【ZELAN 7028 交流专区】吉朗

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Date of change	01 Dec 2018
Name	PUAN INTAN NURULFAIZA BINTI YANG RAZALI
Age	42
Gender	Female
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Operating Officer

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Masters LL.M (Masters of Laws) University of Malaya 2 Degree LL.B (Hons) – Bachelor in Law (Honours) University of Technology Mara (UiTM) Shah Alam
Working experience and occupation	Intan Nurulfaiza Binti Yang Razali started her career in legal field and had been with several law firms since 2003. In 2006, she left the legal practice to serve Telekom Malaysia as Corporate Counsel until 2008. She then joined Malaysian Communications and Multimedia Commission and Multimedia Development Corporation, prior to joining Zelan Berhad in 2010. During her tenure in Zelan Berhad, she held various positions with her last position as Head of Legal, Zelan Berhad in 2014. She subsequently joined Tradewinds Corporation Berhad as the Assistant Director, Legal from August 2014 until May 2018, prior to rejoining Zelan Berhad as Head of Legal Department.

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Expiry/Maturity of the securities

ZELAN BERHAD

Instrument Category	Securities of PLC
Instrument Type	Warrants
Type Of Expiry	Expiry/Maturity of the securities
Mode of Satisfaction of Exercise/Conversion price	Cash
Exercise/ Strike/ Conversion Price	Malaysian Ringgit (MYR) 0.2500
Exercise/ Conversion Ratio	1:1
Settlement Type / Convertible into	Physical (Shares)
Last Date & Time of Trading	08 Jan 2019 05:00 PM
Date & Time of Suspension	09 Jan 2019 09:00 AM
Last Date & Time for Transfer into Depositor's CDS a/c	17 Jan 2019 04:00 PM
Date & Time of Expiry	25 Jan 2019 05:00 PM
Date & Time for Delisting	28 Jan 2019 09:00 AM

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6013329

Attachments Zelan Berhad - Notice to Warrant Holders.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2018	31 Dec 2017	31 Dec 2018	31 Dec 2017
		$$'000	$$'000	$$'000	$$'000

1	Revenue	11,713	17,228	85,056	70,911
2	Profit/(loss) before tax	7,421	-65,898	-7,374	-71,393
3	Profit/(loss) for the period	4,579	-65,817	-10,457	-74,258
4	Profit/(loss) attributable to ordinary equity holders of the parent	4,590	-65,650	-10,446	-74,071
5	Basic earnings/(loss) per share (Subunit)	0.54	-7.77	-1.24	-8.77
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0700		0.0800

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Type	Announcement
Subject	OTHERS
Description	CONCESSION FOR THE DEVELOPMENT OF CENTRE FOR FOUNDATION STUDIES (PHASE 3), INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA, GAMBANG CAMPUS IN PAHANG
Reference is made to the earlier announcements made by Zelan Berhad (“Company”) dated 2 November 2011, 5 July 2012 and 3 January 2013 respectively in respect of the Concession Agreement dated 5 July 2012 (“Concession Agreement”) entered into between the Government of Malaysia, International Islamic University Malaysia (“IIUM”) and Konsesi Pusat Asasi Gambang Sdn Bhd (“Concession Company”), a wholly owned subsidiary of the Company, for the development and management of Centre for Foundation Studies (Phase 3), International Islamic University Malaysia, Gambang Campus in Pahang (“Project”). The Company wishes to announce that the Concession Company has on 5 April 2019 received the Certificate of Acceptance (“COA”) issued by IIUM in respect of the Project. Based on the COA, IIUM confirms the acceptance of the availability of the Facilities and Infrastructure of the Project with effect from 1 December 2018. IIUM further confirms that the following payments shall be on the date of signing of the Supplemental Agreement to the Concession Agreement and Sub-Lease Agreement thereto: (i) the payment for the road electrical works (“IIUM Initial Payment”); (ii) the sub-lease rental for the availability of the Facilities and Infrastructure (“Availability Charges”); and   (iii) the payment for the provision of the asset management services (“AMS Charges”). IIUM further affirms that the asset management services period will commence retrospectively from 1 December 2018 until the balance on concession period of approximately 17 years. The issuance of COA by IIUM which giving effect to the commencement of the Availability Charges and the provision of the asset management services by the Concession Company is expected to contribute positively towards the financial position of the Company for the financial year ending 31 December 2019. This amended announcement is made to correct the description of IIUM Initial Payment which should refer to 'road electrical works' instead of 'road and electrical' as previously announced on 5 April 2019. This Announcement is dated 8 April 2019.

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Date of change	17 Apr 2019
Name	PUAN INTAN NURULFAIZA BINTI YANG RAZALI
Age	42
Gender	Female
Nationality	Malaysia
Type of change	Others
Designation	Chief Operating Officer
Description	Appointment

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Masters LL.M (Masters of Laws) University of Malaya 2 Degree         LL.B (Hons) – Bachelor in Law (Honours) University of Technology Mara (UiTM) Shah Alam
Working experience and occupation	Puan Intan Nurulfaiza Binti Yang Razali started her career in legal field and had been with several law firms since 2003. In 2006, she left the legal practice to serve Telekom Malaysia as Corporate Counsel until 2008. She then joined Malaysian Communications and Multimedia Commission and Multimedia Development Corporation, prior to joining Zelan Berhad in 2010. During her tenure in Zelan Berhad, she held various positions with her last position as Head of Legal, Zelan Berhad in 2014. She subsequently joined Tradewinds Corporation Berhad as the Assistant Director, Legal from August 2014 until May 2018, prior to rejoining Zelan Berhad as Head of Legal Department.

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Type	Announcement
Subject	OTHERS
Description	ZELAN BERHADDEVIATION OF 10% OR MORE BETWEEN THE ANNOUNCED UNAUDITED FINANCIAL STATEMENTS AND THE AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018
In compliance with Paragraph 9.19(35)  of the Main Market Listing Requirements of Bursa Securities, the Board of Directors  of Zelan Berhad wishes to announce that there is a negative variance of more than 10% between Zelan Berhad’s audited results for the financial period ended 31 December 2018 (AFS)  and unaudited results for the 4Q FYE2018 which was announced on 28 February 2019, in respect of the net loss after tax of Zelan Berhad of RM23.6 million  in the AFS as compared to RM10.5 million as announced in the unaudited results. Please refer to the attachment for the full text of the announcement. This Announcement is dated 30 April 2019.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6148677

Attachments Zelan Berhad - Deviation of Results FYE2018.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2019	31 Mar 2018	31 Mar 2019	31 Mar 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	36,442	20,513	36,442	20,513
2	Profit/(loss) before tax	-1,090	-2,677	-1,090	-2,677
3	Profit/(loss) for the period	-1,502	-3,342	-1,502	-3,342
4	Profit/(loss) attributable to ordinary equity holders of the parent	-1,501	-3,342	-1,501	-3,342
5	Basic earnings/(loss) per share (Subunit)	-0.18	-0.40	-0.18	-0.40
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0500		0.0500

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终止合约合法·吉朗获赔2.98亿
https://www.sinchew.com.my/content/content_2092969.html

（吉隆坡31日讯）吉朗（ZELAN,2283,主板建筑组）宣布，国际仲裁法庭国际商会作出判决，旗下独资子公司——吉朗建筑（马）有限公司终止合约合法，将获得米纳控股有限公司（Meena）赔偿2亿6460万迪拉姆（约2亿9760万令吉）。

该公司文告指出，吉朗建筑（马）有限公司2016年8月16日入禀国际仲裁法庭，以指控米纳控股有限公司在阿联酋阿布扎比的米纳大厦工程的合约中违法。

文告指出，吉朗建筑（马）有限公司7月29日接获国际仲裁法庭的判决，宣判吉朗建筑（马）有限公司终止合约是合法的。与此同时，米纳控股有限公司对过时包层及防热原料、输送原料及MEP原料等削减款额也是错误的。

米纳控股有限公司对中期付款证书及数项非遵守报告的转变，也是不合法及错误，吉朗建筑（马）有限公司的展延期至2015年10月1日，以进行底层修正工程也没有实施延期成本。

该公司正在寻求律师意见以执行法庭判决，以便收回获得颁予的款项及其他额外费用款项。


文章来源 ： 星洲日报 2019-08-01

Type	Announcement
Subject	MATERIAL LITIGATION
Description	ARBITRATION BETWEEN ZELAN HOLDINGS (M) SDN BHD (AS CLAIMANT) AND MEENA HOLDINGS LLC (AS RESPONDENT) IN THE INTERNATIONAL COURT OF ARBITRATION, INTERNATIONAL CHAMBER OF COMMERCE
Reference is made to the announcements on 19 August 2016, 7 October 2016, 4 August 2017 and 13 November 2017 in relation to the arbitration initiated by a wholly-owned subsidiary of Zelan Berhad (“Company”), Zelan Holdings (M) Sdn Bhd (“ZHSB”) against Meena Holdings LLC (“MH”) as the employer pursuant to the Building Contract for Procurement, Construction and Completion of Package 2 Main Construction Package of Meena Plaza Mixed Use Development Project, Abu Dhabi, United Arab Emirates between MH and ZHSB (“Contract”). The Company would like to announce that ZHSB has in the evening of 29 July 2019, received a decision from the International Court of Arbitration, International Chamber of Commerce via Final Award dated 25 July 2019 (“Arbitration Award”) declaring inter-alia, as follows: i) ZHSB’s termination of Contract is valid. ii) The contract of Muqawala made between the parties has terminated for the purpose of Article 892 of the UAE Civil Code of Contract. iii) MH’s deduction of sums in respect of obsolete cladding & thermal insulation material, conveying materials and MEP material were wrongful. iv) MH’s reversal of Interim Payment Certificate (IPC) no.51 by issuing IPC 51R is invalid and wrongfully issued. v) The NCRs no.98,119,121,122, 123 (as qualified) and 97 (to the extent the remedial works do not relate to Basement  B1 slabs) were invalid and/or wrongfully issued by MH. vi) ZHSB is due an extension of time to 1 October 2015 for basement rectification works with no prolongation cost. Accordingly, the Arbitral Tribunal of the International Court of Arbitration, International Chamber of Commerce has awarded ZHSB the following: a) The sum of AED256,141,666.23 which sum includes interest up to 1 June 2019; b) Pre-award interest from 1 June 2019 until 25 July 2019 in the sum of AED52,963.71; c) Parties’ costs in the sum of AED8,403,936.69; d) ICC Costs of Arbitration in the sum of US$585,000; and e) Post-Award interest on items a), c) and d) at the rate of 9% per annum after the date of Arbitration Award until full payment by MH. The Company is in the process of seeking advice from its solicitors on the enforcement of the Arbitration Award with the purpose of recovering the awarded sums. This Announcement is dated 31 July 2019.

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2019	30 Jun 2018	30 Jun 2019	30 Jun 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	19,967	34,360	56,409	54,873
2	Profit/(loss) before tax	2,910	-6,818	1,820	-9,495
3	Profit/(loss) for the period	2,216	-6,519	714	-9,501
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,209	-6,159	708	-9,501
5	Basic earnings/(loss) per share (Subunit)	0.26	-0.73	0.08	-1.12
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0500		0.0500

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2019	30 Sep 2018	30 Sep 2019	30 Sep 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	7,680	18,470	64,089	73,343
2	Profit/(loss) before tax	-814	-5,300	1,006	-14,795
3	Profit/(loss) for the period	722	-5,535	1,436	-15,036
4	Profit/(loss) attributable to ordinary equity holders of the parent	720	-5,535	1,428	-15,036
5	Basic earnings/(loss) per share (Subunit)	0.09	-0.66	0.17	-1.78
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0500		0.0500

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2019

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2019	31 Dec 2018	31 Dec 2019	31 Dec 2018
		$$'000	$$'000	$$'000	$$'000

1	Revenue	16,676	-820	80,765	72,523
2	Profit/(loss) before tax	4,542	-4,435	5,548	-19,230
3	Profit/(loss) for the period	1,233	-8,566	2,699	-23,602
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,233	-8,555	2,661	-23,591
5	Basic earnings/(loss) per share (Subunit)	0.15	-1.01	0.31	-2.79
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0600		0.0500

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ZELAN BERHAD

Date of change	16 Mar 2020
Name	ENCIK HAZIMI BIN BAHARUM
Age	52
Gender	Male
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Executive Officer

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Degree Bachelor of Science in Civil Engineering Lamar University, Texas, USA.
Working experience and occupation	Encik Hazimi Bin Baharum joined Zelan Berhad ("Zelan") in March 2010 as Head of Special Projects and was promoted as Chief Operating Officer on 1 February 2012 before leaving Zelan to pursue other career opportunities on 7 September 2016. He was previously the General Manager leading the Building and Environment Business Unit at Opus International (M) Berhad ("Opus"). Prior to joining Opus, he has also worked as a Project Manager for Zainuddin Parson and Brinckerhoff Sdn Bhd and Telekom Malaysia Berhad. He is a Project Management Professional certified by the Project Management Institute, United State of America and holds a Bachelor of Science in Civil Engineering from Lamar University, Texas, United States of America. His professional career for the last 23 years has been mainly focused on project and construction management for which he has gained vast experience in project business development, design management, planning and contract administration. He has played vital roles in various projects of different complexity including some major and prestigious projects like Bukit Jalil National Sport Complex, KL Sentral, Ipoh-Rawang Electrified Double Tracking and National Heart Institute (IJN) Expension Project.

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SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2020	31 Mar 2019	31 Mar 2020	31 Mar 2019
		$$'000	$$'000	$$'000	$$'000

1	Revenue	13,114	36,442	13,114	36,442
2	Profit/(loss) before tax	3,143	-1,090	3,143	-1,090
3	Profit/(loss) for the period	2,533	-1,502	2,533	-1,502
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,572	-1,501	2,572	-1,501
5	Basic earnings/(loss) per share (Subunit)	0.30	-0.18	0.30	-0.18
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0600		0.0600

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Type	Announcement
Subject	AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
Description	UNQUALIFIED OPINION WITH MATERIAL UNCERTAINTY RELATED TO GOING CONCERN IN ZELAN BERHAD AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019
Pursuant to paragraph 9.19(37) of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of Zelan Berhad  (“the Company”) wishes to announce that the Company’s Independent Auditors, Messrs. Al Jafree Salihin Kuzaimi PLT ("Auditors") had expressed Material Uncertainty Related to Going Concern in its independent auditor'  report for the financial year ended 31 December 2019. The detailed announcement is as per attached below. This Announcement is made on 15th day of July 2020.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3068859

Attachments ZB - Announcement Going Concern.pdf

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2020	30 Jun 2019	30 Jun 2020	30 Jun 2019
		$$'000	$$'000	$$'000	$$'000

1	Revenue	9,320	19,967	22,434	56,409
2	Profit/(loss) before tax	2,737	2,910	5,880	1,820
3	Profit/(loss) for the period	2,628	2,216	5,161	714
4	Profit/(loss) attributable to ordinary equity holders of the parent	2,584	2,209	5,156	708
5	Basic earnings/(loss) per share (Subunit)	0.31	0.26	0.61	0.08
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0500		0.0600

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Type	Announcement
Subject	OTHERS
Description	APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Reference is made to the earlier announcement made by Zelan Berhad (“Company”) dated 16 March 2020 on the appointment of Encik Hazimi bin Baharum as Acting Chief Executive Officer of Zelan Berhad. The Board has during its meeting held on 27 August 2020 confirmed the appointment of Encik Hazimi bin Baharum from Acting Chief Executive Officer to Chief Executive Officer of Zelan Berhad with effect from 16 September 2020. Encik Hazimi bin Baharum worked as Project Management Consultant after he left Zelan on 7 September 2016 as Chief Operating Officer. Prior to joining Zelan in March 2010 as Head of Special Projects, he was the General Manager leading the Building and Environment Business Unit at Opus International (M) Berhad. Prior to joining Opus, he has also worked as a Project Manager for Zainuddin Parson, Brinckerhoff Sdn Bhd and Telekom Malaysia Berhad. He holds a Bachelor of Science in Civil Engineering from Lamar University, Texas, United States of America. He is a Project Management Professional certified by the Project Management Institute with more than 29 years of vast experience in Engineering Services and Construction Industry. This Announcement is dated 15 September 2020.

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2020

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2020	30 Sep 2019	30 Sep 2020	30 Sep 2019
		$$'000	$$'000	$$'000	$$'000

1	Revenue	12,270	7,680	34,704	64,089
2	Profit/(loss) before tax	-1,382	-814	4,498	1,006
3	Profit/(loss) for the period	-1,377	722	3,784	1,436
4	Profit/(loss) attributable to ordinary equity holders of the parent	-1,353	720	3,803	1,428
5	Basic earnings/(loss) per share (Subunit)	-0.16	0.09	0.45	0.17
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0600		0.0600

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Type	Announcement
Subject	OTHERS
Description	UNQUALIFIED OPINION WITH MATERIAL UNCERTAINTYRELATED TO GOING CONCERN OF THE AUDITED FINANCIAL STATEMENTS OF ZELAN BERHAD FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020
Pursuant to Paragraph 9.19(37) of the Main Listing Requirement of Bursa Malaysia Securities Berhad, the Board of Directors of Zelan Berhad (“Zelan” or “the Company”) wishes to announce that the Company’s External Auditor, Messrs Al Jafree Salihin Kuzaimi PLT had expressed their unqualified opinion with material uncertainty related to going concern in its Independent Auditors’ Report dated 31 May 2021 in respect of the financial statements of the Group and the Company for financial year ended 31 December 2020. Extract of the Auditors’ Report: Material uncertainty related to going concern We draw attention to Note 2 in the financial statements, as of that date, the Group and the Company’s current liabilities exceeded the current assets by RM 175.4 million (2019: RM 145.6 million)  and RM 18.6 million (2019: RM 18.8 million) respectively. These events and conditions, along with the other matters as set forth in Note 2 to the financial statements, indicate that a material uncertainty exists that may cast significant doubt on the ability of the Group and the Company to continue as going concerns. Our opinion is not modified in respect of this matter. Independence and other ethical responsibilities We are independent of the Group and of the Company in accordance with the By-Laws (on Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (“By-Laws”) and the International Code of Ethics for Professional Accountants (including International Independence Standards) (“IESBA Code”), and we have fulfilled our other ethical responsibilities in accordance with the By-Laws and the IESBA Code. Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the Group for the current financial year. These matters were addressed in the context of our audit of the financial statements of the Group as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. In addition to the matter describe in the Material Uncertainty Related to Going Concern section, we have determined the matters described below to be the key audit matters to be communicated in our report. Recoverability of the receivable balance from a project owner of the Group's project in Abu Dhabi The Group terminated its project in Abu Dhabi, United Arab Emirates, on 1 October 2015 and entered into an arbitration with the project owner. The evidentiary hearings took place from 6 January 2019 to 16 January 2019 in Abu Dhabi, UAE and the International Chamber of Commerce (“ICC”) arbitral tribunal on 27 July 2019 awarded the Group the final award of AED256.1 million and further interest of 9% per annum until full payment (“Arbitration Award”). The Group then registered the enforcement of the award in the Abu Dhabi Commercial Court of Appeal (“ADCCA”) on 7 May 2020. Next, the project owner has filed a Grievance Application to the ADCCA on 10 June 2020. The ADDCA dismissed the project owner’s Grievance Application on 14 July 2020. On 3 August 2020, the project owner filed an appeal on its Grievance Application to the Cassation Court and was dismissed on 25 October 2020. Accordingly, the Execution Court in Abu Dhabi proceeded with the execution process of the Arbitration Award. The Directors are of the view that the Group is able to recover the Arbitration Award. The Directors made an assessment of the carrying value of the total receivable balance by taking into consideration the timing and duration of the legal enforcement process against the project owner based on advice from the external solicitor. Following from the Directors’ assessment, the Group has since recognised the Arbitration Award as an receivable amounting to AED 222.5 million as at financial year ended 31 December 2020. There is a risk of irrecoverability of the Group's significant receivables arising from the Arbitration Award due to lacking financials information of the project owner and the premature status of the legal proceedings taken by the Group. Due to the inherent uncertainty involved in determining the credit worthiness of the project owner which is the basis of the assessment of recoverability, this is one of the key judgmental areas that our audit is concentrated on. Revenue and costs recognition- construction contracts The Group recognises revenue from construction contracts over time in the Consolidated Statement of Comprehensive Income. Progress of completion is measured using input method which is based on the contract costs incurred up to the end of the reporting period as a percentage of estimated total costs of the project. The Group recognised revenue and gross profit from construction contracts of RM 25.3 million and RM 8.9 million respectively for the financial year ended 31 December 2020. Revenue recognition of a construction contract is inherently complex and we focused on this area because there are significant management estimates and judgements involved  determining the: Stage of completion; Extent of the construction costs incurred to date; Estimated total construction costs; and Need to estimated liquidated ascertained damages (“LAD”) on projects where the estimated completion dates are beyond the contractual completion dates. Steps taken or proposed to be taken to address the key audit matters that relate to the material uncertainty related to going concern as mentioned in the Auditor’s Report with the proposed timeline are as below. The validity of the going concern assumption is dependent upon the following:          i.     Ability of the Group to generate sufficient cash from its operations; ii.    Monitor and manage the progress of its existing construction projects. The Group will engage the project owners on potential extension of time for the on-going projects which may be delayed; iii.   Re-evaluate current contracts to optimise potential revenue and progressively reduce costs on the job scopes and services provided; iv.   Negotiate with subcontractors on the terms and timing of settlement payments for ongoing and completed projects; v.    Receipt of retention sum from the clients within twelve (12) months after the current reporting date for completed projects, where permissible under the contract; and vi.   The Group has secured buyers for eleven (11) units and one (1) whole floor of office lots at Wisma Zelan. Four (4) units has been secured and received with full payment. Balance of seven (7) units are still under the progress of sales completion and full payment is expected to be received by the third quarter of 2021. The Group will continue to identify potential buyers for existing properties. As at the date of this report, there is no reason for the Directors to believe that there Group will not generate sufficient cash from its operations within the next twelve (12) months from the reporting date to repay the existing borrowings, complete the projects in progress and meet working capital. Accordingly, the financial statements of the Group does not include any adjustments relating to the recoverability and classification of recorded asset amounts or to amounts and classification of liabilities that may be necessary if the Group is unable to continue as a going concern. This Annoucement is dated 7 October 2021

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2021

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2021	30 Sep 2020	30 Sep 2021	30 Sep 2020
		$$'000	$$'000	$$'000	$$'000

1	Revenue	11,959	12,270	33,992	34,704
2	Profit/(loss) before tax	1,159	-1,383	6,515	4,497
3	Profit/(loss) for the period	392	-1,378	4,658	3,783
4	Profit/(loss) attributable to ordinary equity holders of the parent	400	-1,354	4,666	3,802
5	Basic earnings/(loss) per share (Subunit)	0.05	-0.16	0.55	0.45
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.1200		0.1000

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ZELAN BERHAD

Date of change	04 Oct 2022
Name	PUAN INTAN NURULFAIZA BINTI YANG RAZALI
Age	46
Gender	Female
Nationality	Malaysia
Type of change	Resignation
Designation	Chief Operating Officer
Reason	To pursue other career opportunities.
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of shareholders	No

Qualifications

No Qualifications Major/Field of Study Institute/University Additional Information 1 Masters LL.M (Masters of Laws) University of Malaya 2 Degree LL.B (Hons) – Bachelor in Law (Honours) University of Technology Mara (UiTM) Shah Alam
Working experience and occupation	Intan Nurulfaiza binti Yang Razali started her career in legal field and had been with several law firms since 2003. In 2006, she left the legal practice to serve Telekom Malaysia as Corporate Counsel until 2008. She then joined Malaysian Communications and Multimedia Commission and Multimedia Development Corporation, prior to joining Zelan Berhad in 2010. During her tenure in Zelan Berhad, she held various positions with her last position as Head of Legal, Zelan Berhad in 2014. She subsequently joined Tradewinds Corporation Berhad as the Assistant Director, Legal from August 2014 until May 2018, prior to rejoining Zelan Berhad as Head of Legal Department and thereafter as Chief Operating Officer in 2019.

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Type	Announcement
Subject	PRACTICE NOTE 17 / GUIDANCE NOTE 3 MONTHLY ANNOUNCEMENT
Description	ZELAN BERHAD ("ZELAN" OR "THE COMPANY") MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN 17") OF THE MAIN MARKET LISTING REQUIREMENTS ("MMLR") OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES")
We refer to the Company’s First Announcements dated 30 April 2023 and the subsequent monthly announcements dated 30 May 2023, 30 June 2023, 31 July 2023, 28 August 2023, 29 September 2023, 31 October 2023, 30 November 2023, 29 December 2023 and 30 January 2024 and 29 February 2024 made by the Company in relation to the classification of the Company as an affected listed issuer under PN17. Unless otherwise defined, the definitions set out in the First Announcement shall apply therein. Pursuant to paragraph 4.1 of PN17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad the Board of Directors of the Company wishes to announce that the Company is in the midst of formulating a regularisation plan to address its financial condition. The Group wishes to highlight that in relation to the disclaimer of opinion disclosed in the Independent Auditors’ Report for FYE 31 December 2022, the Group has taken necessary steps as stated below:- i. Opening balances The Group has reconciled the opening intercompany balances between certain receivables and payables which will be eliminated at Group level and auditors have completed their audit. ii. Going concern (a)     Trade receivables The efforts towards the recovery of the awarded sum of RM241.76 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. (b)      Borrowings The Group has received the approval for the debt restructuring on 2 October 2023 from the Bank in Dubai, United Arab Emirates. The Group has signed and executed the rescheduling agreement dated 15 December 2023. iii.   Balances Subject to Verification The Group has formulated an action plan on resolving these issues and is currently in the process of obtaining confirmation of balances from respective parties to ensure existence, accuracy and completeness of outstanding balances for FYE 31 December 2022. As at today the Group had verified the following items as follows:- Description Million   % Verified and Audited Financial Payables RM106.052                 97 Income RM28.997               100 Other Liabilities RM19.102               100 Expenses RM18.351                 99 Other Assets RM15.647               100 Receivables RM12.493                 99 The Group is working together with the auditor on finalising these items. There was no material event subsequent to the end of the current financial year ended 31 December 2023. The Company has approximately one (1) month to submit its regularisation plan to the relevant regulatory authorities for approval to implement the same and will make the necessary announcement on the regularisation plan in accordance with the requirements under PN 17. This Announcement is dated 29 March 2024