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.
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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 > 2024-06-24 16:14 | Report Abuse

when leave pn17

Posted by LY Hoh > 2024-06-28 14:31 | Report Abuse

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

Posted by MZM2511 > 2024-06-28 15:27 | 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 > 2024-06-28 15:31 | 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 > 2024-06-28 17:42 | Report Abuse

Thank you for your sharing.

Posted by tomanhead > 2024-07-16 11:45 | 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 > 2024-07-16 17:05 | 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 > 2024-07-17 00:56 | Report Abuse

MZM2511 thank you 👍

Posted by MarioBros > 2024-08-02 15:49 | Report Abuse

Looking bad today. Gonna drop soon. Better cutloss

Posted by LY Hoh > 2024-08-10 11:44 | Report Abuse

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

Posted by MarioBros > 2024-08-13 08:33 | Report Abuse

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

Posted by LY Hoh > 2024-08-15 13:01 | 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 > 2 months 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 months ago | Report Abuse

Maybe out of pn17 insya allah

Posted by LY Hoh > 2 months ago | Report Abuse

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

Posted by MaxGainz > 2 months ago | Report Abuse

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

Posted by HamsterInvestor > 2 months ago | Report Abuse

Rdy to move

Posted by MZM2511 > 2 months 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 %)

Posted by MZM2511 > 1 month ago | Report Abuse

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.
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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

Posted by tomanhead > 1 month ago | Report Abuse

Gone case ??? 🙄

Posted by MZM2511 > 1 month ago | Report Abuse

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

Posted by MZM2511 > 1 month ago | Report Abuse

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

Posted by LY Hoh > 1 month ago | Report Abuse

Just hold another 2 more weeks, the previous already continue 6 times green QR. Sell also rugi, just wait and see....

Posted by B4b4 > 1 month ago | Report Abuse

White knight.....hopefully.....come out from Qatar

Posted by tomanhead > 1 month ago | Report Abuse

Now is the best time to bet …in 2 weeks either double,triple or kaput 😁

Posted by LY Hoh > 1 month ago | Report Abuse

Yes. Now is gambling time. I bet it can out from PN 17 as many QR green😊

Posted by MZM2511 > 3 weeks ago | Report Abuse

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.

Posted by LY Hoh > 3 weeks ago | Report Abuse

Delay again? Previous QR also green, why continue delay and delay????

Posted by MZM2511 > 3 weeks 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 and other relevant authorities both in Abu Dhabi, United Arab Emirates and Malaysia to assist on the recovery of the awarded sum.
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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.

Posted by MZM2511 > 3 weeks ago | Report Abuse

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

Posted by MZM2511 > 3 weeks ago | Report Abuse

(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.

Posted by MZM2511 > 3 weeks ago | Report Abuse

(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.

Posted by MZM2511 > 4 days ago | Report Abuse

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.

Posted by MZM2511 > 1 day ago | Report Abuse

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.