<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Apr 24): WZ Satu Bhd shares rose today after the company’s official said it was hoping to see its net profit double for its financial year ending August 31, 2015, compared to a year ago.</p></div>

<div class=newsTextDataWrapInner><p>At 9.38am, WZ satu jumped 5.92% or nine sen to RM1.61 with 119,400 shares done.</p></div>

<div class=newsTextDataWrapInner><p>The group posted a substantial jump in net profit to RM11.68 million for the 16-month consolidated financial period ended August 31, 2014.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>WZ Satu executive chairman and chief executive officer Tengku Uzir Tengku Ubaidillah yesterday said he foresaw the group's mining segment continuing its trend of contributing 50% of earnings for the rest of the year.</p></div>

<div class=newsTextDataWrapInner><p>Shareholders yesterday approved the disposal of Weng Zheng Marketing Sdn Bhd for a cash total of RM6.1 million to its managing director and substantial shareholders Tan Ching Kee.</p></div>

<div class=newsTextDataWrapInner><p>"With this disposal, we are able to recoup about RM22.5 million, including intercompany borrowings, which Tan will reimburse back by taking over this company," Tengku Uzir said.</p></div>

<div class=newsTextDataWrapInner><p>"This money will be very handy for the group. We are already in a net cash position of about RM40 million and this will serve to further enhance our balance sheet," he added.</p></div>

<div class=newsTextDataWrapInner><p>Weng Zheng Marketing is involved in the trading and processing of all types of steel product</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Apr 24): WZ Satu Bhd shares rose today after the company’s official said it was hoping to see its net profit double for its financial year ending August 31, 2015, compared to a year ago.

At 9.38am, WZ satu jumped 5.92% or nine sen to RM1.61 with 119,400 shares done.

...

WZ Satu rises 5.9% on profit outlook

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