Posted by taciturn > 2014-05-12 22:29 | Report Abuse

staind86: Agreed on the first point.

As to the second point, it's quite possible as Savvyone put it that progress payments for the land sales are coming through hence their ability to commit to buybacks.

Sadly, Benalec gives their quarterly results near the end of the two month time limit allotted (as does at least 90% of all Bursa listed companies). So we won't be able to interpret very much on this aspect when the quarter ending March results come out some time end of this month.

Posted by zzzzz > 2014-05-12 22:39 | Report Abuse

Wednesday can move above RM1.00

Posted by jenabchen123 > 2014-05-13 02:25 | Report Abuse

Still lending a helping hand here.

21/3/2014 (Day 3) : 0.935
25/3/2014 (Day 7) : 0.920
26/3/2014 (Day 8) : 0.920
27/3/2014 (Day 9) : 0.900
28/3/2014 (Day 10) : 0.900
01/4/2014 (Day 14) : 0.890
02/4/2014 (Day 15) : 0.890
03/4/2014 (Day 16) : 0.885
04/4/2014 (Day 17) : 0.905
08/4/2014 (Day 19) : 0.895
10/4/2014 (Day 21) : 0.895
14/4/2014 (Day 25) : 0.895
15/4/2014 (Day 26) : 0.900
16/4/2014 (Day 27) : 0.900
17/4/2014 (Day 28) : 0.900
22/4/2014 (Day 33) : 0.910
23/4/2014 (Day 34) : 0.935 (That is up 1.5 cent in 34 days!)
30/4/2014 (Day 41) : 0.900
05/5/2014 (Day 46) : 0.895
06/5/2014 (Day 47) : 0.940 (That is up 2 cents in 47 days!)
07/5/2014 (Day 48) : 0.955 (today up by 1.5 sen. Yahoo!)
09/5/2014 (Day 50) : 0.965 (today naik lagi 1 sen. Google!)
12/5/2014 (Day 51) : 0.980 (today naik 1.5 sen. Internet Explorer!)

I am tracking interesting time for Ah Ben! Huat arghhhh!

Posted by jenabchen123 > 2014-05-13 02:26 | Report Abuse

Powerwk, Internet Explorer okay?

Posted by JT5774 > 2014-05-13 10:51 | Report Abuse

Good Morning, Benalec Investor's.

The point that highlight by savvyOne on the buy-back of shares of 50M based on the company flush with cash might be true. I have search through the annoucement on the Bursa as follows:-

Cash @ 31/12/2013 RM 16,763 M

Land Sales to Faithview (S&P signed on 17/12/2013
and the Final Payment of 90 days after signing of S&P) RM 49,978 M

Land Sales to Teobros (S&P signed on 13/03/2014
and the terms of payments, upon signing of S&P 10%,
after 7 days, 10%) Total 20% collected. RM 9,623 M

Land Sales to Ultra Harmony (S&P signed on 20/03/2014
and 10% upon signing of S&P) RM 23,513 M
-------------------
RM 99,877 M
Cash collection expected in June, 2014 :-

Land Sales to Teobros (Balance of 80% after 90 days
from the date of signing of S&P) RM 38,492 M

Land Sales to Ultra Harmony (Progress payment) RM 53,661 M
(Balance = RM 157,955,268.24) ------------------
RM 192,030 M
------------------
Base on the above cash collection summary, i believe that the Company's have to fund to do the shares buy-back as much as they can.

It is up to you all to make your own judgement, to continue to buy, hold or sell.

Happy Trading!

Posted by staind86 > 2014-05-13 10:57 | Report Abuse

good one.

Posted by queenmay > 2014-05-13 15:06 |

Post removed.Why?

Posted by tsy88 > 2014-05-13 15:16 | Report Abuse

Zzzzz. U think Benalec can get past 1.00 by tis week?

Posted by queenmay > 2014-05-13 16:01 | Report Abuse

Can!!

Posted by GoGoBenalec > 2014-05-13 16:05 | Report Abuse

Tomorrow sure up!!!

Posted by SavvyOne > 2014-05-13 18:19 | Report Abuse

Hi guys, before trading resumes tomorrow morning, I would like to take stock of the postings on this blog, both by myself as well as by others. To begin with, kukuman of late has been conspicuous by his absence ... wonder whether he has retreated to his closet, where he is presently hiding!

Next, about a week or so ago CIMB Research published their analyst's report recommending a SELL call with the target price of 90 sen. Anyone who has half a brain will wonder why CIMB, in their doubtful wisdom, would set that low a target price. Well, the closing price yesterday was 98 sen! Good luck to those who took their advice and got out at 90 sen. Unless they have a secret agenda, I can't understand their analyst's sell call at that price. As I mentioned in my post of some days ago, CIMB strongly recommended a BUY call in relation to Muhibbah Engineering's involvement in the mega Asian Petroleum Hub (APH) project some years ago. Guess what happened then? The project went KAPUT due to cost overruns and delays. Guess also who ended up with egg on their faces? The same guys recommending a sell call of Benalec shares at 90 sen! Also, CIMB reckoned that Benalec's mega projects need to kick-off for the company to turnaround. What turnaround? Has the company been making heavy losses and is going into PN17?

On the positive side, since the departure of Vincent Leaw's two brothers from the company in early December 2013, land deals have been closed and a land reclamation contract has been won, generating an aggregate revenue of RM600 m in the process. The cash flow position of the company is definitely very healthy. This happy state of affairs surely serves as clear and strong evidence that the company, under the astute and dynamic leadership of Vincent Leaw, will catapult to the next level. So, all you true and fair-minded believers, now is the right time for you to make the right move.

Posted by powerwk > 2014-05-13 21:34 | Report Abuse

Haha.... First Kukuman job have been taken up by someone now. Plus the share price are in green therefore he/she won't show up. We can hear from kukuman when it drop or bad news coming again. Else don't expect to see him. By the way why we need his voice. I believe most of us ignore his comments. I did even spend a second on his post for some reason.

IMHO and past experience, I did not read analyst by CIMB and OSK. Even someone share I won't believe them till the real thing happen :-) well don't get me wrong some time they are right but most of the time they do that by making profit. They may be one of them that buy in when those listen to them to SELL :-)

At the end of the day make your own call and decision.

Good luck and happy trading.

Posted by powerwk > 2014-05-13 21:35 | Report Abuse

jenabchen123 - what you mean Internet Explorer okay?

Posted by tshwong > 2014-05-13 21:54 | Report Abuse

CImb had a 'sell' call when Muhibbah Eng down below 1 a few year ago, now they have strong 'buy' call when Munibbah price had peak close to 3. Well, for me, this is a typical buy high, sell low case, how to make money? Cimb seem try very hard to wipe off their readers or customers. A pro and responsible investment bank should not advice their customers to chase high.

Posted by rlch > 2014-05-13 21:59 | Report Abuse

Now sell call by CIMB on Benalec mean "buy"? Their sell call has meant avg TP for Benalec become lower.

Posted by tshwong > 2014-05-13 22:05 | Report Abuse

Is better to subscribe to iCapital analysis, which is more pro and independent. Not like those cimb, either they had hidden agenda to profit someone or they just hired 3 grade advisors.

Posted by tshwong > 2014-05-13 22:16 | Report Abuse

Of course, wait until Tanjung Piai deal confirm, then it's 100% safe to buy like cimb had hinted. But, do u think the price will still be below 90? I think it will be way above 1.50 or 2. I bought at 87 before 2 cents dividend in Dec '13. For me, buying low is crucial in equity investment. I won't try to time the market because I don't have the 'skill'.

Posted by rlch > 2014-05-13 22:41 | Report Abuse

Shares buyback won't stop suddenly as happen in my other stocks like Parkson and RCE Cap. I also think shares buy back will enable Benalec to rise above RM1 even Tanjung Piai project not confirmed. KWAP selling also no more news?

Posted by JT5774 > 2014-05-14 07:31 | Report Abuse

Good Morning, Benalec Investors, Happy Trading!

Posted by Gusen > 2014-05-14 09:10 | Report Abuse

Go go go, today rocket!!!

Posted by 8u29song > 2014-05-14 09:13 | Report Abuse

now heart big heart small !!!!!

Posted by jn69 > 2014-05-14 09:15 | Report Abuse

1.0 now

Posted by jn69 > 2014-05-14 09:15 | Report Abuse

will go 1.05 today

Posted by 8u29song > 2014-05-14 09:19 | Report Abuse

if cross 1.00, good profit margin cos 1 bit 1 sen !!!

those bod below 1.00 shud wait ???

Posted by small_investor > 2014-05-14 09:23 | Report Abuse

not contra player advise you keep will reach > 1.2 in 2 months

Posted by Beginner1989 > 2014-05-14 09:48 | Report Abuse

What happened.. why keep shooting

Posted by GoGoBenalec > 2014-05-14 09:54 | Report Abuse

Hold onto what you believe!

Posted by jn69 > 2014-05-14 09:54 | Report Abuse

Beginner1989 : because this share has been undervalue for 6 months.

Posted by Beginner1989 > 2014-05-14 10:05 | Report Abuse

is it still good to go in by this price then? i was regret wanna to buy cheap last week but didn't get it at 0.90

Posted by GoGoBenalec > 2014-05-14 10:22 | Report Abuse

Still believe ben can reach > 1.2

Posted by jn69 > 2014-05-14 10:26 | Report Abuse

you will regret more if you do not get in today. but make sure you buy and keep for 2 months. i can see it flying after EGM and confirming a few more land deals.

Posted by king7 > 2014-05-14 10:31 | Report Abuse

from now Sell or buy?

Posted by Beginner1989 > 2014-05-14 10:44 | Report Abuse

shit.. it keep shooting.. it is now 1.04

Posted by zack_liza > 2014-05-14 10:48 | Report Abuse

for short term easy can touch 1.20 to 1.30..but not today...today can fly 1.05 to 1.08....after breakout 1.00 & 1.02...next OCk will continue up...

Posted by DaMaCai > 2014-05-14 10:53 | Report Abuse

Hantam 1.03

Posted by jn69 > 2014-05-14 10:56 | Report Abuse

me too hantam again at 1.03

Posted by Beginner1989 > 2014-05-14 11:02 | Report Abuse

i cant get at 1.03.. shit!

Posted by DaMaCai > 2014-05-14 11:03 | Report Abuse

Target 1.20

Posted by jn69 > 2014-05-14 11:09 | Report Abuse

1.06 buying strong

Posted by ST > 2014-05-14 11:09 | Report Abuse

it will hit at least 1.10 - this Friday

Posted by DaMaCai > 2014-05-14 11:09 | Report Abuse

No problem to hit 1.20. Indicators not overbought

Posted by shawnie > 2014-05-14 11:09 | Report Abuse

today close 1.1+ no problem XD

Posted by tshwong > 2014-05-14 11:14 | Report Abuse

Hut ar.. short term target 1.50.

Posted by GoGoBenalec > 2014-05-14 11:19 | Report Abuse

Huat ar... still hold onto what i believe

Posted by Killer_Shark > 2014-05-14 11:28 | Report Abuse

hari ni ramai fund manager masuk buy this counter nih

Posted by splendid_ignorance > 2014-05-14 11:28 | Report Abuse

think this one hold 1 month should be able to hit 1.20. 1.1 short term shouldnt be a problem if company supports the price through share buy back

Posted by jn69 > 2014-05-14 11:31 | Report Abuse

company buy back everyday

Posted by SavvyOne > 2014-05-14 11:49 | Report Abuse

Good morning everyone.

The high volume of transactions and the upward price movements in recent days have not been surprising to those in the know. The news is that the big funds, both local and foreign, have been buying into Benalec, mainly because they see the big potential in the company. It is not difficult to figure out the positives that have prompted them to make their investment decisions. I surmise that these are:
1. The counter is, at the present price level, grossly undervalued.
2. The recent business deals closed by the company will net some RM600+ millions revenue for the company. Assuming a 25% contribution to the bottom line, some RM150 million will be added to the net assets of the company.
3. With the procurement of EIA clearance in the pipeline, the mega Tg Piai and Pengerang projects are due to commence sooner rather than later. In fact, physical work is targeted to start soon.
4.Confirmation by Petronas of its decision to proceed with the RAPID project is a shot in the arm for Benalec because of its concession rights to reclaim approximately 1,500 acres of land in Pengerang, near to the RAPID project. Once the RAPID project takes off, there will be a clamour for land in Pengerang by the O&G players in order to engage in downstream business. Benalec will be in prime position to capitalise on this upsurge in demand for land in Pengerang.

So,guys, do your homework and quickly decide to take action.

Posted by splendid_ignorance > 2014-05-14 11:59 | Report Abuse

Savvy, thanks for the info. the continuous buyback by the co made for a good base for price movements. what is your 1 month tp for ben? I think the 1.20 point is very much achievable. Given it's gross underperformance and scandal-ridden past 12 months, I think people overlooked it's huge potential. If and when EIA clearance is obtained, I am sure it will once again be a darling of fund managers like it was before. Be aware that it was trading at a range of 1.50++ with an average TP of 2.00 a year ago.

Posted by JT5774 > 2014-05-14 12:18 | Report Abuse

Based on the land sales and letter of awards for reclamation and the steady flow of cash, I do believe Benalec share price should worth at least 1.60+, without Tg Piah & Pengereng reclamation project.