Tuesday, September 18, 2012

Benalac ... Sep12

Benalec, which the rights to reclaim land at the southern tip of Johor is negotiating with several foreign tank farm operators to sell it the first reclaimed parcel of 250 acres.

The company is confident of closing a deal within the next few months and expects to commence reclamation works at Tanjung Piai, Johor as early as the second half of 2013.

The tank farm operators are from the Middle East, Europe and China. Some of them are already operating at the Jurong Industrial Park in Singapore, but they are looking for more land to expand their capacity.

The company expects earnings from the reclamation works to be reflected in its earnings for the financial year ending June 30, 2014.

The 250 acre parcel is just a small portion of the thousands of acres of reclaimable land Benalec is entitled to in Johor, but being the first, its success is crucial for the company to market the entire project on the international stage.

It had signed two development agreements with the Johor government to reclaim 3485 acres in Tanjung Piai and another 1760 acres along the shoreline of Pengerang, also in Johor.

The DAs essentially allow Benalec’s 70% owned Spektrum Kukuh Sdn Bhd and Spektrum Kukuh Sdn Bhd, to reclaim land in the two areas and obtain a lease of 99 years. In return, the Johor government would get an undisclosed amount of upfrom premium plus 3% of the gross sales of the net saleable area of the reclaimed land. This is to ensure that the state government rides the upside potential of the valuation of the land.

Johor has several property projects catering for the oil and gas industry. In the face of competition, Benalec’s strategy is to sell the plots of Tanjung Piai to international tank farm operators, not only for storage of crude oil but also edible oil. As for the plots in Pengerang, it hopes to sell them to fabricators.

The company could carve out a niche amid the ongoing developments in the 22000 acre Refinery and Petrochemical Integrated Development (RAPID) complex, which is also in Pengerang. RAPID is an initiative led by Petronas, there is a possibility of Benalec’s Pengerang project being included in the RAPID master plan.

There is interest in the Benalec plots because both the entitlement areas (Tanjung Piai and Pengerang) have good sea frontage and will be accessible to sea transport. The company plans to build a jetty at Tanjung Piai and a port at Pengerang upon completion of the reclamation works.

In terms of the funding the reclamation works, the company has raised rm100 million from a placement exercise and is looking to borrow another rm100 million. Benalex is presently net cash.

Benalec plans to sell some reclaimed parcels in Klebang, Melaka to raise funds. The company still has 300 acres of reclaimed land there that is available for sale. It also has the rights to reclaim another 500 acres along the Klebang shore, where the Boon Siew group is planning a lifestyle and medical city development.

Benalec had been holding back the sale of its reclaimed land in Melaka while approving for a new highway to be built there.

Benalec’s major shareholder and MD Datuk Vincent Leaw has been acquiring shares in the open market, raising his family’s stake to 54.41% as at Sept 12, 2012. The company has been buying back its own shares.

98 comments:

Anonymous said...

xanax online xanax effects during pregnancy - high on xanax bars

Anonymous said...

buy xanax online legally xanax drug test - order xanax overnight online

Anonymous said...

buy tramadol online tramadol 50 mg snort - tramadol 50mg price

Anonymous said...

buy tramadol cod tramadol online no prescription overnight delivery - what is tramadol 50mg tablets

Anonymous said...

buy tramadol online tramadol 750 mg - buy cheapest tramadol online

Anonymous said...

generic tramadol tramadol dosage 100 pound dog - can buy tramadol usa

Anonymous said...

buy tramadol online buy tramadol ultram ultracet online - tramadol withdrawal in infants

Anonymous said...

buy tramadol online best site buy tramadol - tramadol hcl 50 mg tab street value

Anonymous said...

xanax online online doctor prescription xanax - buy xanax in thailand

Anonymous said...

buy generic tramadol buy tramadol online free shipping - order tramadol us pharmacy

Anonymous said...

generic xanax should buy xanax online - xanax xanax bars

Anonymous said...

xanax online half xanax drug test - buy cheap xanax overnight

Anonymous said...

xanax online order xanax legally online - xanax bars 56 65

Anonymous said...

buy tramadol online mastercard overnight tramadol dosage for dogs - buy tramadol cod online

Anonymous said...

buy tramadol online tramadol buzz - addiction potential of tramadol

Anonymous said...

buy tramadol online tramadol codeine high - best place buy tramadol online

Anonymous said...

buy tramadol online tramadol 50 mg price street - where can you buy tramadol online

Anonymous said...

buy tramadol online buy 200 mg tramadol online - tramadol ultram recovery

Anonymous said...

buy tramadol online buy tramadol line usa - tramadol 50 mg cheap

Anonymous said...

generic xanax xanax high feel like - generic brand for xanax

Anonymous said...

buy tramadol online tramadol dosage iv - tramadol generic for ultram

Anonymous said...

buy carisoprodol carisoprodol over the counter - buy carisoprodol cheap

Anonymous said...

order carisoprodol online carisoprodol soma 350 - buy soma carisoprodol online

Anonymous said...

tramadol generic tramadol 200 mg get high - can i take 100 mg of tramadol

Anonymous said...

purchase xanax does xanax show up job drug test - xanax pills high

Anonymous said...

xanax buy online no prescription xanax side effects paranoia - 30 mg xanax overdose

Anonymous said...

generic xanax xanax side effects men - order xanax prescription

Anonymous said...

buy tramadol online can you buy tramadol over counter - tramadol 100mg vs vicodin

Anonymous said...

buy tramadol online us tramadol online pharmacy - online pharmacy review tramadol

Anonymous said...

order carisoprodol carisoprodol 350 mg street price - side effects soma carisoprodol tablets

Anonymous said...

carisoprodol 350 mg carisoprodol 350 mg street price - carisoprodol soma watson 350 mg

Anonymous said...

buy tramadol online buy tramadol online usa - safe place order tramadol online

Anonymous said...

where to buy cialis online no prescription cialis 7 day trial - cheap cialis from usa

Anonymous said...

buy tramadol online buy tramadol online no prescription mastercard - buy tramadol in usa

Anonymous said...

buy tramadol online tramadol dose get high - tramadol 100mg

Anonymous said...

cialis online cialis reviews - cialis online legitimate

Anonymous said...

xanax online many bars xanax overdose - xanax side effects appetite

Anonymous said...

buy cialis online cialis super active - buy cialis online eu

Anonymous said...

cialis online buy real cialis online - how well does cialis daily work

Anonymous said...

xanax online xanax in your system drug test - what does xanax generic look like

Anonymous said...

buy cialis online generic cialis 2.5 mg online - generic cialis online pharmacy

Anonymous said...

cheap cialis cialis online test - cialis mexico

Anonymous said...

cialis 10mg cialis back pain - buy cialis online no prescription

Anonymous said...

cialis online once daily cialis reviews - best price cialis 20mg

Anonymous said...

cialis no rx cialis price canadian pharmacy - cialis 5 mg daily cost

Anonymous said...

xanax online xanax pills they used - xanax withdrawal and seizures

Anonymous said...

cheapest cialis buy cialis in ireland - buy cialis kl

Anonymous said...

cialis online buy cialis england - cialis and alcohol

Anonymous said...

xanax online buy xanax online no prescription cheap - buy xanax online no rx

Anonymous said...

cialis online cialis online prescription order - much cialis daily use

Anonymous said...

cialis for sale buy cialis line - buy cialis 100mg online

Anonymous said...

learn how to buy tramdadol tramadol for dogs 50 mg - buy tramadol us pharmacy

Anonymous said...

http://landvoicelearning.com/#30896 nebenwirkungen von tramadol 100mg - cheap online tramadol no prescription

Anonymous said...

learn how to buy tramdadol buy tramadol online in usa - buy tramadol online with cod

Anonymous said...

http://landvoicelearning.com/#63987 get tramadol online no prescription - buy tramadol online with visa

Anonymous said...

buy tramadol cheapest tramadol online no prescription needed - tramadol 50mg for dogs dosage

Anonymous said...

buy tramadol tramadol retard medartuum 100mg - tramadol dosage dogs 50 mg

Anonymous said...

http://buytramadolonlinecool.com/#91646 tramadol ultram 50 mg - buy tramadol hydrochloride 50mg

Anonymous said...

http://landvoicelearning.com/#63987 tramadol hcl 200 - buy tramadol pet

Anonymous said...

learn how to buy tramdadol buy cheap tramadol online cod - tramadol dosage medication

Anonymous said...

learn how to buy tramdadol buy tramadol 100mg - tramadol contraindications

Anonymous said...

buy tramadol online tramadol 100 mg lp - tramadol addiction usa

Anonymous said...

learn how to buy tramdadol can you buy tramadol over counter us - tramadol 50mg buzz

Anonymous said...

buy tramadol online us pharmacy no prescription tramadol - tramadol 100mg 2 ml

Anonymous said...

http://landvoicelearning.com/#63987 tramadol otc - tramadol addiction and withdrawal symptoms

Anonymous said...

learn how to buy tramdadol tramadol dosage extended release - kind drug tramadol 50mg

Anonymous said...

buy tramadol tramadol online buy - tramadol 50 mg and ambien

Anonymous said...

http://landvoicelearning.com/#57594 generic tramadol online no prescription - tramadol withdrawal day 2

Anonymous said...

learn how to buy tramdadol tramadol qt interval - buy tramadol online overnight usa

Anonymous said...

learn how to buy tramdadol buy tramadol without script - buy tramadol online usa

Anonymous said...

buy tramadol tramadol street value 50 mg - tramadol hcl 50 mg tab side effects

Anonymous said...

learn how to buy tramdadol buy tramadol online next day delivery - order tramadol online reviews

Anonymous said...

learn how to buy tramdadol 350 mg tramadol high - tramadol in pregnancy

Anonymous said...

buy tramadol online with mastercard safe place order tramadol online - tramadol 50 mg medication

Anonymous said...

http://buytramadolonlinecool.com/#30807 buy tramadol faq - tramadol hcl pills

Anonymous said...

ways to buy ativan online ativan dosage and mri - ativan dosage chart

Anonymous said...

ways to buy ativan online can someone overdose ativan - ativan dosage for panic attacks

Anonymous said...

http://reidmoody.com/#51208 ativan vs klonopin - generic form of ativan

Anonymous said...

http://ranchodelastortugas.com/#82165 xanax xr dosage information - pass drug test after taking xanax

Anonymous said...

http://ranchodelastortugas.com/#50698 xanax partydrug - does all xanax pills look like

Anonymous said...

buy tramadol online tramadol buying online legal - tramadol dosage dogs after surgery

Anonymous said...

buy tramadol online ic tramadol hcl 50 mg side effects - tramadol dosage drops

Anonymous said...

buy tramadol online tramadol hcl drug class - best site purchase tramadol

Anonymous said...

http://staam.org/#56274 buy tramadol online without prescriptions - purchase tramadol in usa

Anonymous said...

http://ranchodelastortugas.com/#50238 xanax overdose treated - xanax generic pills look like

Anonymous said...

buy tramadol online buy tramadol online florida - can i buy tramadol in usa

Anonymous said...

cheap tramadol no prescription tramadol 911 - tramadol hcl bp

Anonymous said...

buy tramadol next day tramadol purchase fedex - tramadol gastric bypass

Anonymous said...

http://ranchodelastortugas.com/#37284 buy alprazolam 2mg online no prescription - buy xanax online with a prescription

Anonymous said...

buy tramadol online cheap tramadol 50 mg for humans - tramadol ultram dosage

Anonymous said...

buy xanax online xanax pills look - symptoms of xanax overdose in dogs

Anonymous said...

buy xanax online xanax side effects euphoria - xanax.drugs.com

Anonymous said...

http://ranchodelastortugas.com/#71453 long will xanax high last - xanax drug test detection time

Anonymous said...

buy alprazolam online extract movie quotes xanax - xanax effects muscle growth

Anonymous said...

where to buy xanax online xanax side effects while pregnant - xanax dosage dental

Anonymous said...

buy xanax xanax street value - do employers drug test xanax

Anonymous said...

xanax pills xanax drug with alcohol - xanax long term effects

Anonymous said...

http://bayshorechryslerjeep.com/#2902 xanax generic list - xanax 2mg cod