Post removed.Why?

Post removed.Why?

Calm down don’t make scurrilous attacks upon some body here......

Benalec Eyes Indonesia, Vietnam For Regional Expansion
December 28, 2010 17:29 PM

KUALA LUMPUR, Dec 28 (Bernama) -- Benalec Holdings Bhd which is en route to a listing on Bursa Malaysia's Main Market on Jan 17 next year, is eyeing Indonesia and Vietnam to expand its marine construction services regionally.

Group Managing Director Vincent Leaw Seng Hai said Benalec expected to enter these new markets in the next two to three years.

"We have the potential to become a regional integrated marine construction specialist with our scalable business models that can be expanded into other regional markets," he told reporters after the launch of the company's listing prospectus here Tuesday.

Asked whether Benalec would open branch offices or set up joint ventures in Indonesia and Vietnam, he said: "To go overseas, I think it is good to team up with joint venture partners. We have identified the partners but not yet signed any memorandum of understanding."

Benalec currently has operations in Singapore, offering chartering services via its affiliated company, Oceanlec Pte Ltd.

Leaw said Benalec was in the midst of procuring the Building and Construction Authority (BCA) licence from the Singapore government to enable the company to bid for land reclamation projects.

"Once we secure the BCA licence, we will secure all the contracts under our branch office in Singapore," he added.

Established in 1978, the integrated marine construction and vessel chartering services provider currently has an order book of RM855 million, of which RM664 million in unbilled orders and will last until 2016.

Leaw said Benalec was bidding for four to five projects in Malaysia and Singapore and the company would make the announcement when the time was right.

"We envisage that the demand for land reclamation would increase over the years due to abundant benefits it would bring. Most importantly, we see reclaimed land as a means to provide land for the building of seaports and airports, power plants, petroleum hubs, and marinas and resorts," he said.

In terms of revenue breakdown for the financial year ended June 30, 2010, Leaw said marine construction contributed 89 percent, while the vessel chartering and marine transportation segments made up the balance.

On the company's listing exercise, Leaw said the proposed listing would enable Benalec to strengthen its position in the marketplace and undertake bigger projects in local and regional markets.

The listing exercise is expected to raise RM100 million, of which over 90 percent will be used as working capital.

Benalec's initial public offer involves a public issue of 100 million new shares of 25 sen each and an offer for sale of 130 million shares at an issue price of RM1.00 per unit.

A total of 36.5 million new shares will be made available for public subscription.

AmInvestment Bank is the adviser, sole underwriter and sole placement agent.

-- BERNAMA

Post removed.Why?

1MDB going to default on loan interest payment...
would you have dumped RM/Rgt denominated bond ?
$42 billion monster
anyone knows what $42b money is being used ?

Tragedy may come in any form to anybody. That 162 people on an ill-fated Air Asia plane (en route from Indonesia to Singapore) on Sunday went missing was really heart-rending. A thorough probe must be ordered into this disastrous tragedy.

In the current era, where Technology is said to be on top. where people communicate from moon to earth, How come planes are getting missed from just 32000 Fts. How come US & British airlines travel through CAT 5 Storms without harm, and here from MH to AIRASIA almost 5 crashes in single year., something is fishing here.

Why CIMB was appointed receivers and managers over Asia Petroleum Hub Tanjung Piai.

According to a report in The Edge published on Aug 9, 2011, the delays were largely due to the need for redesigning after the soil on the island, which was largely silt, was found to be unsuitable for building structures.“In a nutshell the island was not fit to be transformed into a petroleum hub,” the newspaper quoted a source as saying. The situation continued to aggravate in 2011, prompting CIMB to place APH in receivership, not once but twice, in June 2011 and January this year.

The hope that the CIMB-led restructuring which may bring in new shareholders as white knights dissipated when CIMB finally decided to withdraw from the project.
The same paper reported that APH still owes CIMB RM840 million which was drawn down from the RM1.4 billion loan, and another RM381 million to Muhibbah.

Muhibbah had on Feb 27 sued APH and managing contractor ZAQ Construction for the outstanding payment.

Another subcontractor, Nam Fatt, had also taken legal action against ZAQ Construction for an outstanding payment of RM39 million and RM66 million in compensation.

http://www.malaysiakini.com/news/202217

some time it is then more impressive than speech.

but all board members of directors get the good paid fee, how can they refused to accept their own higher fee.

Source : Affin Hwang Capital : Price Target : 0.68

According to its Chief Operating Officer, Benalec Holdings (BHB) expects to obtain approvals for the DEIA for its 3,485 acre Tanjung Piai Integrated Petroleum & petroleum Hub and Maritime Industrial Park in 1Q15. He added the environment impact study on 1,760 acre Pengerang land reclamation concession is still on-going.

Meanwhile, it was also reported that a minority shareholder questioned the remuneration package of BHB’s Group Managing Director Dato’ Leaw Seng Hai. He claimed that the GMD’s package of RM7.5m-RM8.0m in FY06/14 was too high compared to the group’s net profit of RM7.2m. (Source: The Edge Financial Daily)

Approval of the DEIA will be major positive news for the group. Work on the massive Tanjung Piai concession can then commence. We estimate that the Tanjung Piai and Pengerang will boost BHB’s order book by ~RM15bn and net profit by RM1.2bn over the next 10-15 year. With regard to the remuneration package for the GMD, the management said the GMD has worked tirelessly for the group, including resolving the recent boardroom tussle and securing the Johor concessions. He was also the GMD in FY12 and FY13 when the group recorded net profits of RM82.7m and RM56.6m respectively.

Maintain BUY rating with a TP of RM0.68 based on 10x FY15 EPS.

Source: Affin Hwang Capital Research - 23 Dec 2014

depending on hope and believe are very dangerous in stock market. especially when people got trapped at high price.

I saw in DOE website they only submitted Tanjung Piai DEIA to Department of Environment, Benalec didn't submit of pengerang reclaim project DEIA to Department of Environment.

http://www.doe.gov.my/portalv1/en/broadcast-info/announcement-picture/detailed-eia-report-proposed-development-of-an-integrated-petroleum-hub-and-maritime-industrial-park-including-reclamation-at-tanjung-piai-johor-malaysia-by-state-secretary-johor-incorporated-an/317385

No ship can set sail without a captain, and the same is true of businesses. Without the right leadership, a business will almost certainly fail even if the best possible employees are on hand, the businesses that were destroyed because of poor leadership....

dishonesty corporate governance team....

Honesty is very expensive gift. Do not expect it from cheap people.

purely contra stock counter when the market is steaming whack and runnnnnnn...

I cut lose all my Benalec share at RM0.68 when good news announcement. if keep to now will lost more.....will be buy back if Benalec drop below RM0.40.....Good Luck to all extra long term investor.....

all of them will soon to be charged with criminal offense in three authority: Polis, Bursa and SC.....

where - depending on hope are very dangerous in stock market. especially when people got trapped at high price....