Benalec to get Johor project?

  • 3,000 turn up at emotional memorial service for Karpal
    3,000 turn up at emotional memorial service for Karpal

    It was a night of mixed emotions at a memorial for the late Karpal Singh which was attended by more than 3,000 people at the Kuala Lumpur-Selangor Chinese Assembly Hall yesterday. There were tears, laughter, defiance, grief and above all, respect from those who begin arriving as early as 6pm to pay their respects to the late veteran lawyer and... …

  • We ask no favours, and will ‘fight till the end’ to clear Karpal’s name, says Gobind
    We ask no favours, and will ‘fight till the end’ to clear Karpal’s name, says Gobind

    Karpal Singh's family does not expect any "favours" from Putrajaya in their appeal against the late lawyer and politician's conviction and sentence for sedition, his son Gobind Singh Deo told a crowd of more than 3,000 last night. The Puchong MP said he was aware of growing calls for Attorney-General Tan Sri Abdul Gani Patail to drop the... …

  • Susan Rice to meet Anwar during Obama visit
    Susan Rice to meet Anwar during Obama visit

    Top White House national security aide Susan Rice (pic) will meet opposition leader Datuk Seri Anwar Ibrahim when President Barack Obama's regional tour reaches Malaysia, a senior US official told AFP yesterday. Obama is set to arrive tomorrow in what will be the first visit to Malaysia by a sitting US president in nearly half a century. He... …

  • Report: Selangor offer to water companies inferior
    Report: Selangor offer to water companies inferior

    PETALING JAYA, April 25 — The Selangor government offer of RM9.65 billion to nationalise water companies in the state is significantly less attractive compared to previous buyouts by Pengurusan... …

  • At memorial service, Karpal remembered as father, lawyer, friend
    At memorial service, Karpal remembered as father, lawyer, friend

    KUALA LUMPUR, April 25 ― In a scene reminiscent of last Sunday's state funeral in Penang, thousands turned up at last night’s memorial service to pay respects to the late Karpal Singh, a man... …

  • Gobind: No need to withdraw conviction, I will fight for Karpal
    Gobind: No need to withdraw conviction, I will fight for Karpal

    KUALA LUMPUR, April 25 ― Gobind Singh Deo vowed last night to fight tooth and nail to clear Karpal Singh’s name, saying there was no need to ask the Attorney-General to withdraw his late father’s... …

KUALA LUMPUR (Nov 10): Benalec Holdings Bhd has suspended the trading of its shares on Thursday, ahead of a likely announcement of a major land reclamation project in Johor.

In a statement to Bursa Malaysia asking for the suspension, the company said it intends to release an announcement on a material contract on Thursday.

Sources said Benalec is likely to announce a land reclamation project to create a large oil and gas (O&G) hub in the Pengerang area, on the southern tip of Johor.

Pengerang is home to Dialog Group Bhd's project to develop a deepwater petroleum terminal and tankage facilities. Dialog's terminal involves tankage facilities for handling, storing, blending and distribution of crude oil and petroleum products, together with marine facilities capable of handling large crude carriers with a water depth of up to 26 metres.

Benalec's project, it is believed, will likely involve reclaiming land to house a major industrial park for companies and facilities serving the O&G industry there. The park is expected to cater for businesses spanning the entire value chain of the oil and gas industry, including oil terminals, steel and shipyards.

Benalec, whose niche is in marine construction and reclamation, is likely to undertake the job and will develop part or all of the land.

The project will be one of the biggest reclamation jobs for Benalec outside its traditional base of Melaka, where it has reclaimed over 2,000 acres, mostly for mixed development use.

The company undertook its first reclamation job in Langkawi, Kedah, in 2000, followed by one in Port Klang in 2003, but has since focused mostly on Melaka.

A week ago, Benalec announced to Bursa Malaysia that its wholly-owned units Pengerang Maritime Industries Sdn Bhd and Tanjung Piai Maritime Industries Sdn Bhd had acquired stakes of 70% in Spektrum Kukuh Sdn Bhd and Spektrum Budi Sdn Bhd for RM7,000 each.

While the amounts involved are small, it is interesting to note that Benalec's partner in these ventures is the crown prince of Johor — Tunku Ismail Idris Tunku Ibrahim.

Tunku Ismail and Daing A Malek Daing A Rahaman are directors of Spektrum Kukuh and Spektrum Budi and they hold the remaining stakes of 21% and 9% respectively in the two companies.

Both companies were incorporated in April 2011 and listed their principal activities as property investment holding. Besides Tunku Ismail and Daing A Malek , other directors are Leaw Seng Hai, Datuk Leaw Tua Choon and Leaw Ah Chye, according to Benalec's announcement to Bursa Malaysia.

Prior to this, Benalec announced on Oct 31 that it had sealed a RM36.60 million contract to reclaim 60 acres of land on the coast of Pulau Konet, Alor Gajah, Melaka. Benalec said its unit Benalec Sdn Bhd had sealed an agreement with Anzeco Coal Terminal Bhd, a unit of Anzeco Corp (M) Sdn Bhd, to undertake the reclamation.

"The contract sum for the reclamation works to be executed by Benalec shall be at RM36.60 million only, which shall include all costs, expenses and payments," it said.

To recap, on Feb 1, 2010, the Melaka government signed a reclamation agreement with Anzeco Corp in which the latter was given the right to reclaim that portion of the coast of Pulau Konet measuring 60 acres.

Benalec said the reclamation will start within four weeks from the date of the agreement or upon Anzeco obtaining all necessary approvals, whichever is later. The reclamation is expected to be completed within 18 months.

Among the projects Benalec delivered previously were the turnkey design-and-build of the jetty, helipad and associated works at Pulau Perak, Kedah; construction of a marina at Puteri Harbour, Nusajaya, Johor; and land reclamation and soil improvement for Glenmarie Cove, Port Klang.

Besides marine construction, the company is also involved in the vessel chartering and marine transport businesses.

It currently owns around 93 vessels, which are mainly used to support its marine construction activities. The vessels are also deployed for chartering services for third-party clients such as dredging and reclamation contractors, and for the oil and gas, offshore construction, general cargo, and bulk cargo industries.

For the financial year ended June 2011, Benalec posted a net profit of RM96.08 million on the back of RM214.49 million in revenue.

The stock closed five sen higher at RM1.43 with 15.29 million shares traded on Wednesday.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • My last moments with Pa: Ramkarpal Singh The Malaysian Insider
    My last moments with Pa: Ramkarpal Singh

    A week after the tragic crash that took the lives of veteran lawyer and politician Karpal Singh and his personal aide, Michael Cornelius, his son Ramkarpal recounts the final hours with his father that fateful day. This is his story, as told to V. Anbalagan, assistant news editor. “My parents (Karpal and Gurmit) had gone to Pantai Hospital... …

  • In Disney's shadow, homeless families struggle Associated Press
    In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple and their two children have instead been hopping among cheap motel rooms along U.S. 192. …