Business News

Published: Thursday February 28, 2013 MYT 12:00:00 AM
Updated: Thursday April 18, 2013 MYT 1:54:43 PM

Zelan sinks into the red in Q3, RM20m losses

Generic

Generic

KUALA LUMPUR: Zelan Bhd sank further into the red, reporting losses of RM20.21mil in the third quarter ended Dec 31, 2012 compared with net profit of RM63.37mil a year ago.

It said on Thursday that revenue fell sharply by 85.2% to RM12.73mil from RM86.15mil a year ago. Loss per share was 3.59 sen compared with earnings per share of 11.25 sen.

"The loss for the quarter is derived from a gross loss of RM700,000 (Dec 31, 2011: gross profit of RM94mil), loss in fair value of derivative of RM6.6mil (Dec 31, 2011: RM26.1mil) resulting from the valuation of equity collar derivative embedded with the term loan and the impairment loss on the property, plant and equipment of the project in Abu Dhabi of RM6.7mil. The loss is further impacted by other net operating and income tax expenses of RM6.3mil (Dec 31, 2011: RM4.5mil).

For the nine months ended Dec 31, 2012, it reported net losses of RM32.43mil compared with net profit of RM75.05mil. Its revenue shrank 76.4% to RM47.19mil from RM200.02mil in the previous corresponding period.

Tags / Keywords: News, Business, Zelan Bhd, losses, Business

advertisement

  1. In a cloning first, scientists create stem cells from adults
  2. Langat 2 water treatment project to take off
  3. Shell discovers gas in Block SK318, off Sarawak
  4. Nearly RM1b Langat 2 water treatment plant awarded to Salcon-MMC-AZRB JV (Update)
  5. Too few attending to last will and testament
  6. MAS share price cheapest in 12 years, makes it attractive for privatisation
  7. Another China developer flocks to Iskandar, plans RM10bil projects
  8. M'sian billionaire Quek firms to buy Ezion shares worth RM508mil
  9. Car ownership in M’sia third highest in the world: Nielsen
  10. Sapura and Airbus to establish long-term cooperation in C4ISR

advertisement

advertisement