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

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.

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 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 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 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 11:33 AM | Report Abuse
where: Okay, what's the "good news" which I displayed which is "in fact all false"? Please, do tell for all of us here.

Also, I am still waiting for you to justify your earlier statement:

"Reclaim land, but cannot sale"

I highlighted the land sales that have been made by Benalec since the criminally liable LTC et al have resigned. So how do you justify your statement?

I call your statement bad news which is in fact all false.

Till now you have refused to explain that statement. So isn't that an outright lie by you then?

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
Posted by king of spinner aka taciturn on Jan 8, 2015 06:27 PM | Report Abuse
@where: You again bandy insults against me.

I have highlighted whatever points are necessary in my previous postings, feel free to read them if you have difficulty in recalling them.

You have highlighted points that are irrelevant (van donation? Wow - has absolutely no point with respect to the company's performance)) or absolutely wrong (your points on legal issues) in my personal opinion.

"Reclaim land but cannot sale"
Teobros Development - 23 acres
Ultra Harmony - 128 acres
Jadex - 59 acres

These are the above lands that were sold ever since the criminally liable directors (LTC and LAC) resigned.

Of these three bundles of land that were sold, only one was fully reclaimed at that time (Teobros Development - this was the land that LTC and LAC secretly acquired for their own interests in a criminally liable unreported RPT).

Of the other two bundles, the lands were sold BEFORE they were even reclaimed. In other words, the buyers put 10% down for something that's still covered by the sea.

So do tell, I'd be delighted to hear how you can justify "Reclaim land but cannot sale".



The articles that you posted regarding Indonesia and Vietnam were done just around the listing time of Benalec (2010-2011). You may not understand this but plans do change. You may intend to do something but then change your mind. Did Benalec pump in money in setting up Indonesia and Vietnamese branches and staffing them? No, they did not.

Projects for Johor...what exactly does that mean? Tanjung Piai and Pengerang? It took Ngau of Dialog fame about 10 years from start to finish before he could even break ground on Pengerang.

It has been... 5 years or so since Benalec got the concession for Johor. When they receive EIA approval, they intend to break ground within a month or so (after getting the state developmental order). That's about half the time that it took Dialog.

Do explain how all this is "just talk and syiok sendiri".

Feel free to try to rebut any of the above points if you disagree (especially with regards to "Reclaim land but cannot sale". If you don't even bother (which is what is likely to happen), that will tell readers exactly how valid your arguments are.

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
Posted by king of spinner aka taciturn on Jan 2, 2015 01:43 PM | Report Abuse
where: *facepalm*

Why were the brothers forced to resign? Because they committed CBT! Not because it's brothers fighting each other. It's not because one person says, "I want to be in charge!". Vincent Leaw is telling everyone that to make them understand that this is a more serious case of mala fide/CBT.

Can you please get that in your head? The brothers are out because they committed a CRIME. Faham tak?

And insider dealing? That is the biggest crap load of bullshit I've heard in a long time. Are you freaking kidding me? Tell you what, if you actually believe I've committed "insider trading" (which is the correct term) because I found out the reason why the second brother was not bought out, please do report me to the SC.

Holy mother of god. I am now reminded as to why I made a decision to stop responding to your posts. To call what you stated me to be (committing a crime, that's what insider trading is) imbecilistic would be the understatement of the century.

I try to limit myself from calling others names but seriously, kebodohan yang tidak boleh dibandingi.

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
Posted by king of spinner aka taciturn on Jan 2, 2015 11:29 AM | Report Abuse
Whilst I stated that I'd ignore your posts before, I can't resist asking this one.

where: Please clarify where the MD insisted that there was no misunderstanding with his brothers?

You _do_ realise that the two older brothers were forced to resign or be fired. A Heads of Agreement had to be made and ratified (by minority shareholders) to undo the mess that they had caused, correct?

I hope this is not a case of katak bawah tempurung. You seem to be insisting all is well between the MD and his older brothers, la-la-la.

The older brothers are gone, finito, no longer serving with Benalec. You think that there is still no "misunderstanding" with them? This whole situation might have been swept under the carpet and never brought to light and we would not be aware of it. Instead Vincent Leaw stated, no cover up and everything came out and everyone's reputations (especially the two older brothers) took a hit.

From my perspective, the two older brothers are damned lucky that the AG's chambers have not hauled them up to court and demanded jail sentences for them. (I have not sought out the reasons for this, but it does not take a genius to figure out what has happened here)

The middle brother still retains a stake through their family holding firm, I've been told the reasons why he wasn't bought out, but I'm not going to put it up here. For me, said reasons were reasonably credible.

So please, do me a huge favour. Show me where exactly the MD stated that there is no misunderstanding between him and his brothers. I'd be delighted to read your source document on the matter... if it exists that is.

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
Apr 3, 2014 06:03 PM | Report Abuse

Whilst as a rule I now no longer waste time responding to trolls, I feel it necessary to correct the one-sided and misconception being put forward by one troll.

1) His comparison of Benalec with Tan Chong (TC) is entertaining. TC did not have a heads of agreement (HoA) ala Benalec to resolve all their disputes. The link by said troll above highlights the exact (HoA) which is going to resolve all these problems assuming it is ratified by shareholders.


2) As is per usual by trolls, they tend not to show all sides of the picture. His link above with regards to the edge malaysia's article whilst correct should be immediately followed by:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1513989

which does highlight the exact point The Edge was making. Granted this announcement was of course 5 days past the expected due date (10 Jan 2014 versus 5 Jan 2014). Whilst some trolls will consider this as a the end of the world for a company (doomsday, apocalypse, hari kiamat, the end of days), the HoA _was_ announced. It was not hidden, it exists, it is a reality and not a figment of someone's imagination.


3) Of course some trolls would like us all to believe that nothing else has really happened with the HoA since then. But the following announcements shows the updates on how the agreements progressed up till today:

13 March 2014
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1566201

and of course said troll's own link above (reproduced here which shows the finality of the proposal - talk about tembak-ing one's own foot, he wants to criticise the company but instead he's highlighting the proposed solution. Heh)

31 March 2014
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1580877


4) Some trolls (as per this one) again don't understand the concept of libel. You can only sue someone for libel if it's untrue and you have been defamed. Let's look at his examples of what the edge printed:

a) "deadline is over" - True. Benalec announced on 5 Dec 2013 that the were working towards a HoA and it was expected to take one month. The Edge article was printed on 7 Jan 2014. At that time the HoA was still not completed. So The Edge printed the truth here. No libel.

b) "accused of misconduct" - The following announcements should be read in a series:
6 Nov 2013 - Convening of EGM to remove the two brothers
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1454089

18 Nov 2013 (2 links) and 21 Nov 2013 - Lawsuits against the brothers and the son of one brother plus their separate vested companies
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1464433
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1464425
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1468997

Let me just quote part of one paragraph from one of these announcements by Benalec:
"...against Datuk Leaw Tua Choon and Datuk Leaw Ah Chye, for loss and damage and an account of all secret profits, arising from the breach of their contractual, statutory, fiduciary and/or common law duties and/or obligations as Executive Directors..."

Since Benalec themselves announced that the two brothers have breached their fiduciary duties, what The Edge printed here is true. No libel.

c) "it had sued" - I think even an imbecile after reading b) above agrees that Benalec did file a lawsuit against the brothers. One would hope that even a moron should be able to understand that. The Edge printed the truth. No libel.

d) "stripped the two brothers of their executive positions" - As what I stated above
6 Nov 2013 - Convening of EGM to remove the two brothers
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1454089

28 Oct 2013 - Leaw Ah Chye's redesignation from executive to non-executive director of Benalec
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1445473

4 Dec 2013 - Leaw Ah Chye's resignation announcement as a director of Benalec
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1483465

28 Oct 2013 - Leaw Tua Choon's redesignation from executive to non-executive director of Benalec.

4 Dec 2013 - Leaw Tua Choon's resignation as a director of Benalec
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1483461

Perhaps The Edge might have printed it as the brothers voluntarily resigning their positions. But the convening of the EGM stresses that there were strong moves to get them removed. You could theoretically sue The Edge, but most judges would probably kick you out of the courtroom for wasting their time. From a reasonable man test, no libel.

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
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.

posted by king spinner aka taciturn.

Stock: [BENALEC]: BENALEC HOLDINGS BERHAD
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!

Ryanteh : Benalec Proposed Reclamation and Development of Pengerang Maritime Industrial Park at Teluk Ramunia, Johor, Malaysia EIA Reports Not Approved DEIA.
http://www.doe.gov.my/eia/wp-login.php?redirect_to=http%3A%2F%2Fwww.doe.gov.my%2Feia%2Feia-reports-not-approved-peia-deia-2%2F&reauth=1
06/05/2015 12:38

taciturn : Confirmed, Pengerang status not approved on DOE's EIA site.

Will post an update if I learn more.
06/05/2015 12:49

New CFO of BENALEC Mr Lim Sze Yean full profile.

http://www.bloomberg.com/research/stocks/private/person.asp?personId=47578612&privcapId=8089829&previousCapId=8089829&previousTitle=MALAYSIAN%20AE%20MODELS%20HOLDINGS

be patience Koh Soon Kim this is the extra long term investment counter.....