Home News Company in the news

Econ Healthcare exits Crosstech investment with a $3.4 million loss

The Edge Singapore
The Edge Singapore1/13/2022 12:12 AM GMT+08  • 2 min read
Econ Healthcare exits Crosstech investment with a $3.4 million loss
The company will be reviewing its investment strategy to align with its focus on growing its core business
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Nursing home operator Econ Healthcare (Asia) has sold all its shares in Crosstec Group Holdings, and will book a loss on investment of $3.4 million, turning what was initially a paper gain into a loss-making venture.

The loss is equivalent to 9.1% of Econ Healthcare's net tangible asset as of Sept 30 2021.

Econ Healthcare over the last weekend announced that it had spent some $4 million to buy 11.8 million shares of the Hong Kong interior designer, paying the equivalent of 29.26 cents and 40.04 cents each.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.