FEG Holdings (HKG:0752) has completed a review of its internal control system and plans a series of remedial actions following its prolonged trading suspension earlier this month, according to a late-Wednesday bourse filing.
The company has proposed to strengthen corporate governance by implementing internal audit functions, setting up formal board committees, and improving controls over consultancy agreements and fund disbursements.
Review also recommended revising workflows related to contract approval and record-keeping, tightening protocols around statutory demands, and enhancing the board's oversight responsibilities.
FEG said it will appoint an internal control adviser and submit a resumption proposal to the Hong Kong bourse in due course.
The company has been under scrutiny over an alleged consultancy agreement and related fund movements, which triggered a compliance review and questions from regulators.
It remains suspended from trading pending further updates.
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