Xian Leng sees 3.8% stake cross off-market

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KUALA LUMPUR (April 26): Xian Leng Holdings Bhd saw 3 million shares crossed off-market today, representing a 3.77% stake of its total outstanding shares of 79.56 million.

According to Bloomberg data, the shares were transacted in two blocks, all done at 62.5 sen per share, worth a total of RM1.88 million. This represents a 5.93% premium to the stock’s closing price of 59 sen on the open market today.

At the time of writing, it is not known as to who the parties involved in the transactions were.

Xian Leng, which is engaged in breeding and trading of ornamental fishes, saw its net profit grow 49.3% to RM448,000 in the fourth quarter ended Jan 31, 2018 (4QFY18), from RM300,000 a year ago. Quarterly revenue was also up 23.2% to RM3.6 million versus RM2.92 million in 4QFY17.

The increased earnings were due to higher sales volume and pricing of Arowana fish, Xian Leng said in a filing with Bursa Malaysia.

For its full year FY18, it reported a net profit of RM79,000 compared with a net loss of RM3.88 million in the previous year. Its revenue was 20.8% higher at RM13.2 million, from RM10.93 million in FY17.

At today's closing price, Xian Leng's market capitalisation stands at RM46.94 million. Over the past 12 months, the stock has risen 22.9% from 48 sen.