Posted by MarioBros > 2024-03-05 21:59 | Report Abuse

Still on audit. I think it just a matter of time they announce good news.

Posted by hohlaiyet88 > 2024-03-14 09:57 | Report Abuse

May be good news soon for remove out from PN17

Posted by Lai Peng Chin > 2024-03-14 10:28 | Report Abuse

It's financial year ended with net profit 65.6 millions, 17722.5% increased. Surely can get out PN17.

Posted by LY Hoh > 2024-03-14 14:19 | Report Abuse

👍👍👍

Posted by Bull13 > 2024-03-15 09:32 | Report Abuse

Read the latest announcement on 29/2.
Zelan have a incoming receivable of RM241.76 followiing a court award overseas!!
This should pput Zelan in a good position to exit pn17 and their participation in the upcoming HSR Project .

Posted by MarioBros > 2024-03-15 10:15 | Report Abuse

Bull13, if you see their regulation plan to exit, all are already done and just wait for audit to complete. This month is the month they will exit. Hopefully, got contract and it will fly

Posted by Bull13 > 2024-03-15 11:23 | Report Abuse

Yes. MarioBros. Everything is already in place to exit pn17. Could be tomorrow or next week ?

Posted by RX350 > 2024-03-15 22:17 | Report Abuse

😍

Posted by Bull13 > 2024-03-16 13:13 | Report Abuse

And Zelan is Syed Mohktar's construction arm.

Posted by Bull13 > 2024-03-17 13:28 | Report Abuse

Read the latest announcement on 29/2.
Zelan have a incoming receivable of RM 241.76 M followiing a court award overseas!!
This should pput Zelan in a good position to exit pn17 and their participation in the upcoming HSR Project .

Posted by koyokui > 2024-03-17 19:15 | Report Abuse

Buy insyaallah out of pn17

Posted by MZM2511 > 2024-03-22 22:40 | Report Abuse

Yes... Bought in some..

Posted by RTA09391 > 2024-03-25 08:47 | Report Abuse

Local & Institutional investors will buy this counter when its touch RM0.50, typical Malaysian investor buy high sell low

Posted by LY Hoh > 2024-04-11 14:51 | Report Abuse

Touch RM0.50 very difficult? If can go for RM0.20 already Thanks God lor😁😁😁

Posted by MZM2511 > 2024-04-11 18:34 | Report Abuse

Resolve the PN17 issue, and I think it could be pushed to the higher price...

Posted by speakup > 2024-04-17 07:44 | Report Abuse

https://says.com/my/seismik/tiga-tokoh-korporat-melayu-tersenarai-dalam-orang-paling-kaya-forbes-malaysia-2024

Posted by LY Hoh > 2024-04-30 09:27 | Report Abuse

Anyone know the status of PN17? It will possible make announcement on coming meeting 11/6/2024?

Posted by MZM2511 > 2024-04-30 20:12 | Report Abuse

On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad had on 29 March 2024 submitted an application for an extension of time to submit a regularisation plan to Bursa Securities (“EOT Application”).
The EOT Application is currently pending decision from Bursa Securities.
-----------

I think have to wait for a couple of times...

Posted by birkincollector > 2024-05-02 09:05 | Report Abuse

trading halted.....hmmm

Posted by LY Hoh > 2024-05-02 09:30 | Report Abuse

It any good news for this halted? Out from PN17?

Posted by LY Hoh > 2024-05-08 10:39 | Report Abuse

Any news for this counter? Price almost between 0.06 to 0.065…..

Posted by MZM2511 > 2024-05-20 23:30 | Report Abuse

Peram dulu. Holding it tightly. Add more if the price drop to 5 sen and below.

Posted by LY Hoh > 2024-05-22 15:32 | Report Abuse

I continue added when it 0.055 to average down. I keyed 0.05 long time cannot match. Just paid another 0.005 lor. I kept this share long long time already.

Posted by MZM2511 > 2024-05-22 20:36 | Report Abuse

@LY Hoh. Yes. Agree. Especially for those who want to play for midterm investment.
I'm a newcomer here. Bought some @6 and 6.5 sen.

Posted by MZM2511 > 2024-05-24 20:22 | Report Abuse

The incoming QR1 2024 at the end of this month... Hope will see a good results...

Posted by MZM2511 > 2024-05-29 21:22 | Report Abuse

Base on my BRIEF study on the QR1 2024 of Zelan:

Summary:

The company

A: Sitting on positive reserve of RM70,837,000.

B. Recorded net profit for FOUR quarter of last FIVE latest quarters.

C. Not a cash rich company.

D. Total assets > Total liabilities, Total current assets > Total current liabilities,

E. In the process of settling the PN17 issues.

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 of the opinion that the Proposed Regularisation Plan once formulated and implemented after obtaining the approval from relevant authorities, will enable the Group to generate sufficient cash flows to meet its obligations and continue sustainable and viable operations.

THE FINDINGS:

1. NTA 19 sen (up from 18 sen @ last QR4 2023.)
2. NOSH 844.92 mil.

3. EQUITY
Share Capital RM 84,495,000
Reserves / accumulated profit RM 74,252,000
Shareholders’s equity RM 158,747,000
Non-Controlling Interest (RM 331,000)
TOTAL EQUITY RM 158,416,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 3,068,000

5. Assets:
Current Assets RM 325,653,000
Non-current Assets RM 430,359,000
TOTAL ASSETS RM 756,012,000

6. Liabilities:
Current Liabilities RM 207,602,000
Non-current liabilities RM 389,994,000
TOTAL LIABILITIES RM 597,596,000

7. QR1 2024 results :
- Revenue RM 7,321,000
- Gross profit RM 4,445,000
- Net profit RM 4,070,000


Note 1

The Group’s revenue of RM7.3 million for the current quarter ended 31 March 2024 was lower than the
revenue of RM9.7 million registered in the same quarter of Financial Year (“FY’) 2023 by RM2.4 million. The lower revenue is principally due to reduced revenue from local projects.

The Group reported a profit before zakat and taxation (“PBZT”) of RM4.8 million in the current quarter under review compared to a PBZT of RM2.3 million in the corresponding quarter of FY2023. The improved performance is mainly due to lower interest expenses of RM6.2 million (Quarter 1 FY2023: RM 7.1 million) and higher unrealised foreign exchange gain of RM3.7 million (Quarter 1 FY2023 : RM 1.2 million).

Note 2

In the current quarter ended 31 March 2024, the Group reported higher revenue of RM7.3 million compared to the preceding quarter revenue of RM4.2 million. The higher revenue of RM3.1 million for the current quarter is principally due to higher revenue from local projects.

In the current quarter ended 31 March 2024, the Group reported lower profit before taxation of RM4.8 million compared to the preceding quarter profit before taxation of RM48.7 million. Included in the preceding quarter results is the reversal of accrued bank borrowings interest of RM55.1 million arising from the rescheduling agreement dated 15th December 2023.

Note: Prospects

The Group is in the process of resolving the ongoing PN17 issues. The Group is continuously looking for projects/contracts via tendering and is cautiously optimistic of the future prospects of the Group.

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.

Posted by LY Hoh > 2024-06-04 20:43 | Report Abuse

The latest QR also profit, why the shares price no any surprise?

Posted by MZM2511 > 2024-06-06 20:45 | Report Abuse

Stabilising @ 5.5 - 6.5 sen...
Be patience... The time will come...

Posted by LY Hoh > 2024-06-10 11:46 | Report Abuse

Today finally Zelan started got movement....please continue as last QR on 29th May 2024 also very good. Move out from PN17 soon....

Posted by somchik > 2024-06-19 12:23 | Report Abuse

Good footing from .065

Posted by somchik > 2024-06-19 12:23 | Report Abuse

Retaining the formation for train to north

Posted by HamsterInvestor > 2 months ago | Report Abuse

when leave pn17

Posted by LY Hoh > 2 months ago | Report Abuse

I need to know too... anyone got infor for this?

Posted by MZM2511 > 2 months ago | Report Abuse

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.

Posted by MZM2511 > 2 months ago | Report Abuse

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

Posted by LY Hoh > 2 months ago | Report Abuse

Thank you for your sharing.

Posted by tomanhead > 2 months ago | Report Abuse

Zelan have an incoming receivable of RM 241.76 M followiing a court award overseas!! What happened to the durian runtuh 😁

Posted by MZM2511 > 2 months ago | Report Abuse

(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

Posted by tomanhead > 2 months ago | Report Abuse

MZM2511 thank you 👍

Posted by MarioBros > 1 month ago | Report Abuse

Looking bad today. Gonna drop soon. Better cutloss

Posted by LY Hoh > 1 month ago | Report Abuse

Hope coming days Zelan got good news about PN17 as previous few QR majorities showed good.

Posted by MarioBros > 1 month ago | Report Abuse

LOL. Appoint ex GM of Serbadk as CEO. Wanna do serbadk or what this stock?

Posted by LY Hoh > 1 month ago | Report Abuse

The new CEO came in because of relationship " u help me then i help u" or because his outstanding performance? If capable person, from where also can. Hope came in because of capability....

Posted by MZM2511 > 3 weeks ago | Report Abuse

Base on my BRIEF study on the QR2 2024 of Zelan:

Summary:

The company

A: Revenue, profitability and NTA.

Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
11,651K 1,698K 927K 0.11sen 19sen Down 77% Down 94%

B: Sitting on positive reserve of RM 76,024,000.

C: Recorded net 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.

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 FINDINGS:

1. NTA 19 sen
2. NOSH 844.92 mil.

3. EQUITY
Share Capital RM 84,495,000
Reserves / accumulated profit RM 76,024,000
Shareholders’s equity RM 160,519,000
Non-Controlling Interest (RM 331,000)
TOTAL EQUITY RM 160,188,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 2,923,000

5. Assets:
Current Assets RM 331,461,000
Non-current Assets RM 421,665,000
TOTAL ASSETS RM 753,126,000

6. Liabilities:
Current Liabilities RM 212,256,000
Non-current liabilities RM 380,682,000
TOTAL LIABILITIES RM 592,938,000

7. QR2 2024 results :
- Revenue RM 11,651,000
- Gross profit RM 5,628,000
- Net profit RM 927,000


Note 1

The Group’s revenue of RM11.7 million for the current quarter ended 30 June 2024 was higher than the
revenue of RM8.2 million registered in the same quarter of Financial Year 2023 (“FY 2023”) by RM3.5 million. The higher revenue is mainly due to the increase in revenue from local projects.

The Group reported a PBZT of RM1.7 million in the current quarter under review compared to a PBZT of
RM17.1 million in the corresponding quarter of FY2023. The decrease in PBZT is mainly due to the unrealised foreign exchange loss of RM0.9 million as compared to the unrealised foreign exchange gain of RM9.2 million in the same quarter of FY2023. In addition, the higher PBZT in the same quarter of FY2023, was contributed by a recovery of a counterclaim against a sub-contractor amounting to RM6.9 million.

Note 2

In the current quarter ended 30 June 2024, the Group reported higher revenue of RM11.7 million compared to the preceding quarter revenue of RM7.3 million. The higher revenue of RM4.4 million for the current quarter is principally due to higher revenue from local projects.

In the current quarter ended 30 June 2024, the Group reported lower profit before taxation of RM1.7 million compared to the preceding quarter profit before taxation of RM4.8 million due to the unrealised foreign exchange loss of RM0.9 million as compared to the unrealised foreign exchange gain of RM3.7 million in the first quarter of FY2024.

Note: 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. To assist with this, the Group has engaged an advisor to give professional advice and assistance during its restructuring initiatives.

In the meantime, the Group remains cautious, committed to improve operational efficiencies and enhancing profitability. Despite these challenges, the Group remains positive about its future opportunities.

Posted by MZM2511 > 3 weeks ago | Report Abuse

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.

Posted by koyokui > 2 weeks ago | Report Abuse

Maybe out of pn17 insya allah

Posted by LY Hoh > 2 weeks ago | Report Abuse

Hopefully can come out soon as kept this share long long time

Posted by MaxGainz > 2 weeks ago | Report Abuse

Stock's been holding up well even with market ups and downs

Posted by HamsterInvestor > 2 weeks ago | Report Abuse

Rdy to move

Posted by MZM2511 > 2 weeks ago | Report Abuse

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

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