Tuesday, October 4, 2011

#Flash* Xian Leng cautions possible financial irregularities

KUALA LUMPUR: XIAN LENG HOLDINGS BHD [] announced there was some possible financial irregularities relating to the capital expenditure of RM17.36 million stated in the financial statements.

It said on Tuesday, Oct 4, the nature and extent of the possible irregularities could not be accurately determined at this juncture.

'The board of directors is currently looking into the appointment of an independent party to carry out a special audit in order to ascertain the exact nature and extent of such irregularities within two weeks from this announcement,' it said.

The company posted net loss of RM1.31 million on the back of RM3.52 million in revenue for the second quarter ended June 30, 2011.

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