ZECON BHD
KLSE (MYR): ZECON (7028)
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Zecon gets shareholder nod for rights issue
By theedgemarkets.com | 2020-07-21 12:16:41
KUALA LUMPUR (July 21): Zecon Bhd has received approval from its shareholders for its proposed rights issue to address its current funding requirements to meet its short-term obligations and liabilities, as well as strengthen its financial position.
The Sarawak-based construction and property firm had announced on Feb 28 that it was planning to raise between RM19.4 million and RM46.1 million via a renounceable rights issue of up to 576.4 million of irredeemable convertible preference shares (ICPS) at an issue price of 8 sen each and a conversion rate of 16 sen.
Under the corporate exercise, each shareholder who already owns one Zecon share will receive four ICPS shares.
In a statement today, Zecon said its shareholders unanimously passed the resolution at the extraordinary general meeting on July 17.
Proceeds from the rights issue will be spent on working capital, to repay bank borrowings and for listing expenses.
"The rights issue of the ICPS augurs well for the company as it would further stimulate cash flow which in turn would further boost Zecon's net profit," said Zecon.
Zecon saw its net profit jump 59.7% year-on-year (y-o-y) to RM9.15 million in its third financial quarter ended March 31, 2020, mainly contributed by the Hospital Kanak-Kanak Universiti Kebangsaan Malaysia and the Pan Borneo projects.
Revenue for the quarter was up 26.9% y-o-y to RM143.1 million. For the nine-month period, the group registered a net profit of RM43.18 million compared with a net loss of RM8.76 million a year ago.
At 11.46am, Zecon shares were up 0.5 sen or 0.96% at 52.5 sen, bringing a market capitalisation of RM75.66 million. A total of 83,600 shares were traded.
2020-07-21 12:26
Superb good news from budget 2021 for the construction sector !
MRT 3 and HSR making a comeback
CONSTRUCTION
Saturday, 07 Nov 2020 By INTAN FARHANA ZAINUL
https://www.thestar.com.my/business/business-news/2020/11/07/mrt-3-and-hsr-making-a-comeback
The government is reviving the multi-billion ringgit Mass Rapid Transit Line 3 (MRT 3) under the Budget 2021 that
will be a boom for construction companies.......
2021 Budget: Government to proceed with HSR project
By New Straits Times - November 6, 2020 @ 8:20pm
https://www.nst.com.my/news/nation/2020/11/638836/2021-budget-government-proceed-hsr-project
KUALA LUMPUR: The government will proceed with the Kuala Lumpur-Singapore High-Speed Rail (HSR) infrastructure project.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, in tabling the 2021 Budget in the Dewan Rakyat today, however said the implementation of the project was subject to discussions with Singapore.
"The government will continue the HSR project as this project is expected to generate a positive multiplier effect to the country's economy," he said.
2020-11-07 11:51
President Biden is favours to world trade !
World economy will start booming from today onwards !
And asian stock markets including KLSE will be in bull market from today onwards !
As at 2.10pm,
Hang Seng : 26,095.46 (+382.49) (+1.49 %)
Shanghai composite: 3,380.38 (+68.23) (+2.06 %)
Nikkei : 24,912.31 (+587.08) (+1.41 %)
Taiwan Weighted : 13,127.47 (+153.94) (+1.19 %)
Korea Kopsi : 2,449.96 (+33.46) (+1.38 %)
Singapore STI : 2,611.34 (+32.66) (+1.27 %)
Huat ah ! Heng ah ! Ong ah !
2020-11-09 14:59
Wow, oil price spike up like mad !
As at 9.50pm,
Nymex at => $40.67 (+3.53) (+9.50 %)
Brent at => $42.77 (+3.32) (+8.42 %)
Huat ah ! Heng ah ! Ong ah !
2020-11-09 22:11
Oil Jumps by Most Since June on Covid Vaccine Progress
Alex Longley and Matthew Martin
Mon, November 9, 2020, 9:54 PM GMT+8·2 min
https://finance.yahoo.com/news/oil-climbs-biden-win-spurring-105416567.html
2020-11-09 23:48
(Bloomberg) -- Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Crude futures spiked following news the vaccine, being developed by Pfizer and BioNTech SE, prevented more than 90% of infections in a study of tens of thousands of volunteers.
Markets globally surged. WTI climbed more than 10% in New York, while global equities soared. It led to broader strength in the oil futures curve, with timespreads also moving sharply higher.
A vaccine “would be the most meaningful type of mitigator to the situation,” Saudi Energy Minister Prince Abdulaziz Bin Salman said prior to the Pfizer announcement at a conference on Monday. “We’re still hopeful that vaccine is found and that vaccine or vaccines spread and hopefully mobility would be regained.”
Since Covid first emerged, oil markets have been steadily recovering from the biggest crash in consumption in a generation. Transport use in Asia has rebounded strongly, but the renewed resurgence of the virus in Europe has continued to weigh on demand in the region. The emergence of a vaccine would not only help regions suffering form renewed lockdowns, but could also help spur the return of aviation demand -- the hardest hit corner of the market.
The relief in the market was seen in the profits from turning crude into transport fuels. Gasoline cracks in the U.S. reached their highest since mid-October, while those in Europe also gained. Jet fuel was also gaining relative to the value of other transport fuels in Europe, Bloomberg fair value data show.
Prices had earlier rallied as Joe Biden declared victory in the U.S. presidential election and began preparations to navigate America’s pandemic-hit economy out of crisis, with potential shifts coming on a range of policies from fiscal stimulus to Iranian sanctions. At the same time, Saudi Arabia said that OPEC+ could extend oil cuts through 2022 as the group seeks to re-balance the glutted market.
2020-11-09 23:48
Walaoeh, Dow Jones spike up to sky high !
As at 12.05am,
Dow Jones at=> 29,425.57 (+1,102.17) (+3.89 %) !
Huat ah ! Heng ah ! Ong ah !
2020-11-10 00:41
Walaoeh, Dow Jones continue it’s bull run !
Dow Jones closed at=> 29,420.92 (+262.95) (+0.90 %) !
Huat ah ! Heng ah ! Ong ah !
2020-11-15 19:43
Dow Jones continue to spike up like mad !
Dow Jones closed at=>29,950.44 (+470.63) (+1.60 percent)
Huat ah ! Heng ah ! Ong ah !
1 month ago
Malaysia in deal with China for Covid-19 vaccine development
PUBLISHED : 18 NOV 2020 AT 19:40
WRITER: REUTERS
https://www.bangkokpost.com/world/2021843/malaysia-in-deal-with-china-for-covid-19-vaccine-development
2020-11-20 08:08
KUALA LUMPUR: Malaysia said on Wednesday it has signed an agreement with China to cooperate on the development of a safe and efficacious vaccine, as part of efforts to combat the Covid-19 pandemic.
Under the agreement, in force for an initial period of five years, the Southeast Asian nation will be given priority access to Covid-19 vaccines developed by China. Both will share knowledge and expertise and facilitate scientific and technological capabilities to advance vaccine development in their countries, Malaysia said in a joint ministerial statement.
Science, Technology and Innovation Minister Khairy Jamaluddin signed the agreement with his Chinese counterpart Wang Zhigang in a virtual ceremony.
Cooperation between Malaysia and China under the agreement would be supervised by a committee chaired by the foreign affairs ministers of both countries that was formed in October to address post-pandemic challenges.
"Both countries will also support the participation of their public and private sectors including universities, institutions, societies and organisations in joint collaborative projects," the Malaysian ministries said.
2020-11-20 08:09
Khairy: Malaysia to pay RM94mil upfront for vaccine under Covax plan
* NATION
* Thursday, 19 Nov 2020
10:53 AM MYT By MARTIN CARVALHO, RAHIMY RAHIM and TARRENCE TAN
https://www.thestar.com.my/news/nation/2020/11/19/khairy-malaysia-to-pay-upfront-rm94mil-for-vaccine-under-covax-plan
2020-11-12 13:11
Wow, oil price continue it’s bull run !
As at 12.30am,
Nymex=> $42.85 (+0.43) (+1.01 %)
Brent => $45.80 (+0.73) (+1.62 %)
Huat ah ! Heng ah ! Ong ah !
2020-11-12 13:24
Wow, oil price continue to spike up like mad !
As at 1.25am,
Nymex=> $44.95 (+1.89) (+4.39 percent)
Brent=> $47.77 (+1.73) (+3.76 percent)
2020-11-25 13:30
MP PAS: Muhyiddin ada 3 pilihan jika Belanjawan 2021 tak lulus
Diterbitkan 24 Nov 2020, 9:06 pm
Dikemaskini 24 Nov 2020, 11:18 pm
1
Seorang anggota parlimen PAS menggariskan tiga pilihan buat Perdana Menteri Muhyiddin Yassin sekiranya Belanjawan 2021 tidak diluluskan di Dewan Rakyat, Khamis ini.
2020-11-25 07:06
Walaoeh, Dow Jones continue it’s bull run !
Dow Jones closed at=> 30,046.24 (+454.97) (+1.54 percent) ! Huat ah ! Heng ah ! Ong ah !
2020-11-25 07:48
zecon in dec 2020, sudden up alot, now more than 6 month, worth to monitor
2021-11-12 17:01
Kimlum got new borneo project partner of kimlum zecon will get more project too go pan borneo go zecon
2021-11-13 18:08
https://www.freemalaysiatoday.com/category/nation/2021/12/14/dewan-rakyat-unanimously-passes-ma63-bill/
director acquired more funding coming UPTREND LANGIT
2021-12-13 18:27
https://www.tradingview.com/x/IJUAIXr7
on semi log monthly chart ...look like at the long term down trend with possible TP @ last PP 25sen ??
2022-01-16 11:49
apa macam zecon no trading?? suspended?? total no bid...did i miss anything?
2022-11-14 08:46
https://www.freemalaysiatoday.com/category/nation/2022/05/22/pan-borneo-highway-is-82-complete-says-works-minister/
Is UPTREND coming?
2022-05-22 09:13
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2020-07-08 11:49