Zelan shares fall 4% on wider 4Q net loss

KUALA LUMPUR (Feb 20): Zelan Bhd share price dipped 4% after posting a wider net loss of RM59.1 million in its fourth financial quarter ended Dec 31, 2017 (4QFY17), compared with RM37.7 million a year ago.

At 12.30pm, the counter shed half sen to 12 sen with 3.66 million shares done, for a market capitalisation of RM105.61 million. The counter has fallen 20% in a year.

Zelan’s bigger net loss was due to gross loss of RM1.1 million, diminution in carrying a value of long-term receivables from International Islamic University Foundation Centre project and Meena Plaza project of RM43.4 million, and a higher unrealised foreign exhange loss of RM5.7 million from overseas subsidies. — theedgemarkets.com

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