Ho ho cfu calvin in order not let u be a sorchai whinny here n hv a good sleep during weekends n pls don’t wake up at 2.30 am to do posting.. I take effort to do more research on the latest QR :..
Zelan QR ended 30/9/2019.... cumulative 3QR with profit RM 1.436 million..
Cash n bank balances n deposit increase fr fy2018 (1 yr) rm 4.9 million to FY19 (3Q) rm 8.67 million..
Receivable, deposits and prepayments is RM 781.8 million..
Borrowings is RM 555.4 million .. Trade n other payables is RM 214.1 million .. Total = 555.4 + 214.1 = RM 769.5 million
RM 781.8 mil vs RM 769.5 million is a surplus ..clap clap clap..
Meena Holdings LLC mother company is a public listed company which core businesses in the Fishing Wharf of Zayed Port area.
The demolition is due to :
It was learnt that the demolition will “revitalise the area in line with the new vision for the port area”.According to the Emirate’s 2030 vision, the Port Zayed area was to be turned into a media hub, but that project was moved to Yas Island. In 2018, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, approved a major regeneration project in the Port Zayed area.
Meena Plaza is awarded to AIC on Jan2017 to continue the project is scheduled completion on May2020.
With the demolition meaning there is no more appeal.. compensation on win win situation is expected between Meena Holdings LLC n related Government authorities.
Let’s scrolled back my posts earlier on Zelan worst scenario if Meena court case is failed:..
1) IIUM recurring yearly income of RM75 million per year over 17 years which now is confirmed acceptance on July2019 with payment effective Dec2018.. referring to FY18 annual report .. finance cost plus administrative expenses total is abt rm55 mil .. add additional rm 5 mil for FY19 is RM 60 mil..
RM 75 million vs RM 60 million is still a surplus from IIUM cash cow over 17 years effective Dec2018..
2) Revenue fr SUKE project RM257 million awarded in 2017 ..schedule competition on Feb2020..balance amount is over rm100 million..
Additional :...
3) legal case with NRY Architects( hv over 80 architects employees) of IIUM demanding rm 300 million due to their negligence of delaying IIUM for 3 years..
1) IIUM recurring yearly income of RM75 million per year over 17 years which now is confirmed acceptance on July2019 with payment effective Dec2018.. referring to FY18 annual report .. finance cost plus administrative expenses total is abt rm55 mil .. add additional rm 5 mil for FY19 is RM 60 mil..
RM 75 million vs RM 60 million is still a surplus from IIUM cash cow over 17 years effective Dec2018..
2) Revenue fr SUKE project RM257 million awarded in 2017 ..schedule competition on Feb2020..balance amount is over rm100 million..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calvintaneng
56,703 posts
Posted by calvintaneng > 2020-01-31 15:18 | Report Abuse
It was learnt that the demolition will “revitalise the area in line with the new vision for the port area
YAYA
ZELAN GOT NOTHING
MEENA PLAZA GONE
TOTAL LOSS FOR ZELAN
REVITALISE THE AREA IS FOR PEOPLE THERE NOTHING FOR ZELAN