Euro Holdings shares fall 30%, hits limit down

by PRIYA VASU/ pic by MUHD AMIN NAHARUL

Euro Holdings Bhd’s shares fell 30% in the early market trading while the country’s benchmark index advanced, hitting its limit down in the absence of any negative newsflow.

The share price of the office furniture manufacturing and trading company fell to RM1.21 from RM1.72.

According to a filing on Bursa Malaysia on June 3 2021, the executive director Tong Sian Teng retired.

The company’s wholly-owned subsidiary, Euroland & Development Sdn. Bhd. was served with a writ on an incomplete Damai Vista Housing Development Project on 28 May 2021.

The housing project that boasts RM183 mil in gross development value (GDV) was slated for completion by the first half of this year.

Based on data generated by Bloomberg, there were no officers and directors disclosed any open market purchases or sales in the past six months.