Sorry to say bro i_investor, zelan still struggling to complete thier show room office in BBCC Project right now. Everyday I passing by thru Pudu Jail and I saw they still fixing wall clading. My observation on that project around 65% completed.
The golden goose ( IIUM ) contributed RM 23mil losses and project completion delayed as shared by Marcus earlier. The poor works quality caused another RM16mil. The legal cases and little cash with huge debt are worrying.
thecontratian. can help me see see kipreit worth to invest. ipo 1. 00 jow only 97sen. as i know kipreit is rental business as we know very safe and high dividend counters. but kip seem no one interested. so I still need your comment kipreit is a good for future?
《Prospects for the next Financial Year》can wait one more QR again?
The Group expects the International Islamic University Malaysia Foundation Center project to be completed by May 2017 and will be expecting the revenue from Availability Charges and Asset Management Services beginning from third quarter 2017. Un addition, earnings of the Group is expected to improve based on the contribution from Sungai Besi Ulu Kelang Highway project 2017
The group will continue to take positive steps to improve the group's performance through continiuous assessment of internal and external risks, implementation of strategies to control costs and to remain focus in achieving long term sustainable growth delivering value for shareholders.
Zelan loss widens in fourth quarter due to provisions
PETALING JAYA: Losses at Engineering and construction company Zelan Bhd widened in the fourth quarter ended Dec 31, 2016, due to provisions of RM16.4 million for rectification of defect work and diminution in carrying value of long-term receivables of RM25.9 million as payments due were further delayed.
The group registered a net loss of RM38.3 million for the quarter, compared with RM18.5 million for the same quarter in the year before.
This was on a 44% drop in revenue to RM64.7 million, compared with RM115.8 million for the corresponding quarter in 2015.
The group expects the International Islamic Unveristy Malaysia Foundation Center project to be completed by May 2017 and will be expecting the revenue from availability charges and asset management services beginning from third quarter 2017.
In addition, earnings is expected to improve based on the contribution from Sungai Besi-Ulu Kelang Highway project in 2017.
The group will continue to take positive steps to improve the group’s performance through continuous assessment of internal and external risks, implementation of strategies to control costs and to remain focus in achieving long-term sustainable growth while delivering value to shareholders.
For the full year ended Dec 31, 2016, Zelan swung to a net loss of RM68.25 million, compared with RM30.49 million for the same period in 2015.
Revenue for the year was also almost halved to RM222.27 million, compared with RM412.97 million for the same period in 2015.
As l mentioned earlier court pending cases would not be inclusive in the fourth qrts financial statement which would trigger Pn17 status for Zelan .The decleared financial report confirmed Zelan free status although making loses .lt is bad shape temp just the same like Eversendai and Ahmad Zaki been cheated by Middle East before. So.........................!!!!!
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....
Shi Ying
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Posted by Shi Ying > 2017-02-06 13:58 | Report Abuse
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