Econ Healthcare expects to book S$3.4m loss from selling stake in Crosstec
Add BT as a preferred source
CATALIST-LISTED nursing operator Econ Healthcare (Asia) EHG said late Wednesday (Jan 12) it expects to book S$3.4 million in losses from selling all of its stake in Crosstec Group Holdings, after the latter's shares plunged earlier in the week.
Econ Healthcare had recently invested around S$4 million of its idle working capital to buy 11.8 million shares in Crosstec, a Hong Kong-listed interior design company.
On Tuesday (Jan 11), Crosstec shares nosedived 84 per cent to HK$0.38. Econ Healthcare said its board of directors was "not aware of the reason for the substantial decrease".
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Abandoned ‘Titanic’, failing ‘ancient towns’: Why China’s tourism boom leaves white elephants behind
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
