Euro Holdings unit served with claims for RM5.3m

September 14, 2018 | By | Reply More

Grab latest promotion at LAZADA now!

PETALING JAYA: Euro Holdings Bhd said its subsidiary Euroland & Development Sdn Bhd (Euroland) has received a notice demanding for claims totaling RM5.31 million by Tack Yap Construction (M) Sdn Bhd.

The furniture maker and property developer told the stock exchange that the company is seeking legal advice on the matter.

Euro Holdings said the estimated potential liability is up to the amount claimed against Euroland of RM5.31 million, being the amount due and owing to Tack Yap as at the date of the notice pursuant to Court order dated July 18, 2018.

“There is no significant financial and operational impact, other than the amounts owing as indicated above,” it added.

At 2.10pm, the group’s share price slipped half a sen or 2.86% to 17 sen, bringing its market capitalisation to RM45.4 million.

FREE RM12.70 credit upon sign up to discover and book amazing travel experiences with Klook.

Category: News

About the Author ()

Leave a Reply