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6,238 comment(s). Last comment by calvintaneng at Jul 4, 2020 9:02 PM
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Johnchew5
1746 posts

Posted by Johnchew5 > Jun 18, 2020 9:03 PM |

Post removed. Why?


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 18, 2020 9:04 PM |

Post removed. Why?


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 18, 2020 9:05 PM |

Post removed. Why?


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 18, 2020 9:07 PM |

Post removed. Why?


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 18, 2020 9:08 PM |

Post removed. Why?


man72
272 posts

Posted by man72 > Jun 18, 2020 9:39 PM | Report Abuse

Thanks a lot to Johnchew5 for the info.


calvintaneng
37041 posts

Posted by calvintaneng > Jun 19, 2020 7:34 AM | Report Abuse

Zelan with time debt bomb of rm550 millions is insolvent and will end in bankruptcy

Only work left is lawsuit after lawsuit that result in futility

Don't waste time here

Leave this forsaken lapsap and buy these

Netx
Wtk
Texchem
Naim
Scomies
Supermax
Topglove
Kossan

Any of the above is better than bankrupt zelan


Gala Kat
501 posts

Posted by Gala Kat > Jun 19, 2020 7:04 PM | Report Abuse

Counter is as good as dead. RIP !


jemi2020
6 posts

Posted by jemi2020 > Jun 20, 2020 8:43 PM | Report Abuse

If company/group is liable or pay the income tax, it still breathing... don’t bother about rumors or speculation..


longvalley
1867 posts

Posted by longvalley > Jun 21, 2020 7:17 AM | Report Abuse

........ baru nak hire chef wan..... barulah hidangannya lebih lazat...... tambah garam, tambah gula, tambah asam..... klu perlu tambah perisa..... baru kaw asam pedasnya.........


sowQ
170 posts

Posted by sowQ > Jun 23, 2020 2:04 PM | Report Abuse

something cooking ...coming soon?


koyokui
922 posts

Posted by koyokui > Jun 23, 2020 3:00 PM | Report Abuse

Buy zelan playing around here


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:47 AM | Report Abuse

Referred to Zelan FY19 4Q as at 31/12/2019 , Borrowings :

Secured Term Loan = AED 84,806,000 = RM 94,491,000

Secured Islamic Financing = RM 452,957,000

Unsecured Hire Purchase = RM 267,000

Total = RM 547,715,000 .

Meena Plaza Abu Dhabi project loan amount balance = RM 94, 491,000 as impairments is carry out along the years .

As said IIUM final project cost is = RM 390,000,000 .

IIUM project is fully completed and acceptance with payment effective from Dec2018 . Per Q4 report proceed receive start from May2019 .

SUKE project is scheduled to complete by Feb2020 with contract value RM 257,000,000 . Balance amount to be claim is over RM 100 million .

2 projects borrowings is estimated:

390 million -37 million = RM 353 million + RM 100 million = RM 453 million .

Meena Project balance borrowing = RM 94.5 million .

Sum = RM 547.5 million


Referring to FY19 Q4 with 1 year accumulation , administration expenses = 11 million , finance cost = 40 million , total = 51 million , with IIUM cash cow RM 75 million per year over 17 years , still a surplus.

FY19 is turned to Profit.

MMC is Zelan major shareholder .

Out of total debt RM 547.5 million ,abt RM 100 million is the performance bond and maintenance bond which Meena demand on 2015 .


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:47 AM | Report Abuse

See Meena Holdings LLC is subsidiary company of a Public Listed company which major shareholder is Royal Group (UAE) with 81.6 % :

Company Name
International Holdings Co PJSC (ASMAK)
Company Purpose
International Holdings Co PJSC (known as: IHC) is a public company, listed on Abu Dhabi Securities Exchange (ADX) since October 2005. IHC operates within the Food, Beverage and Tobacco sector focusing on Packaged Foods and Meats. IHC is based in Abu Dhabi, UAE and was established in May 1999.
Company Establish Date
22 May 1999
Financial Year Start
First Quarter
Auditor
* Deloitte and Touche - Middle East


Subsidiaries
* IHC Real Estate Holding LLC
* Trust International Group
* Cine Royal Cinema LLC
* PAL Cooling Holding
* Palms Sports LLC
* Zee Stores LLC
* Al Ajban Chicken LLC
* Alliance Food Security Holdings USA
* Forrajes San Mateo SLU
* PAL Danat Cooling
* Asmak Holding Co Ltd
* Alliance Foods Co LLC
* IHC Capital Holding LLC
* International Holdings Company RSC Ltd
* Integrated Securities LLC
* Emirates Stallions Properties LLC
* Gulf Dunes Landscaping and Agricultural Services LLC
* Shuaa Capital International Ltd
* Century Real Estate Investment LLC
* Asmak Al Arab LLC
* Alliance Food Security Holdings LLC
* Lazio Real Estate Investment LLC
* Progressive Real Estate Development LLC
* Munnangi Sea Foods Pvt Ltd
* The Gombos Co LLC
* Mountain Gate Property Investment LLC
* Tafseer Contracting and General Maintenance Co LLC
*
* Meena Holdings LLC
*
* IHC Industrial Holding LLC


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:48 AM | Report Abuse

Update refer announcement dated 17/6/2020 :

Let's see the progress pending FY20 Q1 :

Meena indeed seek Abu Dhabi court injunction to stop International court award of RM 300 million but is failed . Refer latest FY19 Q4, zelan is in the process of registering the award in Abu Dhabi court n thereafter to proceed with the execution proceedings against the project owner .


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:48 AM | Report Abuse

Reference is made to the announcements on 19 August 2016, 7 October 2016, 4 August 2017, 13 November  2017 and 31 July 2019 in relation to the Arbitration initiated by a wholly-owned subsidiary of Zelan Berhad ("Company"),  Zelan Holdings (M) Sdn Bhd ("ZHSB")  against Meena Holdings LLC ("MH") as the employer pursuant to the Building Contract for Procurement, Construction and Completion of Package 2 Main Construction Package of Meena Plaza Mixed Use Development Project, Abu Dhabi, United Arab Emirates between MH and ZHSB ("Contract").
 
>> Further to its announcement on 31 July 2019 where ZHSB has obtained the Arbitration Award against MH, the Company would like to announce that ZHSB has been granted an order from the Abu Dhabi Commercial Court of Appeal (“ADCCA”) to ratify and execute the Arbitration Award against MH.

However, ZHSB has been informed by its solicitors in Abu Dhabi that MH has filed a Grievance Application in the ADCCA and the matter is fixed for hearing on 23 June 2020.
 
The Company will make further announcement on any material development in respect of this matter from time to time.
 
The Announcement is dated 17 June 2020.


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:53 AM | Report Abuse

Zelan is sueing NRY Architects on March 2019 for RM 300 million due to IIUM project is delayed 3 years .

NRY Architects is sizeable company with abt 80 architects . Its founder and Big boss is Najib brother .

expected the case will be resolved amicably, of course with win win solution.


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 5:59 AM | Report Abuse

Previous GM- Finance whom is handled Meena case is transferred to other MMC subsidiary company in 2015 after Meena is agreed to make payment and project to resume .

MMC is transferred her back to Zelan in 2019 , current position is COO.


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 6:01 AM | Report Abuse

Date of change 16 Mar 2020
Name ENCIK HAZIMI BIN BAHARUM
Age 52
Gender Male
Nationality Malaysia
Type of change Appointment
Designation Chief Executive Officer


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 6:01 AM | Report Abuse

Encik Hazimi Bin Baharum joined Zelan Berhad ("Zelan") in March 2010 as Head of Special Projects and was promoted as Chief Operating Officer on 1 February 2012 before leaving Zelan to pursue other career opportunities on 7 September 2016. He was previously the General Manager leading the Building and Environment Business Unit at Opus International (M) Berhad ("Opus"). Prior to joining Opus, he has also worked as a Project Manager for Zainuddin Parson and Brinckerhoff Sdn Bhd and Telekom Malaysia Berhad. He is a Project Management Professional certified by the Project Management Institute, United State of America and holds a Bachelor of Science in Civil Engineering from Lamar University, Texas, United States of America. His professional career for the last 23 years has been mainly focused on project and construction management for which he has gained vast experience in project business development, design management, planning and contract administration. He has played vital roles in various projects of different complexity including some major and prestigious projects like Bukit Jalil National Sport Complex, KL Sentral, Ipoh-Rawang Electrified Double Tracking and National Heart Institute (IJN) Expension Project


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 24, 2020 6:11 AM | Report Abuse

something is brewing, after Meena case Zelan is more prudent in job order secured .

More on concession projects with maintenance contract for the concession period such as :

1) IIUM with concession period of 17 years ( final agreement).

2) GITT : initial ECRL terminal hub in Gombak with concession period of 20 years . Later project is cancelled due to ECRL route is changed with compensation.


calvintaneng
37041 posts

Posted by calvintaneng > Jun 24, 2020 3:57 PM | Report Abuse

Mikecyc

Q2 : April to June will be worst due to MCO , CMCO , RMCO . IDSS n PDT are suspended since end March to June 2020 . Housing loan and car loan payment is postponed until September2020 . Wait for the 2nd Q GDP result.
24/06/2020 2:40 PM

ALREADY BURDENED WITH RM550 MILLIONS DEBT BOMB

AND LESS THAN RM5 MILLIONS CASH LEFT

ZELAN SURE GO INTO INSOLVENCY AND PN17 SOON

BETTER SELL AND RUN NOW!!


Mikecyc
5622 posts

Posted by Mikecyc > Jun 25, 2020 5:56 AM | Report Abuse

Looks like he is a broke person in desperate situations, just imagine a Sifu can do such a despicable acts : copy other person post then changed some contents then re post to mislead people, Beware..


calvintaneng SHOOTUP

Read this

Posted by Mikecyc > Apr 2, 2020 12:59 PM

Don't bother about the old hag shootup

A stupid busybody asking Calvin sifu how he buy or not buy Netx

This old hag nobody want not even mikecyc pui! Get loss!!

She should buy some netx herself if got money. Since she got none she is here to kacau.


YES MIKECYC

YOU CHUN CHUN ON SHOOTUP

CLAP

CLAP!

CLAP!!!
02/04/2020 11:52 PM


pamie
154 posts

Posted by pamie > Jun 25, 2020 4:35 PM | Report Abuse

https://www.theedgemarkets.com/article/zecon-3q-net-profit-jumps-596-rm915m-hospital-and-pan-borneo-jobs?type=malaysia

Zecon announced their QR today. Share price jumped a lot, up +24cents @ 61%. A lot.

Zelan, also in same group, pending QR. Hopefully a good one.


vivabursa
401 posts

Posted by vivabursa > Jun 25, 2020 11:21 PM | Report Abuse

Any updates on the hearing in Abu Dhabi on 23 June?


calvintaneng
37041 posts

Posted by calvintaneng > Jun 26, 2020 9:57 AM | Report Abuse

Huge debt load of Rm550 MILLIONS WILL WEIGH DOWN ZELAN

Cutloss and forget this lapsap

MOVE ON TO BETTER ONES

Can consider Kanger or Ageson if you want play play as Govt gave license to 11 Companies for sand export

Or Follow Calvin Buy Safe And Sure Ones

WZSATU

WTK

TEXCHEM

These are freedom stocks that will GROW & GROW!


calvintaneng
37041 posts

Posted by calvintaneng > Jun 28, 2020 10:43 PM | Report Abuse

Last call last call

Sell bankrupt zelan and buy cash rich Wtk now


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 28, 2020 11:43 PM | Report Abuse

Ho Ho let's see Q1 result, normally be out on the last day, netx Tuesday.

Expected to be a good one as insider info SUKE project RM 257 million which is extended be complete on February 2020 has over RM 100 million is not claim .

IIUM recurring income effective Dec 2018 which started to receive payment on May 2019 .


calvintaneng
37041 posts

Posted by calvintaneng > Jun 29, 2020 9:48 AM | Report Abuse

Forget this lapsap

Whatever little monies coming in Cannot cover the Big hole of Rm550 Debt load

Next will be insolvency and bankruptcy and final delisting

Sell before it drops back to 3 sen low!!!


calvintaneng
37041 posts

Posted by calvintaneng > Jun 29, 2020 10:15 PM | Report Abuse

Zelan turning holland soon!!

After suspended cry father cry mother or cry monkey mikecyc also no use leow!

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2020-02-07-story-h1483082239-NETX_VERSUS_DLADY_ZELAN_BENALEC_AS_ILUSTRATED_BY_CLEAR_EXAMPLES_Calvin_.jsp


pamie
154 posts

Posted by pamie > Jun 30, 2020 5:38 PM | Report Abuse

Zelan QR1 announced.

RM2.57m profit. Increased from previous.


Johnchew5
1746 posts

Posted by Johnchew5 > Jun 30, 2020 6:02 PM | Report Abuse

Meena appeal case hearing is rescheduled to 23/7/2020 as written in audited annual report.


apolloang
16286 posts

Posted by apolloang > Jul 1, 2020 12:22 AM | Report Abuse

ekson,guh,texchem,wzsatu,butaland,muib all also post losses....hahaha


calvintaneng
37041 posts

Posted by calvintaneng > Jul 1, 2020 12:24 AM | Report Abuse

Rm2.57 millions profit is fishy accounting

In the qtr report

Rm5.9 millions gain from foreign exchange
Where got money except to include Meena receivables ? This is like book cooking

If not for this Zelan this quarter will suffer a loss

Its debt of Rm500 millions incur an interest payment of Rm9 millions

Better wake up before too late

Sell and buy Wtk or Wzsatu to recover from losses


calvintaneng
37041 posts

Posted by calvintaneng > Jul 1, 2020 12:26 AM | Report Abuse

This fishy accounting is just like fishy and slippery Mikecyc aka hiding behind fake id johnchew5


apolloang
16286 posts

Posted by apolloang > Jul 1, 2020 12:26 AM | Report Abuse

another I forgot opcon…..hahaha


longvalley
1867 posts

Posted by longvalley > Jul 2, 2020 7:58 AM | Report Abuse

.....hopefully not just waiting the meena appeal

Lets see together.....!


calvintaneng
37041 posts

Posted by calvintaneng > Jul 4, 2020 9:02 PM | Report Abuse

For Zelan everyday is a day nearer to insolvency

And every week is another week nearer to bankruptcy

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