is common for most companies to give a paid vacation to their staff members, especially during quiet periods. Also the number of staff in the HQ to my knowledge is very small. I believe it is about two dozen people.
Suppliers would have been informed before hand of any closure.
Also, suppliers would usually send any invoices to the operational/site office in Melaka which IS open.
How do I know this? Because I took the extremely difficult step (very very difficult - I actually has to open a browser window and go to benalec.com.my) of getting the phone number of Benalec's Melaka office. I called them. They are open.
Conversations there indicate that reclamation works is ongoing. I also spoke to someone who confirmed that the Ultra Green/Oriental job in Melaka is still ONGOING. It has not been terminated as someone has tried to portray.
And yet again, I will reiterate, we have a few people jumping up and down trying to instill panic in the share price of the company with completely unfounded and wild allegations.
Please lah, you want to give bullshit stories try to do it with some class. If not it is just plain pathetic. 23/04/2015 11:22
losing : Regardless what others said..... whether pro or con. Close for 1 week is something not right already for a listed company. Lim Goh Tong pass away the Genting also open. 23/04/2015 11:33
losing : This Taciturn really got problem. People want to instill fear so make profits. No need to instill fear because it is real fear. 1 week later, the MD will say "Guys, I am at Taiwan, sayonara" 23/04/2015 11:36
CaoCao : aiya Taciturn Brother no need to bother them lah, they will not stop lah, what pn 17, cancel "invincible" contract of the 720 acres lah, don want to announce lah, now say go to taiwan lah, aiyo come on lah taiwan there now got earthquake lah, go there to learn pusing kaw kaw meh... so Taciturn no need to waste your time to answer these endless and stupid rumours, they simply won"t listen so why bother!! 23/04/2015 11:54
CaoCao : i think since they try to influence the sentiment of benalec shareholders of this forum, they won't stop now coz this is their job and will do it until their target been reached or the time's up. 23/04/2015 12:01
JustinM17 : chill la. wait until the hq reopens and see whether there will be announcement about it or not. as for now the office is CLOSED therefore there is no point arguing whether it is real or bullshits. and btw, why taiwan? Haha! 23/04/2015 12:08
losing : seems macai-macai from UNO invest in Benalec. Clever twist and turn. Don't like to hear facts and ignore facts. 23/04/2015 12:24
JustinM17 : however the whole hq closed for a week still does not make sense. especially at this kind of time. want vacation also should be end of the year or around CNY. this is end of April. kinda weird isnt it. 23/04/2015 14:22
losing : a company that facing lots corporate governance issue is like that one. Sure related to corporate governance. 23/04/2015 14:24
taciturn : Losing said "This Taciturn really got problem. People want to instill fear so make profits. No need to instill fear because it is real fear. 1 week later, the MD will say "Guys, I am at Taiwan, sayonara""
Challenge accepted. I'll give you until the end of Friday next week. If none of your scandal/expose/bullshit comes true, I win. If it happens you win.
Loser goes to KLCC and jump off the building. Game?
When a user nickname stinks like a combination of hum yee and chow tofu, you see duplicates appearing. 23/04/2015 16:21 08/05/2015 18:22
losing : Taciturn ... tell us more points. 08/05/2015 19:23
losing : 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. 08/05/2015 19:24
interesting. so i asked you then. Did tanjung piai or any project in Johor bring any profit to Benalec already? has their projects commenced already? any updates from you regarding their johor project? how many years has it been announced and still there is no single drop of sand into the sea. what i can see from this company now is that the only projects they have are mostly in Melaka. and theres where all the profits n revenues come from which is from the ousted director connection. no? correct me if i am wrong MR Benalec professional.
Chinese tradition pulak.... what era are you from? doesn't matter who is older... what matters is who is more capable... since 15 years ago... before benalec was puplic listed.... it was already the 4th brother calling the shots and doing everything... this will be my last message to you... I think im wasting my time reading your posts... classified under the same class as ryan and happyvincent
JustinM17: Are you asking these questions because you are honestly looking for answers or are you intending to insult me? Addressing me as "Mr Benalec professional" makes me wonder.
As I stated to you once before, I am not an employee, nor a director or insider of the company. I have no control on whether you choose to believe that or not,
I will assume that you actually want to know more and are not just trolling the forum.
Rather than me spoon feeding you every step of the way, here is what I suggest you do. Read the quarterly result notes. That will give you an idea of the company's commencement date for reclamation works of Tanjung Piai. There is no point in me saying it to you here since you might disbelieve it.
Because reclamation works are to begin only this year, and the company's policy has shifted to reclaim then sell, quite obviously no revenue has been booked for it.
Benalec first made a public announcement regarding Tanjung Piai in November 2011. Has it been too long? I do not know, you decide.
For comparison purposes, it took Ngau of Dialog about 10 years to get everything approved for their Pengerang site (from getting the concession to finishing up with the DEIA approval). Even after that it still took a couple of years to really get things going.
And I know it was pretty much hellish for Dialog to get all the approvals. They were shot down once on the DEIA and had to resubmit from what I understand. Till now I am still impressed with Ngau for what he has grown his firm into. And I like that he is still a humble man, with no airs to himself.
Am I antsy that it is taking Benalec so long to get things going? Yes, I am. And I blame the whole brou-ha-ha with the brothers as part of it. It really put the company off its course.
Do I still think Tanjung Piai will be a game changer for the company? Yes, I do. Without it, Benalec has nothing going for it.
I have seen a lot of denigrating comments so far about Benalec, a lot of it without any attempt at justification or elaboration.
From Ryanteh's fantastic links that are several years old (and frankly, in my view no longer relevant) as well as claiming that the company will go into PN17 if it the bond issue did not happen (he still has not explained how that would have happened); to Bentley's expert postings here about other firms that have completely nothing to do with Benalec, including one about a sand barge that sank (till now, I am still waiting to explain how it is relevant, but I am not waiting for it with bated breath); to where who claimed that DEIA approvals HAVE to come from Najib; and let us not forget the biggest troll on this forum who claims to have "confidential evidences" about the company's wrongdoings but has no guts to actually show what it is.
I see so many postings condemning the company including how the current board and MD are "crooks" yet I have not seen one peep of such comment during the past four general meetings I have attended. Everyone here seems to be armchair generals, not one is willing to get up and actually do something if they actually feel strongly about it.
So JustinM17, if you are honestly interested in sharing knowledge and not trolling, why don't you do your part and start contributing something realistic to this forum. Be it a fundamental or technical view.
When I choose to provide whatever personal analysis I make here for free, I get condemned and I get insulted. I am seriously considering withdrawing completely from here. No doubt my denigrators will be jumping up and down with joy. After all, I am sure most people will prefer one-liner analysis such as "louzy company" no?
It is postings by people like Bentley that leave me with so much disgust when I read them.
Nowhere in ANY of Benalec's announcements have they stated that they are selling water.
The MOU with Salcon is part of the DEIA compliance requirements. Tanjung Piai HAS to have its own water supply and sewerage treatment. They cannot just piggyback on Syarikat Air Johor.
If you cannot even figure out that simplistic fact, please, just go away.
Water supply and sewerage treatment means producing water for selling purpose ? Joke of the year man.
If you built oil & gas terminal and you washed your Silo or O&G transport ship , where are you going to dumping those waste water ? Sungai Johor or Selat Tebrau ?
This is why the sewerage treatment infrastructure come in.
When you demand so much of water usage , you think SAJ manage to entertain the demand ?
Please check what petronas already developed at Pengerang. they even build their own power plant.
Anyhow , Benalec issue is they are just too tiny to run such big project They need a strategy partner on funding in order to start Tg Piai. Dialog is benefit from Petronas RAPID.
Maybe Benalec need to seek funding from Temasek and form a sister port for Jurong Refinery.
seng hai lau sai is Ok but not benalec shares price. If lau sai, please go and see doctor. doctor give mc you take. but don't buy mc. some people can go very low.
he should consider a pay cut for himself. how long has he been hospitalised? 60 days? IF more than 60 days, that should be considered as unpaid leave. this is integrity issue. as a md, ceo and what not (why hold two positions? to ask for higher salary?) he must set good example to the staff IF the illness is not occupational. hr got check his kong card or not? cannot clock in clock out for others, ok?! got thumbprints type?
people saw many vessels parking at the seaside in melaka for many years. the vessels belong to benalec? IF that is true, evidently this fellow don't know how to manage the company assets. sea water is salty or hamsap. very soon all the boats will become rusty scrap iron. has the auditor checked the assets thoroughly or not? the non executive independent directors got ask that fellow how to generate income or not from these vessels? don't know how to check rpt but must know how to ask this kind of questions. how often is this fellow go down to melaka? IF not, he is not entitled for high salary. don't short change us.
can they park the boats there? Legal or not? IF oil leaking, the environment department will not saman meh?
why shares buy back activities like no proper planning and not managed by professionals? buy 10,000 shares and stop for six months or more and then buy again another 10,000 and stop. if don't have enough cash then don't buy back lah. Buying back 10,000 shares means the company is not confident with the future earning. other shareholders love to see company buying back shares to support the price but please do it with brains.
i propose to cut RM100k from that fellow salary and employ more professional to run the business. then we got hope to see the shares price move up above RM1.
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taciturm
16 posts
Posted by taciturm > 2015-08-25 08:48 | Report Abuse
Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
Posted by king of spinner aka taciturn on Jan 20, 2015 11:46 AM | Report Abuse
where: This "U damn funny. Asked the company how long it took for them to finalise the land sale" does not explain
"Reclaim land but cannot sale."
Did the company sell land ever since the criminally liable Leaw Tua Choon et al resigned, yes or no?
You as a "lawyer" should be able to answer a simple yes or no question.
You claim they reclaim land but cannot sell. That is quite obviously false. If you want to argue that it takes them a long time to sell the land then say so, but don't lie to us by saying that they cannot sell it.
Do elaborate further, if you have the courage that is, which I doubt at this stage.