Management Discussion Analysis
Dear Valued Shareholders,
I am pleased to present the annual report and audited financial statements of the group and the company for the financial year (“FY”) ended 31 December 2023 on behalf of the Board of Directors of Zelan Berhad.
OVERVIEW
The construction industry faces inherent risks such as economic fluctuations,the impact of the COVID-19 pandemic, regulatory changes, and project specific challenges like delays and disputes. Zelan Group acknowledges these risks and has implemented robust risk management measures to mitigate their impact. Malaysia’s construction activity slowed in Second Quarter of 2023 (“2Q-2023”), particularly in civil engineering, with growth tapering to 10.4% year on year.
Despite challenges, we remain focused on leveraging our core competencies in specialised construction segments and pursuing value-added projects to differentiate ourselves in the market.
