The intresting thing is total work AED515,490,023.94 but the claim for just part of the whole job by zelan is almost to the total contract value and Mena Holding claim more than contract value...may be both side value likely over stated and will take long time to resolve.. ZHSB is claiming from MH the total sum of AED452,759,145.78 MH counterclaims against ZHSB the sum of AED591 million
Zelan potentaily win the case bacause MH did not pay on the stratified job done and zelan exit the project based on the legal clause while MH with holding payment on the stratified job done without legal basis but the amount awarded by the court likely very much smaller as per earlier amouncement probably just AED27million.
that not included the one that shown by Calvin earlier where Zelan as the sister company to MMC(the big sister already begged some rm30bil project so far and Zelan has some subcon jobs form MMC) and Malakoff ( the IPP and Zelan has built power station fo Malakoff before), potentially Zelan will have the priority for the subcon jobs for them
other interesting fact; Zelan has completed the construction of International Islamic University Campus, (IIUM), Pahang with total streaming income minimum of RM835.61mil in 23 years...
Actually I am waiting for it to go down further before I load up. With all this good news how is it going to drop further. At some point it should go down to 0.16 kan. Then I will come in.
Actually it is a penny stock with great potential, only need the stock to go rock bottom, and only then the management will pull their socks and start working.
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....
zebrapower
146 posts
Posted by zebrapower > 2016-08-29 12:51 | Report Abuse
Buy and wait