Triyards down 18% amid fallout from Ezra's Chapter 11 filing

Singapore

THE knock-on effects of Ezra Holdings' quest for Chapter 11 protection with the US bankruptcy court last Sunday continue on its subsidiaries.

On Wednesday, the stock of Triyards Holdings plunged five cents or 17.5 per cent to S$0.235, after the firm announced the previous day that its financiers may seek to assert rights, including the right to demand immediate repayment and termination or withdrawal of its loans at any time.

Some 2.4 million shares changed hands on the exchange. In its filing to the bourse, it said: "The moratorium afforded under the Ezra Chapter 11 Filing does not stay claims against the group (Triyards) in relation to these existing banking facilities. The group has/will engage and work closely with its financial institutions to ensure that there i…