Thursday, April 12, 2012

XIAN LENG , SMPC ........

The board of Xian Leng Holdings Bhd will improve the company’s corporate governance, following a special audit which revealed financial irregularities in the commercial breeder of ornamental fish.

In a statement to the exchange on Tuesday, Xian Leng said its directors will consider and implement preemptive and corrective measures including the appointments of key personnel to oversee its business. These include a legal advisor and monitoring accountant, apart from an officer in charge of the daily operations of the firm.

SMPC Corp shares rose as much as 7% on Tuesday morning as investors chased the stock before it goes ex-rights on Thursday (April 12). The final day of lodgement is on April 16. The steel manufacturer climbed 17 sen to reach an intraday high of RM2.53, before trading lower at RM2.50 at 11.56am.