Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 15): Ornamental fish breeder and trader Xian Leng Holdings Bhd will participate in the construction of a 500-unit multi-storey flat at Ulu Melaka in Langkawi, Kedah under the 1Malaysia People's Housing Programme.

In a filing with Bursa Malaysia today, Xian Leng said it had on Oct 8 entered into a Memorandum of Understanding (MoU) with TH Mestika Sdn Bhd for the proposed project.

"The purpose of the MoU is to set forth the general understanding of Xian Leng’s intention to participate in the construction of the project together with TH Mestika," it added.

TH Mestika is the sub-contractor of the project.

Under the MoU, TH Mestika will be responsible for the planning and design of the project as well as provision of machineries and equipment for the construction works while Xian Leng will provide resources and services for the construction works.

The MoU shall be effective for a period of 12 months. During the duration of the MoU, neither party shall discuss, negotiate or provide information to any third party.

Xian Leng shares closed up one sen or 2.04% to 50 sen today, for a market value of RM39.78 million.

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