Quick take: Scomi Group shares fall over 11% as company defaults on loan repayment

TheStar Thu, Feb 14, 2019 09:30am - 5 years View Original


KUALA LUMPUR: Shares of Scomi Group Bhd Thursday fell over 11% after the firm said it had defaulted on bank facilities to Malayan Banking Bhd (Maybank).


The stock declined 11.11%, or 0.5 sen to four sen with 5.8 million shares done.


   

Scomi Group and one of its subsidiary have collectively defaulted in RM315.86mil bank facilities due to Maybank.


Scomi Group said its wholly-owned subsidiary Scomi Rail Bhd received a notice of demand from Maybank for a sum of RM201.91mil, as the latter had failed to repay the bank facilities.

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