Delist????
Why???
Anyways: Look on it equity aspects, its still quite healthy.
.....3. EQUITY
Share Capital RM 84,495,000 _ , Q2 2024 @ RM 84,495,000
Reserves / accumulated profit RM 65,986,000 _ , Q2 2024 @ RM 76,024,000
Shareholders’s equity RM 150,481,000 _ , Q2 2024 @ RM 160,519,000
Non-Controlling Interest (RM 331,000) _ , Q2 2024 @ (RM 331,000)
TOTAL EQUITY RM 150,150,000 _ , Q2 2024 @ RM 160,188,000

The company's problem: Has a capital deficiency around RM100 mil.

Prospects: The Group is actively addressing the ongoing PN17 issues and is currently looking into and developing a proposed regularisation plan to improve its financial conditions and performance.
I think if the recovery of the awarded sum of RM 252.8 million successfully done, the problem of PN17 will be solved.

Unperformed one???

On behalf of the Company, Kenanga Investment Bank Berhad wishes to announce that Bursa Securities had, via its letter dated 15 November 2024, resolved to grant the Company a further extension of time of 6 months up to 30 April 2025 to submit its regularisation plan to the relevant regulatory authorities for approval.

Base on my BRIEF study on the QR3 2024 of Zelan:

(Note: A comparative figures from QR2 2024 included)

Summary:

The company

A: Revenue, profitability and NTA.

Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
13,679K (20,029K) (21,437K) -2.54sen 18sen Down 2413% Down 16648%

B: Sitting on reducing positive reserve of RM 65,986,000.

C: Recorded a big net loss after recorded profit for FIVE quarters of the last SIX latest quarters.

D: Not a cash rich company.

E: Total assets > Total liabilities, Total current assets > Total current liabilities,

F: In the process of settling the PN17 issues.

The Group is actively addressing the ongoing PN17 issues and is currently looking into and developing a proposed regularisation plan to improve its financial conditions and performance. To assist with this, the Group has engaged an advisor to give professional advice and assistance during its restructuring initiatives.

On 25 October 2024, the Group submitted a further extension of time application to Bursa Securities for nine (9) months i.e up to 31 July 2025 to submit the Group’s Regularisation Plan to Bursa Securities. This request is contingent upon the resolution of key legal matters that impact the Group's financial position and ongoing negotiations with potential investors.


THE FINDINGS:

1. NTA 18 sen _ , Q2 2024 @ 19 sen
2. NOSH 844.92 mil _ , Q2 2024 @ 844.92 mil.

3. EQUITY
Share Capital RM 84,495,000 _ , Q2 2024 @ RM 84,495,000
Reserves / accumulated profit RM 65,986,000 _ , Q2 2024 @ RM 76,024,000
Shareholders’s equity RM 150,481,000 _ , Q2 2024 @ RM 160,519,000
Non-Controlling Interest (RM 331,000) _ , Q2 2024 @ (RM 331,000)
TOTAL EQUITY RM 150,150,000 _ , Q2 2024 @ RM 160,188,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 2,810,000 _ , Q2 2024 @ RM 2,923,000

5. Assets:
Non-current Assets RM 405,002,000 _ , Q2 2024 @ RM 421,665,000
Current Assets RM 308,033,000 _ , Q2 2024 @ RM 331,461,000
TOTAL ASSETS RM 713,035,000 _ , Q2 2024 @ RM 753,126,000

6. Liabilities:
Non-current liabilities RM 364,940,000 _ , Q2 2024 @ RM 380,682,000
Current Liabilities RM 197,945,000 _ , Q2 2024 @ RM 212,256,000
TOTAL LIABILITIES RM 562,888,000 _ , Q2 2024 @ RM 592,938,000

7. QR3 2024 results :
- Revenue RM 13,679,000 _ , Q2 2024 @ RM 11,651,000
- Gross profit RM 5,565,000 _ , Q2 2024 @ RM 5,628,000
- Profit before tax (RM 20,029,000) _ , Q2 2024 @ RM 1,698,000
- Net profit / (Net loss) (RM 21,437,000) _ , Q2 2024 @ RM 927,000


Note 1

The Group reported a loss before zakat and taxation (“LBZT”) of RM20.0 million in the current quarter under review compared to a profit before zakat and taxation (“PBZT’) of RM0.3 million in the corresponding quarter of FY2023.

The decrease in PBZT is mainly due to the unrealised foreign exchange translation loss of RM22.2 million as compared to the unrealised foreign exchange translation loss of RM0.2 million in the same quarter of FY2023.

(b) Trade receivables
The efforts towards the recovery of the awarded sum of RM 252.8 million continue. The Group is actively pursuing recovery action and collaborating with solicitors. Recent developments indicate that diplomatic channels have been engaged to expedite this recovery.

(a) Practice Note 17 (“PN 17”)
On 2 May 2024, Bursa Securities granted an extension of time of six (6) months up to 31 October 2024 to submit its regularisation plan to the relevant regulatory authorities. On 25 October 2024, Kenanga Investment Bank Berhad submitted, on behalf of Zelan Berhad, an application for a second extension of time for 9 months, until 31 July 2025, to allow for the formulation of the Proposed Regularisation Plan. This request is contingent upon the resolution of key legal matters that impact the Company's financial position and ongoing negotiations with potential investors.

If not, they have to pick other fund raising exercises such as RI or ESOS in order to solve a capital deficiency of RM100 mil. TAYOR

--- (b) Trade receivables

The efforts towards the recovery of the awarded sum of RM252.8 million are still ongoing. The Group is still pursuing the recovery action and working closely with the solicitors and other relevant authorities both in Abu Dhabi, United Arab Emirates and Malaysia to assist on the recovery of the awarded sum.
---------
Are they delaying for this reason????
Buy for more time... in order to make this recovery action successfull.
I think if this recovery action can successfully done, the problem will be solved.

On behalf of the Company, Kenanga Investment Bank Berhad wishes to announce that an application for a further extension of time of 9 months up to 31 July 2025 to submit a regularisation plan to Bursa Securities has been submitted to Bursa Securities on 25 October 2024.

No good news... Means a bad news???

Have no idea.... Anyone. Any news???

PETALING JAYA: PN-17 company Zelan Bhd has appointed Mohd Ariff Abd Samat, 42, as its chief executive officer (CEO), after terminating the contract of its previous CEO, Hazimi Baharum, in June last year.

In a filing with Bursa Malaysia, Zelan said Mohd Ariff was group chief operating officer at Sarawak Consolidated Industries Bhd until July 2023, prior to joining Zelan.

“Mohd Ariff has over 18 years in key positions of internal audit, accounts and reporting and business planning and budgeting in the oil and energy industry during his tenure with PETRONAS, UMW Corp Sdn Bhd, Boustead Petroleum Marketing Sdn Bhd and KPMG Malaysia.”

Zelan was categorised as a PN17 company in May last year after its external auditor Nexia SSY PLT expressed a disclaimer of opinion on its audited financial statements for the financial year ended Dec 31, 2022.
-------------
Note:
With the extension of time granted by Bursa Securities until 31 October 2024, the Company has approximately one month to submit its regularisation plan to Bursa Securities for approval to implement the same.

### Hoping for a good news from the management/insiders. TAYOR

As at 2 April 2024, MMC Corp is a single substantial shareholder @ Zelan:

MMC CORPORATION BERHAD with 331,580,079 shareholding (39.244 %)

With the extension of time granted by Bursa Securities until 31 October 2024, the Company has approximately two (2) months to submit its regularisation plan to Bursa Securities for approval to implement the same.



The Company will make the necessary announcement(s) regarding the development of the proposed regularisation plan accordingly.

Note 1:

For the current quarter and year-to-date ended 30 June 2024, the Group reported a revenue of RM0.73 million and RM54.79 million respectively. Among these RM54.31 million, 99.13% was generated by the Hong Kong subsidiary, which primarily engages in the sales of watches. Malaysia operation which focusing on electronics & system integration operation, contributed RM0.11 million for the current quarter and RM0.48 million for year-to-date ended 30.6.2024.

For the current quarter and year-to-date ended 30.6.2024, the Group recorded a profit before tax of RM1.03 million and a loss before tax of RM3.98 million, respectively. The lower losses for the year ended 30 June 2024 primarily due to unrealised gain from foreign currency translation amounting to RM 4.62 million. On the other hand, the increased operating expenses resulting from accounting adjustment, particularly the recognition of impairment loss on receivables of RM2.09 million, finance cost amounting to RM1.30 million mainly from third parties borrowing, share of loss of an associates of RM0.77 million, have further increase the overall loss impact on the Group's financial performance. In addition, the recent increase in the cost of sales and decrease in revenue from watches segment contributed lesser profit to the Group.

Note 2:
The Group posted a revenue of RM0.73 million as compared to RM16.88 million in the preceding quarter, a decrease of RM16.15 million.The main reason for the lower revenue recorded in the fourth quarter primarily due to slowdown of sales from watch operation. The Group recorded a proft before tax of RM1.03 million compared to loss before tax of RM2.16 million in the preceding quarter mainly due to unrealised gain from foreign translation amounting to RM6.77 million recognised n this quarter. However, the reported profit before tax was reduced as there is share of loss from an associate of RM0.93 million for the current quarter as compared to share of profit of associate of RM0.01 million in preceding quarter, impairment loss on receivables amounting to RM2.09 million provided in the current quarter. In addition, The Group recorded a gross loss from selling watches of RM0.46 million as compared to gross profit of RM0.47 million in the preceding quarter. The gross loss was mainly due to increase in cost of sales and decrease inrevenue as a result of the Customer's response to the prevailing economic downturn.

Note: Prospects
The Group will continue to focus on consolidating its existing business to stregthen its presence in the watches industry and improve sales performance of watches trading segment. The Group may strategically decided to invest more in attracting customers such as offering discounts, running promotional campaigns or increaasing marketing efforts to draw in customers who are willing to spend due to economic uncertaintie. The Group is also planning to set-up sales gallery of watches in Malaysia, at the same time to improve its e-commerce platform to deliver better user experience and increase customer satisfaction.
The Group intends to penetrate into new markets by establishing Halal Food & Beverage restaurants and Halal Convenience Stores in Hong Kong. Addtionally, the Group has entered into a Project Management Contract to serve as the Project Management Company for the proposed development of hotel and golf course in Pulau Langkawi. The Board believes that these business will generate positive cash flow for the Group and contribute to enhancing shareholders' value.

Base on my BRIEF study on the QR4 2024 (The latesr QR) of Itronic:

(Note: A comparative figures from QR3 2024 included)

A: Revenue, profitability and NTA.
Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
726K 1,025K 1,037K 0.15sen 4 sen Up 148% Down 67%

B: Sitting on negative reserve of (RM 13,745,834).

C: Not a cash rich company.

D: Total assets > Total liabilities, Total current assets > Total current liabilities, and has a small non-current liabilities only @ RM 1,079,464.

E: Revenue down tremendously from the last quarter.


THE FINDINGS:

1. NTA 4 sen _ , QR3 2024 @ 5 sen.
2. NOSH 707.59 mil. _ , QR3 2024 @ 707.59 mil.

3. EQUITY
Share Capital RM 43,472,963 _ , QR3 2024 @ RM 43,472,963
Reserves / (accumulated losses) (RM 13,745,834) _ , QR3 2024 @ (RM 8,046,278)
Shareholders' funds RM 29,727,129 _ , QR3 2024 @ RM 35,426,685
Non-Controlling Interest RM 0 _ , QR3 2024 @ RM 0
TOTAL EQUITY RM 29,727,129 _ , QR3 2024 @ RM 35,426,685

4. Cash and Cash Equivalent:
Cash and bank balances RM 80,910 _ , QR3 2024 @ RM 4 ,517

5. Assets:
Current Assets RM 64,012,057 _ , QR3 2024 @ RM 74,109,474
Non-current Assets RM 9,264,729 _ , QR3 2024 @ RM 15,224,293
Assets held for slae RM 5,009,425 _ , QR3 2024 @ RM 0.00
TOTAL ASSETS RM 78,286,211_ , QR3 2024 @ RM 89,333,767

6. Liabilities:
Current Liabilities RM 47,479,618 _ , QR3 2024 @ RM 52,818,075
Non-current liabilities RM 1,079,464 _ , QR3 2024 @ RM 1,089,007
TOTAL LIABILITIES RM 48,559,082 _ , QR3 2024 @ RM 53,907,082

7. QR4 2024 results - Revenue RM 725,737 _ , QR3 2024 @ RM 16,881,800
- Gross profit / (loss) (RM 446,643) _ , QR3 2024 @ (RM 485,678)
- Net profit/(Net loss) RM 1,036,656 _ , QR3 2024 @ (RM 2,161,615)

Base on my BRIEF study on QR2 2024 (The latest QR) of LKL:

(Note: A comparative info from QR1 2024 included)


The summary on the company from QR1 2024:

A: Revenue, profitability and NTA.
Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
9,716K (2,243K) (-2,3891K) (0.62sen) 0.42sen UP 67% UP 9%

B. Still sitting on a negative reserve.

C: A cash rich company with a RM 25,229,000 cash and cash equivalent.

D. Total assets > Total liabilities (Reduced total liabilities).
Total current assets > Total current liabilities: Means still has a low indebtedness risk.


THE FINDINGS

1. NTA 42.0 sen _ , QR1 2024 @ 42.0 sen
2. NOSH 388.06 mil _ , QR1 2024 @ 388.06m

3. EQUITY
Share capital RM 240,262,000 _ , QR1 2024 @ RM240,262,000
Merger deficit (RM 29,580,000) _ , QR1 2024 @ (RM29,580,000)
Accumulated losses (RM 48,642,000) _ , QR1 2024 @ accumulated losses of (RM 46,253,000 )
Equity attributable to owners of the Company RM 162,040,000 _ , QR1 2024 @ RM 164,429,000
Non-controlling interests ( RM 623,000) _ , QR1 2024 @ (RM 633,000)
TOTAL EQUITY RM 161,417,000 _ , QR1 2024 @ RM 163,796,000

4. Cash and cash equivalent:
Fixed deposit with licensed bank RM 20,681,000 _ , QR1 2024 @ RM 20,534,000
Cash and bank balances RM 4,548,000 _ , QR1 2024 @ RM 4,480,000

5. Assets:
Non-current Assets RM 124,398,000 _ , QR1 2024 @ RM 122,855,000
Current Assets RM 67,277,000 _ , QR1 2024 @ RM 69,041,000
Assets included in disposal
group classified as held for sale RM 0 ¬_ , QR1 2024 @ RM 5,913,000
TOTAL ASSETS RM 191,675,000 _ , QR1 2024 @ RM 197,809,000

6. Liabilities:
Current Liabilities RM 22,041,000 _ , QR1 2024 @ RM 25,583,000
Non-current liabilities RM 8,217,000 _ , QR1 2024 @ RM 8,430,000
TOTAL LIABILITIES RM 30,258,000 _ , QR4 2023 @ RM 42,805,000

7. QR2 2024 Results

Revenue RM 9,716,000 _ , QR1 2024 @ RM 9,585,000

Profit before tax / (Loss) (RM 2,243,000) _ , QR1 2024 @ ( RM 7,227,000)

Net profit / (Net loss) (RM 2,389,000) _ , QR1 2024 @ ( RM 7,232,000 )


Note 1:

Revenue for the current quarter increased by RM 0.131 million or 1.37% as compared to the preceding quarter (Q1FY24) mainly due to the due to increased sales of medical peripherals in the current quarter.

The Group registered a loss before tax of RM2.243 million in the current financial quarter as compared to a loss before tax of RM7.227 million in Q1 2024 mainly due to a higher fair value loss of RM 5.224 million recorded in the
previous quarter.

Note 2: Prospects

Despite all the challenges and difficulties faced by the Group, we are committed to ensuring the Group’s long-term growth by continuously exploring and pursuing available opportunities that are prospective in increasing shareholders’ value. Looking ahead, the Group strives to improve the sales volume by expanding and offering a wider variety of medical devices to our customers.

The Group continues to leverage its long-term strategic relationships with the existing and potential business associates and partners that would improve the business process efficiency and cost-effectiveness. The Group also continues to pursue progress in its joint venture arrangements to meet its objectives.

Broadening our distributorship scope, we believe the existing engagement with SECA and MEDITOP’s products enables us to further introduce more medical devices to the market. We strive to build a more resilient organisation, upholding operational efficiencies and sustainable initiatives to navigate through business challenges, thereby reinforcing our position as a reliable, one-stop solutions provider to the medical and healthcare industry.

._______.

Base on my BRIEF study on the QR2 2024 (The latest QR) of Wegmans:

(Note: A comparative figures from QR1 2024 included)


A: Revenue, profitability and NTA.

Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
22,223K 2,206K 1,553K 0.28sen 24sen Down 63% Down 57%

B: Sitting on positive reserve / Retained profits of RM85,299,000. It means, the company is a profitable company.

C: Has a moderate cash and cash equivalents of RM 18,387,000.

D. Total assets > Total liabilities, Total current assets > Total current liabilities, and its total current liabilities below 50% of its current assets – Means has a low indebtedness risk.

E. Dividend for shareholders – Dividend of 0.5 sen per ordinary share in respect of the financial year ended 31 December 2023.


THE FINDINGS:

1. NTA 24 sen _ , QR1 2024 @ 24 sen.
2. NOSH 550.54 mil _ , QR1 2024 @ 550.54 mil.

3. EQUITY
Share Capital RM 68,155,000 _ , QR1 2024 @ RM 68,155,000
Treasury shares (RM 94,000) _ , QR1 2024 @ (RM 94,000)
Merger defisit (RM 22,100,000) _ , QR1 2024 @ (RM 22,100,000)
Retained profits RM 85,299,000 _ , QR1 2024 @ RM 83,746,000
Equity Attributable To Owners Of The Company RM 129,707,000 _ , QR1 2024 - RM 128,206,000
Non-Controlling Interest RM 1,621,000 _ , QR1 2024 @ (RM 1,575,000)
TOTAL EQUITY RM 132,881,000 _ , QR1 2024 @ RM 131,282,000

4. Cash and Cash Equivalent:
Deposits, bank and cash balances RM 18,387,000 _ , QR1 2024 @ RM RM18,243,000

5. Assets:
Current Assets RM 69,307,000 _ , QR1 2024 @ RM 70,774,000
Non-current Assets RM 113,923 _ , QR1 2024 @ RM 115,238,000
TOTAL ASSETS RM 183,230 _ , QR1 2024 @ RM 186,012,000

6. Liabilities:
Current Liabilities RM 21,879,000 _ , QR1 2024 @ RM 24,555,000
Non-current liabilities RM 28,470,000 _ , QR1 2024 @ RM 30,175,000
TOTAL LIABILITIES RM 50,349,000 _ , QR1 2024 @ RM 54,730,000

7. QR2 2024 results
- Revenue RM 22,223,000 _ , QR1 2024 @ RM 34,700,000
- Profit before tax /(loss) RM 2,206,000 _ , QR1 2024 @ RM 5,572,000
- Net profit/ (Net loss) RM 1,553,000 _ , QR1 2024 @ RM 4,282,000


Note 1:

For the current financial quarter ended 30 June 2024, the Group’s revenue has decreased by RM12.48 million or 35.96% to approximately RM22.22 million as compared to approximately RM34.70 million in the preceding financial quarter ended 31 March 2024. The lower revenue was mainly attributed to the lower sales volume from North and South America.

The Group registered a profit before tax of approximately RM2.21 million for the current financial quarter ended 30 June 2024 as compared to a profit before tax of approximately RM5.57 million for the preceding financial quarter ended 31 March 2024. The lower profit before tax was mainly due to the lower revenue generated.


Note 2: Prospects

The Group confronts global economic uncertainties, increased production costs, and foreign currency fluctuations. However, the strengthening of United States Dollar (“USD”) against Ringgit Malaysia is expected to offset the negative impacts as majority of the Group's revenue are denominated in USD.

Despite the challenging global economic outlook, the Board will regularly review the performance and progress of the Group’s operations and financial performance as well as introduce measures to minimise our operating costs.

The Board expects that the Group’s operations for the financial year ending 31 December 2024 to remain profitable amidst a challenging business environment.

The old ponda.man OKU_2020 is continously in partying.... Goyang , goyang sampai keluar angin... He He He.

My plan, will look @ the incoming QR3 2024...
Will make decision based on the qr results - whether to keep investing or fully out from this counter. TAYOR

Section 205 of CMSA – Manipulation of Price of Derivatives and Cornering
No person shall, directly or indirectly manipulate or attempt to manipulate the price of derivatives that may be dealt in on a derivatives market, or of any underlying instrument which is the subject of such derivatives or corner, or attempt to corner, any underlying instrument which is the subject of a derivative.

Illustration 10 - Scalping
The person trading is also responsible for giving buy or sell recommendations, e.g. purchases a security before recommending the security, and then sells the security at a profit upon the rise in the market price following the recommendation.

@one_trader...
----
SC turut memberi amaran kepada pengendali webinar, seminar, media sosial dalam talian, dan bilik sembang aplikasi pesanan yang lain agar berhenti menjalankan aktiviti nasihat pelaburan tanpa lesen. SC memantau rapi perkara ini dan, sekiranya wajar, akan mengambil tindakan terhadap mereka yang melanggar undang-undang sekuriti.

Orang ramai juga diminta agar melaporkan kepada SC sekiranya mereka telah dihubungi oleh individu tidak berlesen yang menawarkan nasihat pelaburan modal di Aduan@seccom.com.my atau hubungi talian + 603-6204 8999.

@one_trader. Do not play-play like this if your info is not correct....

Anyways, when the dark clouds settle...
I am expecting for the next cycle of GORENG for Kanger......
For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done.
TAYOR

Dear OKU_2020. Enough is enough... The old ponda.man is getting vibrated.... Goyang , goyang sampai keluar angin... He He He..
-------
Anyways....

@OKU_2020. Cut loss half...
Have a plan to buy it back @ lower price.

Anyways, when the dark clouds settle...
I am expecting for the next cycle of GORENG for Kanger......
For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done.
TAYOR

6 days ago
--------
As I said, their integrity is in doubt!!!!!
My plan, will look @ the incoming QR3 2024...
Will make decision based on the qr results - whether to keep investing or fully out from this counter. TAYOR

3 days ago

Thanks @BoonBoon69...

My plan: keep monitoring...
Try to accumulate some shares @ the lowest price which I can get. TAYOR

If we have any concrete evidences, we can report those illegal acts....

Actually, insiders or any person with insiders information can have details of any illegal acts done by company's management...
We minority shareholder have limited information. It's only from what we get from the announcements by the company....

They have the power in the board and also have the power in sort of voting power in AGM or EGM....
All of their decisions and tai chi acts will be legalised!!!!!

As per what has been done @ Nexgram....

Management will do it according to the law and procedures...
But, their integrity which is in doubt is refering to management efficiency and management accountability to the company's minority shareholders... TAYOR

As I said, their integrity is in doubt!!!!!
My plan, will look @ the incoming QR3 2024...
Will make decision based on the qr results - whether to keep investing or fully out from this counter. TAYOR

integrity in doubt.... TAYOR...

Another Nexgram No. 2 in the making???

Full of Tai chi acts, this management of Kanger!!!!!

MZM2511

It must be good if there is any new substantial shareholder could emerge.... Just a hope..

1 month ago

--------------------

DATO' LEONG SIR LEY, a substantial shareholder of Yong Tai's appointed as an Itronic director....

Expect something can be happened here.... TAYOR

@OKU_2020. Cut loss half...
Have a plan to buy it back @ lower price.

Anyways, when the dark clouds settle...
I am expecting for the next cycle of GORENG for Kanger......
For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done.
TAYOR

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD

DATUK CHU BOON TIONG Executive Director
No of Securities Held 1,926,360
------------
Towards incoming QR4 2024 @ the end of August.....

This director want to acquire or want to sell his shares?????
He has just a few shares left, is it possible for him to SELL all his shareholding???
By the way, he is an EXECUTIVE DIRECTOR of this company...

Already don't know what to expect.... Hope for the best... TAYOR

On behalf of the Board, UOBKH wishes to announce that it had, on 30 July 2024, submitted the application to Bursa Securities to seek its approval for an extension of time for the Company to implement and complete the Private Placement.
---------
Have to wait @ a longer time for the next cycle of GORENG for Kanger to be started???

ANEKA QR3 2024 RESULT:

(Note: A comparative info from QR2 2024 included)

1. NTA 13.17 sen _ , QR2 2024 @ 13.14 sen
2. NOSH 659.056 mil_ , QR2 2024 @ 652.6 mil.

3. EQUITY
Share capital RM 143,892.000 _ , QR2 2024 @ RM 143,032,000
Reorganisation reserve (RM76,342,000) _ , QR2 2024 @ (RM76,342,000)
Exchange reserve RM327,000_ , QR2 2024 @ RM88,000
Retained earnings RM19,557,000 _ , QR2 2024 @ RM18,997,000
Shareholders’ fund RM86,780,000_ , QR2 2024 @ RM85,772,000
Non-controlling interests RM 7,535,000_ , QR2 2024 @ RM 7,840,000
TOTAL EQUITY RM94,315,000_ , QR2 2024 @ RM93,612,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 18,022,000_ , QR2 2024 @ RM 12,703,000

5. Assets:
Non-current Assets RM 68,958,000_ , QR2 2024 @ RM 70,786,000
Current Assets RM 148,166,000_ , QR2 2024 @ RM 175,078,000
TOTAL ASSETS RM 217,124,000_ , QR2 2024 @ RM 245,864,000

6. Liabilities:
Non-current liabilities RM 15,394,000_ , QR2 2024 @ RM 15,978,000
Current Liabilities RM 107,415,0000_ , QR2 2024 @ RM 136,274,0000
TOTAL LIABILITIES RM 122,809,000_ , QR2 2024 @ RM 152,252,000

7. QR3 result:
Revenue RM41,846,000 _ , QR2 2024 @ RM 54,218,000

Gross profit RM 4,362,000_ , QR2 2024 @ RM 4,715,000

Profit / (loss) before tax RM 745,000_ , QR2 2024 @ RM 787,000

Net profit RM 562,000_ , QR2 2024 @ RM 121,000


Note 1:

In 3Q24, the Group recorded RM41.85 million in revenue, marking a slight increase of RM0.60 million compared to the preceding year's quarter ended 31 May 2023 (3Q23), when the Group recorded revenue of RM41.25 million. The Group’s gross profit rose by RM2.84 million, reaching RM4.36 million, compared to the gross profit of RM1.52 million in 3Q23.

The Group had generated other income of RM0.96 million in 3Q24. This amount included a gain on sale of machinery of RM0.85 million, with the balance arising from interest income and rental of premises. Additionally, the Group had incurred total administrative expenses of RM3.53 million.

The Group also incurred financing costs of RM1.05 million in 3Q24. On the other hand, total tax expenses amounted to RM0.20 million.

Lastly, the Group achieved a profit after tax of RM0.55 million for the current quarter, an improvement of RM3.41 million compared to the loss after tax of RM2.86 million incurred in 3Q23.

Note 2:

For 3Q24, the Group’s revenue decreased by RM12.37 million, from RM54.22 million in the immediate preceding quarter ended 29 February 2024 (2Q24) to RM41.85 million. The Group’s gross profit also saw a slight decline, reaching RM4.36 million in 3Q24, compared to RM4.72 million in 2Q24. The Group achieved a profit before tax and profit after tax of RM0.75 million and RM0.55 million respectively, marking a slight reduction compared to the profit before tax and profit after tax of RM0.79 million and RM0.55 million in 2Q24.

Note 3: Prospects

As at 31 May 2024, the Group’s total order book stood at RM231.38 million. This order book is further strengthened by the recent contracts awarded totalling RM65.88 million secured after 31 May 2024. The Group aims to maintain this momentum and will remain steadfast in securing new projects to replenish its order book and improve revenue visibility.
However, the Group is also cautious of the impact of the recent removal of Malaysia’s diesel subsidy on the prices of construction materials. Management will monitor and manage its impact accordingly.

Base on my BRIEF study on QR3 2024 of ANEKA:

A: The company recorded a slight increased net profit for the current QR3 2024, compared to QR2 2024.

B. Recorded Net Profit (TTM) amounting RM2.55 milion, EPS (TTM) 0.38 sen;

C. Recorded FOUR quarters consecutively with profit.

D. Still sitting on accumulated profit.

E: Project oderbook is sufficient for the continuing operations and generating revenue for short term.

Thanks @KylieTan for reminding me about the incoming QR3 2024 that we are waiting for at the end of this month. It's not QR2 2024. He He He...

Base on my BRIEF study on QR2 2024 of ANEKA:

A: The company recorded a reduced net profit for the current QR compared to QR1 2024. Recorded three quarters consecutively with profit.

B. Still sitting on accumulated profit.

B: Project oderbook is sufficient for the continuing operations and generating revenue for short term.


THE FINDING:

1. NTA 13.14 sen
2. NOSH 652.6 mil.

3. EQUITY
Share capital RM143,032,000
Reorganisation reserve (RM76,342,000)
Exchange reserve RM88,000
Retained earnings RM18,997,000 – (Still sitting on accumulated profit)
Shareholders’ fund RM85,772,000
Non-controlling interests RM7,840,000
TOTAL EQUITY RM93,612,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 12,703,000

5. Assets:
Non-current Assets RM 70,786,000
Current Assets RM 175,078,000
TOTAL ASSETS RM 245,864,000

6. Liabilities:
Non-current liabilities RM 15,978,000
Current Liabilities RM 136,274,0000
TOTAL LIABILITIES RM 152,252,000

7. QR2 result:
Revenue RM 54,218,000
Gross profit RM 4,715,000
Profit / (loss) before tax RM 787,000
Net profit RM 121,000

Note 1:
In 2Q24, the Group generated revenue of RM54.22 million, representing an increase of RM11.24 million compared to the preceding year's quarter ended 28 February 2023 (2Q23), during which the Group registered revenue of RM42.98 million. The Group saw its gross profit improve by RM4.32 million, achieving a gross profit of RM4.72 million compared to the gross profit of RM0.40 million in 2Q23.
Additionally, the Group generated other income of RM0.33 million in 2Q24. This amount comprised a debt recovery totalling RM0.22 million, with the remainder derived from interest income and rental of premises. The Group incurred total administrative expenses of RM3.32 million.
Regarding financing costs, the Group incurred a total of RM0.94 million in 2Q24. The Group's total tax expenses stood at RM0.24 million, solely incurred by the Group's Indonesian subsidiary, PT Aneka Jaringan Indonesia (PTAJI).
Finally, the Group generated a profit after tax of RM0.55 million for the current quarter, marking an improvement compared to the loss after tax of RM4.36 million incurred in 2Q23.

Note 2:

For 2Q24, the Group experienced a reduction in revenue of RM4.56 million, decreasing from RM58.78 million in the immediate preceding quarter ended 30 November 2023 (1Q24) to RM54.22 million. However, the Group achieved a gross profit of RM4.72 million, marking an increase of RM1.66 million compared to the gross profit of RM3.05 million in 1Q24. However, the Group's profit before tax and profit after tax decreased by RM0.74 million and RM0.84 million to RM0.79 million and RM0.55 million, respectively, in 2Q24.

Note 3: Prospects

For our construction operations, we will continue to leverage our existing order book of RM233.16 million as at 29 February 2024 and focus on the timely completion of ongoing projects.
PT. Aneka Jaringan Energy (PTAJE), our renewable energy subsidiary in Indonesia had in 2Q24, secured its first engineering, procurement, construction, and commissioning (EPCC) project of RM0.48 million in value. We remain optimistic on the subsidiary’s prospects and will continue to tender for EPCC jobs to secure its foothold in Indonesia.

(b) Trade receivables



The efforts towards the recovery of the awarded sum of RM252.8 million are still ongoing. The Group is still pursuing the recovery action and working closely with the solicitors in Abu Dhabi, United Arab Emirates to recover the awarded sum.

Source: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3460497

Even the worst BPuri still surviving and kicking... He He

3. EQUITY
Share Capital RM 433,234,000
Reserves / (accumulated losses) (RM 206,530,000)
Shareholders’s equity RM 226,704,000
Non-Controlling Interest RM 0
TOTAL EQUITY RM 226,704,000
---------
Mid-term still safe... Has rooms for improvement... TAYOR

It must be good if there is any new substantial shareholder could emerge.... Just a hope..

Personally, I think my targetd timeframe is before 31 Oct 2024. Tayor

Have to be a midterm bilis investor here.....
Be patience for those who can... He He He

I am glad to digest this reports. Tayor.

......On 2 May 2024, Bursa Securities granted an extension of time of six (6) months up to 31 October 2024 to submit its regularisation plan to the relevant regulatory authorities. The Group is in the process of formulating the Proposed Regularisation Plan for submission.

----The Group is in the midst of evaluating and formulating its proposed regularisation plan to streamline its financial conditions and improve the Group’s performance.

Current situation in Itronic. Not so good situation, I think...

No more substantial shareholders in the company.
and
Directors who manage the company without holding any substantial share shareholding.