KUALA LUMPUR: Shares of Ageson Bhd
declined over 3% in morning trade on Monday on a legal suit against its subsidiary by RHB Bank Bhd over a RM33mil term loan.
The construction and property developer fell 3.45%, or 0.5 sen to 14 sen. It is one of the most heavily traded counters on Bursa Malaysia with over 20 million shares traded.
Ageson said RHB is suing the group over an RM33mil term loan obtained by its wholly-owned subsidiary Ageson Development Sdn Bhd.
Ageson said it had signed a corporate guarantee and indemnity under which it agreed to pay RHB for the amount owed by Ageson Development.
...