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Amtek shares fall on news to dispose of entire Crocodile brand inventory

January 12, 2018 5:25 AM
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PETALING JAYA: Amtek Holdings Bhd's share price fell three sen or 8.11% at noon break, after the group announced its plans to dispose of its Crocodile brand inventories to pay loans and creditors.

At 12.30pm, the stock stood at 34 sen with 10,900 shares changing hands. It has a market capitalisation of RM17 million.

Yesterday, Amtek said it will use the RM8 million cash it will raise in the disposal to pay loans and creditors, after its unit decided to terminate the licensing agreement with Crocodile International Sdn Bhd on Jan 8, 2018.

As at Sep 30, 2017 the company's total borrowing stood at RM7.9 million.


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