Book value of RM60mil and sold for RM96mil and generated profit of RM36mil. This was wht the investment banker published even before the EGM was called. So, generally it was within the street expectations.
land sales not latest news,we are concerned about S&P agreement which should deal within this month and EIA approval but as at today,nobody know the progress.at this critical time,directors and KWAP keep dispose their shares which caused market fear and queries on their such aggressive action before deal is done.public investors are lost confidence on their reputation and capability to seal the contracts.i have to mention that tanjung piah is johor national park with beautiful landscape and focus of tourism.it might not easy to obtain EIA approval.Furthermore,the reclamation require huge fund to run it and management need to sell land bank in Malacca and some of their profits earned from US to support it.However,I believe the intention of director sold their shares are right decision if we look forward for another 1 or 2 years.above just my views after EGM.
Imoogi, agreed with you. They just want to sell the land and the profit can be used as working capital for projects in Pengerang such as land reclamation of which include coastal protection works, such as rock revetment works, shore protection works and breakwater construction; pre-bore and marine piling, and construction of marine structures, bridges, jetties, ports and other offshore, ancillary structures and etc. It's our pleasure if Ben give us dividens but the percentage of doing it looks like lows... smiles..
I know idea what was operator do for this stock.....push up price n suddenly push down back....many investor losing money...SC should investigate this stock who's behind this stock .....no more benalec
Dinpolo the stocks world is like that ma! That's why when see profit take the profit if no intention to hold unless you know the co. is gd in fundamental with every qtr of growth story, gd dividens, you can make decision to keep the shares in medium or long term..smiles..
Bro....profit take is different.....it was dispose from director n some big fund...we are small fish...carry the sheet....u must learn from pattern of trading....they clear one price n but buyer support..it done the same but the push the price down....u see skp thhe n some more stock...the gape price is not to long candaltist different ....it cancer stock..took money from ur pocket slowly
I am existing shareholder. Had read through document about this sale of land to related party who is a company own by the director and his family. Their rationale of not calling an open tender for the sale is the buyer offers high upfront deposit which is 29m. Coincidentally, 29m of the proceeds from this sale will be used to settle the debt owed to the director. It is 'left pocket and right pocket' arrangement by the director. In the S&P, Benalec also needs to fork out 12m to build road in the land which has been factored in the balance sheet. I believe it will have more value if the company JV with another property developer to develop the sea front land. I do not like this but will not sell it now. Will wait untl it realises it potential in tg pia. this is definitely not a company for long term holding.
I have disposed my shares. My biggest concern was why the directors/substantial share holders were disposing of their shares recently. If they got no confidence in the near term stock rise, why should I.
Hi everyone, i think everyone in this forum already known what to expect the result of the EGM yesterday will turn out. So why surprise!
This stock is not really for contra play. You need to hold on to it for at least a minimum of 3 months, than only you can realise you profit. So let us sit and wait for the TP.
Sell sell sell..more cheaper price waiting for u...pdt traders buy at 143 n sell at 1.45...see how many lot done at 143 n 145...the result is there.....
their director acquire their share at very low price probably 1.00 to 1.2, so it is up to them at what price they want to dispose. dont play play with the big fish
as long as can hold above 1.42 today,there is still the hope.now all small fish must work together to fight giant killer whale even only minor winning %.
my advise, if you have holding power, just hold as this is a good stock, return definitely better than put in FD. and slowly accumulate when the price is low. if u r contra player, then is your own call.
i share the same opinion as u. Hold on to ur shares.the down side is limitted, not far. Upside is bbetter.afterall this ctr has not moved much during this bull period.
I as well hate to think the management integrity and governance in managing this issue..sidelining minority is not helping of course..they are public company and should act like one
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 773 views | 5 d ago
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New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kcfan
1,881 posts
Posted by kcfan > 2013-06-11 21:47 | Report Abuse
售甲填海土地议案 宏洋股东不满声中通过
財经 2013年6月11日
By A Web Design
孔令尧 报导
(吉隆坡11日讯)宏洋控股(BENALEC,5190,主板建筑股)周二成功通过脱售马六甲的填海土地的议案,惟现场许多小股东对此项交易深感不满。
宏洋控股早前建议把位於马六甲16块面积79.49英亩的租赁土地,以9695万令吉现金卖给Oceancove发展私人有限公司、策略產业私人有限公司和Ocenafront发展私人有限公司,並在周二举行的股东特別大会上寻求股东通过上述议案。
现场数名小股东在接受《东方財经》访问时,皆表示对上述交易感到不满,特別是3名买家皆与管理层有利害关係。
根据该集团的通函显示,宏洋控股执行董事拿督廖大春在Oceancove发展、策略產业、以及Ocenafront发展皆持有股权。
小股东们普遍认为,管理层理应通过公开竞標的方式寻找买家,而不是將该填海土地脱售予利害关係方。同时,亦有小股东向记者反映,声称上述土地的价格被低估。
然而,作为独立顾问的肯纳格投行在早前公佈的报告中表示,上述的交易既公平又合理,为股东带来最大的利益,因此建议股东们通过此项交易。
http://www.orientaldaily.com.my/index.php?option=com_k2&view=item&id=59818:&Itemid=198
儘管小股东有异议,但该股东特別大会最终还是通过了上述脱售议案。