Econ Healthcare expects to book S$3.4m loss from selling stake in Crosstec
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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".
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