Posted by chong > 2012-04-15 18:12 | Report Abuse

Xiang Leng Holdings Bhd ...something to digest on this counter......a near perfect rip off by the MD, Chairman & directors?

Police confirm probe into Chua Soi Lek's brother


Police have confirmed that it received a report concerning an alleged corruption case involving MCA president Chua Soi Lek’s brother Chua Chong Seng.

In a text message to Malaysiakini, Criminal Crimes Investigation Department chief Syed Ismail Syed Azizan said the report was lodged on Friday.

He added that a team from the department has begun investigations into the matter but has not classified the case under any section of the Penal Code yet.

According to The Edge, ornamental fish breeder Xiang Leng Holdings Bhd in a special audit had failed to account for RM90.7 million in capital expenditure between 2005 and 2008.

The report said three former directors including Chong Seng were signatories of cash cheques amounting to RM85.7 million given out under questionable circumstances to four contractors for the construction of fish ponds and another RM5 million was paid out to 52 other contractors.

The other two signatories are former managing director Ng Huan Tong and his wife, Lim Wan Hong.

The report added that the cash cheques were made through a licensed moneychanger company which is 80 percent owned by Chong Seng, but he did not disclose them to the company.

According to a filing with Bursa Malaysia by the company, it said the issuance of huge sums of money through cash cheques was against the company’s financial manual and there was a lack of corroborative evidence that the amount was ever paid to the contractors.

Posted by chong > 2012-04-15 18:15 | Report Abuse

As one reader wrote....

Just Xiang Leng only? I think half of the companies listed in bursa are indulged in all kinds of nonsense. So much for supervision and governance we tossed about each day. Ask how many of our small time investors are hoodwinked into departing their hard earned savings when investing in bursa malaysia. Go ahead SC and MACC to investigate all the hankypanky that is going on. It will not complete the investigation in my and your lifetime.

http://www.malaysiakini.com/news/195061

Posted by talk2pkc > 2012-04-27 18:25 | Report Abuse

I wonder why Idris Bin Abdullah acquired 4 million ish shares today and if you take note of "chong" comments , it could tell us another story ???? Appear to be hotter than FIRE ...................

Posted by kianlim2004 > 2013-06-14 17:00 | Report Abuse

The directors' fees of RM$540,000 is blood sucking the company
considering the company has been suffering from losses in the
past 5 years. I don't know why management never learned anything
from mistakes. The truth is the company will only have a future
only if the management keeps shareholders' interest as their
top priority. Instead of doing good good, I believe they are
just blood suckers! Look what I mean, for example, for SURIA
and SSTEEL, these good quality stocks, the directors' fees
are only slightly more than a million so you can easily tell
who are the crooks and who are the good people!
If you don't agree with me, please email me.
My email is kianlim2004@yahoo.com

Posted by pjflower > 2014-01-25 09:36 |

Post removed.Why?

Posted by aventador360 > 2014-09-26 09:42 | Report Abuse

This company got a lot of land in Johore that hasn't been revalued in a long time. So a lot of hidden value in my opinion. Hopefully it will go up in my lifetime and no more nonsense.

Posted by Funtrade > 2015-06-05 10:43 | Report Abuse

Limit up soon. The next Microlyn

Posted by aventador360 > 2015-06-05 11:59 | Report Abuse

RM1

Posted by greatdreamer > 2015-06-08 11:08 | Report Abuse

Now 58sen. Last Tuesday 36sen. Co inform Bursa no unsual activity. NTA @ Jan15 is 65 sen. This co may benefit from depreciating Ringgit on Export Fish Biz and strong local liquidity play. Or may just rebround from low 20sen. About 7-9 yr ago, share price drop from RM2 to low 20sen!

Posted by aventador360 > 2015-06-09 14:21 | Report Abuse

NTA doesn't take into account the assets were last valued many years ago?

Posted by greatdreamer > 2015-06-19 22:30 | Report Abuse

Today close 60sen. Some investor may be impressed by Annual Report Jan 15 release by this week. Chairman Statement say the following achievement in the yr 1) Freshwater stingray quality & quantity has been improved 2) Productivity of Arowana Fish has been increase 3) Borrowing has been reduce to just RM1.5m.

The share price of XL movement appear more depend on its future earning stream. Therefore, land whehter revalue or not are not so relevant unless the land is going to be disposed soon.

Posted by bjgdila123 > 2015-06-23 16:44 | Report Abuse

jatuh sudah mari beli

Posted by theavengers > 2015-07-15 15:38 | Report Abuse

lai liao ....go go go

Posted by aventador360 > 2015-07-16 10:26 | Report Abuse

RM1? :)

Posted by theavengers > 2015-08-04 11:34 | Report Abuse

lai liao ...this one laio liao !!!

Posted by aventador360 > 2015-08-05 13:05 | Report Abuse

RM1.50? :)

Posted by theavengers > 2015-08-08 22:07 | Report Abuse

Bad sentiment...but I think will rebound

Posted by mfmqqq > 2015-12-29 09:26 | Report Abuse

trading buy tp 0.71..accumulate

Posted by tomanhead > 2016-05-26 14:40 | Report Abuse

http://www.usatoday.com/story/news/world/2016/05/25/fish-sapphire-golden-arowana-asia/84908816/

Posted by 1901 > 2017-03-20 18:55 | Report Abuse

gone fishing ma

Posted by kanter > 2017-05-25 19:07 | Report Abuse

Good movement! 有戏看了!

Posted by leslieroycarter > 2017-08-29 14:05 | Report Abuse

Trustworthiness is not found here, so be careful.

Posted by ddd ccc > 2018-05-21 09:29 | Report Abuse

No body comment? It's almost one year already.....

Posted by commonsense > 2019-01-09 05:46 | Report Abuse

The company has never been able to deliver any meaningful profit to its shareholders in the past 10 years with profit only recorded in FY15 and FY16. Even then, the profit was only at RM500k and RM700k respectively. Most of the time the company actually deliver losses to its shareholders. FY19 would not be any different as well given the 9m19 result of -RM400k. I doubt that management will be able to turnaround the company in FY20 as well.

The one good thing about this company is its balance sheet strength where currently it has no debt at all. NTA is at RM0.62 per share which means at the current share price the company is trading at 0.7x PB. That being said, the only way for investors to gain from this is if management decides to sell most of their assets and pay up dividend to the shareholders. I don’t think it will be anytime soon (if ever).

If you are looking to diversify your portfolio outside of Xian Leng (due to its continuous weak earnings outlook), I would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.3x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

For FY19 growth will be driven by the still high demand of new Myvi and the newly launched SUV and also the new Alza in 2H19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Most analysts have a TP of above RM3 for the company with Hong Leong being the lowest at RM3.13 and Maybank the highest at RM4.50.

Good luck.

Posted by sokowanda > 2019-10-29 12:03 | Report Abuse

will going up until i catch a chicken.

Posted by super168 > 2019-10-29 15:34 | Report Abuse

Read more bad new than good news but price keep moving up from stagnant. How come Securities commission didn't check.

Posted by lavenderong > 2019-10-29 16:11 | Report Abuse

I read about the RM90 plus million not accounted for? Company losing money most years. So I guess purely speculation. Insider news anyone?

Posted by Newb > 2019-10-30 09:10 | Report Abuse

U will get burn so bad if u dare to contra or trade on this stock. The people plying it are wolves. Dont get slaughtered

Posted by Gore Victor Lee > 2019-10-30 09:21 | Report Abuse

stop promoting MBMR for these 2 years in other share's counter......very irritating and not the right ways. SHOULD NOT DO and use this kind of tactic!

Posted by Gore Victor Lee > 2019-10-30 09:22 | Report Abuse

SHOULD BE CONDEMNED!

Posted by Newb > 2019-10-30 09:23 | Report Abuse

Avoid counters who went up without any news. U will get burnt esp the price went do high already. They know retail enter they gonna kill all of them

Posted by Newb > 2019-10-31 09:15 | Report Abuse

Hahahaha as expected. All trapped n die now

Posted by Jack Tan > 2019-11-12 13:36 | Report Abuse

PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESSES OF XIAN LENG AND ITS
SUBSIDIARIES TO INCLUDE THE TRADING AND DISTRIBUTION OF EDIBLE BIRD NEST
(“PROPOSED DIVERSIFICATION”)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6336845

Posted by kasinathan > 2019-11-29 10:04 | Report Abuse

The land value if revaluation done today will be worth more than Rm2 per share

Posted by kasinathan > 2019-11-29 10:04 | Report Abuse

Rm1 is coming!!

Posted by kasinathan > 2019-11-29 10:05 | Report Abuse

Only the insider knowing its value

Posted by kasinathan > 2019-11-29 10:05 | Report Abuse

New controlling shareholder will emerge soon

Posted by kasinathan > 2019-11-29 10:07 | Report Abuse

Based on the volume momentum, the new controlling shareholder keep buying and selling just to prevent the price from moving up too fast... But he still a net buyer at the end of the day before making MGO

Posted by kasinathan > 2019-11-29 10:07 | Report Abuse

Coming

Posted by kasinathan > 2019-11-29 10:09 | Report Abuse

New controlling shareholder has been in edible bird nest since 1990s

Posted by kasinathan > 2019-11-29 10:10 | Report Abuse

Hopefully, he can turning this company into great businesses

Posted by tualp > 2019-12-10 17:00 | Report Abuse

dun be too optimistic. The consume level of bird nest is keep on dropping. Nobody wanna eat bird nest. Ppl prefer collagen or plastic surgery la...

Who wanna eat bird nest o?

Will drop to RM0.40 soon. This company so many times MOU tak jadi. I think this round also same la.

Posted by tualp > 2020-01-02 09:10 | Report Abuse

after EGM price down......haha...I think market also lost confidence in this counter and all the MOU.Alamak......Good luck to you guys... See you at 0.40

Posted by Mone1 > 2020-01-06 11:58 | Report Abuse

Why no movement?

Posted by tualp > 2020-02-10 11:45 | Report Abuse

haha.... see you at 0.40.....

Posted by tualp > 2020-03-19 12:45 | Report Abuse

sorry, is see you at 0.20....haha........

Posted by Orson Chin > 2020-04-27 22:07 | Report Abuse

hello...boss... all gorng edy.... what u waiting for?

Posted by WannabeKakies > 2020-04-27 22:12 | Report Abuse

undervalue?

Posted by Orson Chin > 2020-04-28 22:31 | Report Abuse

Yes...... super undervalue

Posted by tualp > 2020-06-09 13:53 | Report Abuse

paria counter. fish cannot jump to dragon door.....

today going to close at 0.28