Posted by jjwong > 2014-12-24 12:22 | Report Abuse

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

Posted by Kukuman > 2014-12-24 12:53 |

Post removed.Why?

Posted by ganasai > 2014-12-24 13:28 | Report Abuse

director how much can get pay should based on company profit as KPI. cannot say because hardworking. If like that, then we also need to pay the cow due to hardworking. shit talking.

Posted by happyvic > 2014-12-24 13:42 | Report Abuse

keep saying shit company but follow closely for so long... lol... how much u guys lost la... lol

Posted by where > 2014-12-24 15:33 | Report Abuse

@Ganasai.... yeah... this company should pay Bangla and Indo well because the Bangla and Indo more hardworking than MD. Without them, where is the land? Wonder how this Seng Hai rewards them?

Posted by Ah Ha > 2014-12-24 16:17 | Report Abuse

This company is not worth to invest and no trustworthy.
Let see how the market push the share down to 1 cent.
If their directors sell share, please share with the mass.
let see who loss the most.

Posted by ganasai > 2014-12-24 16:20 | Report Abuse

Summary: treat small shareholder as so hai.

Posted by oasischeah > 2014-12-24 16:30 | Report Abuse

Yes, Let us joined hands and see this con directors especially the MD sell and fight with the brothers again.

Posted by solvent > 2014-12-24 17:16 | Report Abuse

We maintain our TRADING BUY rating for BHB with an unchanged target price of RM1.98, which hinge on the commencement of land reclamation works on its massive land reclamation concessions in Tanjung Piai (3,485 acres) and Pengerang (1,760 acres).

Source: Affin Hwang Capital Research - 3 Dec 2014

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

Source: Affin Hwang Capital Research - 23 Dec 2014

3 Dec 2014 , TP RM1.98,
23 Dec 2014, TP RM0.68,

13 Dec 2015, TP RM0.08 ?????? So call research house....... i think anybody here can give better TP than Affin Hwang......

Posted by solvent > 2014-12-24 17:17 | Report Abuse

TP of RM0.08 based on weak market sentiment!!!

Posted by where > 2014-12-24 17:23 | Report Abuse

Likely unable to get approval for EIA. They are buying time. I dare them to complete fund raising after Q1 2015. Money already in their account after Q1 2015 and tell u unfortunately defer again. Lots stakeholders against this project ranging from BN due to alliance to Syed, PKR due to environmentalist, Pemandu and Dialog because to ensure sustainability ie no oversupply of oil tankers and Singapore due to shore line, environmentalist and competition. The Jurong Island already hv Pengerang by Dialog is enough.

Posted by where > 2014-12-24 17:26 | Report Abuse

if u observe carefully, all resolutions likely voted by the MD and its related friendly parties..... ooooh.... related parties again? The hv to resort to related parties voters and supports. Theoretically, investors already lost hope on this company.

Posted by taciturn > 2014-12-24 18:12 | Report Abuse

So someone asked me to clarify some of my statements, so here it is.

I frankly don't give a damn if anyone disagrees or disbelieves me - especially that lying piece sack of shit named kukuman who attributes lying quotes to me but doesn't dare to respond when called out for it.


Some of you are aware that the reports by the Edge (picked up by BFM etc) on the MD's remuneration package was because of a series of questions that _I_ (not any of the other lying anti-spinners out there) asked at the AGM.

_I_ asked the questions regarding the justification of why the independent director's fees were so high. For the armchair generals (either those who claim to own or have owned shares in the company - yet can still spend an inordinate amount of time in the forums bashing the company), here's the answer.

The fees were because the independent directors were spending an enormous amount of time in trying to fix the mess caused by Vincent Leaw's two brothers. It wasn't just a question of board meetings, but also meetings with the lawyers and the auditors. One director in fact was camped out at either office during the entire time. They virtually did not know who to trust at that time, and it was up to _them_ to fix the problem. Vincent Leaw as a related party kept his hands off from the situation during the whole time (whilst running the firm which was being sabotaged left, right and centre during the entire time by parties opposed to the company coming out whole). They were all concerned that it would turn into another Kian Joo/Tan Chong fiasco. Which shareholder would like this to take 10 years to resolve in all honesty?

And also at the same time, Vincent Leaw himself was very down over the whole thing, to the point that (from what I've heard) he wanted to give up on the company. The board rightly stepped up and convinced him against doing so. If he had left, let's face it, the company would be totally f*-ed up. Is that again in the best interests of shareholders?

I found this to be a very credible reason for the amounts paid to them. At the end of it, bear in mind that all three directors are still active professionals, and for the amount of time and effort they put in for the amount they were paid, well let's say they could have earned more in their respective professions.

Think about it. The chairman is running LH-AG, the law firm. Wong, one of the other directors is running his own corporate advisory firm, and he'd make a lot more money in doing deals than he did in fixing the company's problems.

What do the shareholders think they should have done? Resign? Surrender and give up? The only one who would be happy is that lying piece of shit, kukuman and his army of clone accounts posting on this board.


With regards to the fee paid to the MD, I'm personally pissed off with the Edge. They interviewed some of the shareholders walking out of the AGM (after I had asked and received the answer to that question), and the only thing they picked up and quoted in their publication was that I was unhappy with the MD's pay package. I asked for a reason from the board and got one. But the Edge in their brilliance didn't even bother to print the answer (I'm guessing this is because they didn't even want to know, sensational stories sell).

Hell they even got the COO's name wrong. Bernard to Desmond. How the hell do you do that?

The reason given by the board to my query which I'm reasonably satisfied with (which of course the lying sack of shit on this forum will vehemently disagree - after all if Benalec says the run rises in the east, that sack of shit will say it rises in the west), a large chunk of that payment is deferred compensation from 2013. This was a variable bonus (not just based off revenue/profit) to be paid to him then, but he (Vincent Leaw) deferred it as the whole brouhaha with the brothers exploded at that point and he felt it wasn't right to be paid until things were settled.

The board decided after the HoA and matters were done, and the fact that the company was back on track (lots of land sales announced in 2014 but which will only be recognised in 2015 - which most people except for the lying sack of shit and his clones will understand), he should be paid that deferred bonus.

Granted it's not the best of timing, and frankly yes the compensation is higher than industry standards. But the bloody Edge even got the reasoning wrong. "It's because he works hard" which is what they attributed as the reasoning.

My subsequent queries after the AGM confirmed that 2015's executive compensation will be very much lower than 2014 (even though profit should be up substantially). I was told what a rough estimate of it will be like and find it acceptable. Also independent director fees should also normalise in 2015 as they no longer have numerous meetings to fix things.

Posted by Simon Lau > 2014-12-24 20:17 | Report Abuse

tq taciturn.

Posted by Aidil Satar > 2014-12-25 14:10 | Report Abuse

so... dont buy this share?

Posted by Ah Ha > 2014-12-26 10:54 | Report Abuse

hi taciturn, wrong practice means wrong. don't tell that next year the compensation will normalize. It's like slap you in the face and say sorry later.
You not represent us and shareholder interest first rather than own compensation. Director remuneration should be aligned with share price/company performance.

Posted by taciturn > 2014-12-26 13:35 | Report Abuse

Ah Ha: Let's be clear.

I am not a director of Benalec.

I am not an employee of Benalec.

I posted here the explanation that was given to me by the board.

I am satisfied with the explanation.

If you are not, that is your privilege.

But I definitely do not owe anybody anything.

If you do not like what I post, feel free to skip it. My postings are meant for investors who are interested to hear the reasons.

If you are dissatisfied, then you as a shareholder should do one of the following.

a) Attended the past AGM/EGM. Attend any upcoming AGM/EGMs when announced. If you cannot do so in person. Send a proxy.

b) Ask questions, or express your dissatisfaction during said meeting. Listen to the answers and then _you_ decide whether it's acceptable. Vote against the resolutions if any. Yes, the major shareholder has a huge block of shares, but bear in mind voting in the past two meetings were by poll. If _only_ the major shareholder votes yes and every other minority shareholder votes no, do you think the board will still go ahead and approve of it? The moral principle there will likely force them to think twice.
And FYI, the poll vote results are available on bursa announcements, you can see those who voted against the resolutions were very small in number.

c) If you could not be bothered (or use the standard excuse - "no time lah!") to attend the AGM/EGM, then it's up to you to go and contact either the directors or management (via the investor relations executive) to get answers to your queries. The email contacts are available on the website if I am not mistaken.

If you could not care less to do any of the above, carry on complaining to deaf ears. No one here has an obligation to do your responsibility for you. There is no free lunch.

There are days I get more and more tired with giving answers to readers here. Then there are also lying scumbags like kukuman who are aberrations in reality.

In all honesty, I am tempted to just forget about posting anything further and simply use any information I learn for myself and my circle of peers. After all, I am not being compensated for spending my time and energy here.

If you do not like the contents of my postings, please, do not bitch at me. I am just the messenger. Feel free to bitch directly towards the board/management.

Posted by where > 2014-12-26 13:37 | Report Abuse

Taciturn dont understand the lesson. If shareholders never brought up during AGM, next year fee should be RM10 million. As MD, he may be enjoys others benefits in kinds (not accusation as i used the word maybe).

Posted by taciturn > 2014-12-26 13:43 | Report Abuse

where: I have no clue what you're saying.

P/S: Try reading my postings above. Especially the one where I mentioned _I_ was the one who raised the question about both board compensation and the MD's compensation.

Posted by rocketbull > 2014-12-26 13:49 | Report Abuse

Thank you Taciturn for all the updates.

Posted by taciturn > 2014-12-26 16:09 |

Post removed.Why?

Posted by Simon Lau > 2014-12-26 16:27 | Report Abuse

thank u taciturn. when a stock price fall everyone looking for someone to blame, is there any business that can be built in one day and without any setback?? i u dont think the company will get the johore project going just stay away from this company and dont simply abuse someone bcoz they are optimistic about this company. plssssssss buy at ur own risk!!!!!!!!!!!!!grow up!!!!!!!!!!!!!!!

Posted by happyvic > 2014-12-26 17:15 |

Post removed.Why?

Posted by raisa > 2014-12-26 22:47 | Report Abuse

Thank you , taciturn. I was there at the AGM and I heard your questions and also listened to the rationales/answers given by the boards. I can assure readers here, that the feedbacks/reports shared by taciturn with regards to the Q&A during the 22nd Dec AGM are as what had transpired.

Posted by taciturn > 2014-12-26 23:28 | Report Abuse

raisa: Thanks for the response. Appreciate it.

Posted by Kukuman > 2014-12-26 23:59 | Report Abuse

Raisa, your very first post is to praise the spinner. And immediately the spinner thanked you. Good try. Taciturn aka savvyone must be very delighted

Posted by calvintaneng > 2014-12-27 00:04 | Report Abuse

Hi Kukuman

This Benelac looked like Over Sold Already

I think you can buy some for a Chinese New Year Rebound

On the 2nd Link Bridge I can see Benelac reclaimed a long stretch of land already before Singapore Govt brought up the issue to KL and then it stopped.

I hope to buy some Benelac on weakness

Posted by Kukuman > 2014-12-27 00:10 | Report Abuse

Contra play as much as you like. But not for extra long term as some spinner trying to convince you

Posted by taciturn > 2014-12-27 00:52 | Report Abuse

I've never had to make duplicate accounts unlike a certain lying negative spinner.

It's okay, we all know you're desperate. When you lie and attribute untrue quotes to me, it shows that you're scraping the bottom of the barrel.

You can't even argue rationally.

Special-nyer...

Posted by staind86 > 2014-12-27 01:12 | Report Abuse

Calvintaneng, the long stretch of reclaimed land you saw are not done by Benalec. Lol. That belong to country garden's forest city. Haha. Tanjung piai is not far away from second link.

Posted by fortunebullllz > 2014-12-27 08:52 | Report Abuse

Taciturn, i salute your stamina posting very long comments. it is like an essay. It must be taking you a long time to write. I can only think you are a writer or too free in your life ! I dont see many appreciate what you write. You should just stop writing ! Waste time and waste space ! Nothing to prove here. If Share price up, you are vindicated even though you only write one word !

Posted by honeydew > 2014-12-27 09:18 | Report Abuse

how do u know not many appreciate!!!! u speak thru ur askhole!!!!

Posted by Muarmali > 2014-12-27 10:51 | Report Abuse

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. by kltrader.

not yet start work but can guarantee profit already? selling dream or what???

7 mil profit vs 8 mil director fee. the group MD's remuneration is excessive!!!

Posted by Ryanteh > 2014-12-27 11:52 | Report Abuse

Don’t know when can they stop this spin story again and again. It likely to trap more innocent investors.

Posted by taciturn > 2014-12-27 12:18 | Report Abuse

Muarmali: How does an "estimate" (as you've stated above) equate to guaranteed net profit?

Posted by where > 2014-12-29 09:20 | Report Abuse

with recent heavy floods throughout Malaysia, I wonder DOE can easily grant approval without any major issues. I wonder the authorities will not ask lots questions and giving hard time.

Posted by where > 2014-12-29 09:41 | Report Abuse

Anyone can answer me? @taciturn and @kukuman @jjwong.

One side the MD said he wants to be transparent and do not want to involve in boardroom tussle. to prevent conflict of interest. On other hand, the management said reward seng hai handsomely because he worked hard to resolve board room tussle. Question now is who are the one that solve board room tussle? The independent or executive directors? Another conflict statement caught red handed. Serious transparency & corporate governance excuses.

Posted by happyvic > 2014-12-29 10:00 | Report Abuse

I appreciate what taciturn posts... at least he posts facts and not opinions like the rest...

jjwong only knows 1 fact... appreciate that too... but its getting old... please stop spamming with the same news.. go google more news for us please

Posted by taciturn > 2014-12-29 10:57 | Report Abuse

Where: The payment to the MD is not for resolving the board room tussle.

The payment was for a deferred bonus for 2013.

Bonus was deferred (at MD's request) BECAUSE of the board room tussle.

Posted by taciturn > 2014-12-29 11:04 | Report Abuse

Where: Perhaps you have not bothered to read my previous statements. I clearly stated that it was the independent directors that resolved the mess.

I'm not sure what "conflict statement caught red handed" you're talking about. As far as I know, I have not been posting anything that conflicts with each other.

On the other hand, you seem to be nit picking for faults, and making them up when none seem to be there.

I find that highly disappointing. I believe I shall skip all your postings from now on. Do carry on. Perhaps there are still windmills for you to contend with out there.

Posted by jjwong > 2014-12-29 13:26 | Report Abuse

some time it is then more impressive than speech.

Posted by taciturn > 2014-12-29 14:09 | Report Abuse

Where: I shared my comments based on what I learned from the board and management during the recent agm & egm.

I've already stated my disgust at how The Edge chose to interpret my questions on remuneration as well as the fact that they totally ignored the answer I received.

BFM made their comment based on what The Edge report stated.

I find it laughable that you consider their (The Edge's) screwed up reporting to be more reliable than the responses I've received and which I've tried to reproduce here as accurately as possible.

In short, reporters can screw up. You can't seem to accept that.

The two brothers resigned. They could have been fired for malfeasance/criminal breach of trust. This is probably difficult for you to understand, but when you have committed a wrongdoing, you very likely won't be paid any bonuses.

Also you probably are aware that with regarda to the reversed land sale to the 2 brothers, almost immediately after the reversal was done (RM28m) the land was sold to an unrelated third party (for RM42m if I recall correctly). I don't understand why you'd consider this to be a bad thing. And FYI this deal is 100% completed. RM28m out of Benalec's bank account and RM42m into it.

In short what you're saying is that I can't get answers out of the board & management. Only the media and radio stations can. And you wonder I'm annoyed and irritated at your ludicrous statements?

This is my final posting to you. From now on I will not be correcting or rebutting your statements, even should they be directed at me.

You have already wasted enough of my time as it is.

Posted by TAGS80 > 2014-12-29 14:23 | Report Abuse

yet u still take your precious time to reply every time someone posted comments which you think is negative towards this company. hmmm.. interesting.

Posted by where > 2014-12-29 14:25 | Report Abuse

Bro....... i got someone there during AGM. As far as i know, the board / management never highlight this during meeting? You mean your private meeting between u and Board / Management? Seems they treat you quite well.... maybe you hold lots shares... wakaka

Posted by taciturn > 2014-12-29 14:34 | Report Abuse

TAGS80: Since he was questioning my integrity there, yes, I would make a long reply.

If someone has a good constructive points that are negative about the company, I would be delighted to read them and perhaps debate on them,

Thus far I've seen very few that are. Issues that have been addressed and resolved, they bring up again. Issues that are pure BS (which you can disprove by looking at bursa announcements, annual report or quarterly results), they highlight.

Some statements make me laugh (company going into PN17 if bond not issued), whilst others make me want to cry in frustration.

The one thing I value is my reputation. Because when I die, that's the only thing I'll take with me.

Posted by where > 2014-12-29 14:38 | Report Abuse

Bro Taciturn.... some point you raised/highlighted quite true and fact. But you not in Melaka bro... heard they always delay payment to suppliers. I can say you are 90% correct. Remaining 10% mainly on ground information i heard. Also, i heard approval for DOE is unlikely. Let see coming Q1 2015.

Posted by happyvic > 2014-12-29 14:46 | Report Abuse

taciturn, I already ignored those ridiculous comments, I suggest you do the same. makes you live longer and happier... you can reply them today... 3 days time they will post the same thing again... and someone is gonna say... MD paid too much... some retard is gonna say.... OMG oil price gonna drop to $40! and someone is gonna say.. "I have someone at AGM... as far as I know" <--- this statement... is that someone referring to himself? if he wasn't there... he doesn't know... so don't bother replying dumbfarks...

Posted by where > 2014-12-29 15:00 | Report Abuse

share price dropped is matter of fact
MD highly remunerated is matter of fact
Board room tussle is matter of fact
Fund raising is matter of fact
Low dividend is matter of fact

Posted by ykloh > 2014-12-29 17:49 | Report Abuse

I was at the AGM. I can confirm that all taciturn's posts about the AGM are accurate. In fact he was sitting in the front row throughout the meeting, not at a table in the dining table waiting fore lunch to be served.

Posted by taciturn > 2014-12-29 18:10 | Report Abuse

ykloh: Thank you for your comment. Hopefully this would be sufficient confirmation for those who don't seem to believe me.