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

Tan Nai Lun

Tan Nai Lun

Published Thu, Jan 13, 2022 · 08:28 AM
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CATALIST-LISTED nursing operator Econ Healthcare (Asia) EHG : EHG 0% 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…

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