In response to the sharp drop in stock prices, Shengerji said “it may be due to acquisitions of customers in arrears”
Stock prices plummeted and rose yesterday, and the collection responded that “it may be due to acquisitions of customers in arrears”
(KUALA LUMPUR 18th) Yesterday it plummeted by more than 22% $SYNERGY(0279.MY$Today, in response to an Unusual Trading Activity Inquiry (UMA) issued by Bursa Malaysia, it refers to the news that an American customer, Hillsdale Furniture (HF), has been acquired, or the reason for the change in its stock price.
Citing news published on the HomeNewsSnow.com website on July 2, Shengerji said that its customer HF has been acquired by Thai board manufacturer Green River Group (Green River Group), and that the relevant acquisition only includes HF's assets, not including liabilities.
In response, Shengerji pointed out that HF still owes it about 2.9 million US dollars (about 13.53 million ringgit) in terms of furniture transactions this year.
“We are still evaluating the impact of this debt on our company, and are also exploring various options to recover this debt as much as possible.”
Shengerji also emphasized that even if HF is acquired, the company can maintain most of its furniture sales with the former through the Green River Group.
“We promise to protect the interests of shareholders and will update shareholders on any important developments relating to the above events in accordance with the relevant provisions of the listing regulations.”
In addition to the above news, Shengerji said that it is unaware of other company developments or market rumors that may cause changes in stock prices.
Yesterday, the price of Singapore dropped by 31 cents, or 22.46%, to RM1.07.
However, the stock rebounded today. When the market closed, Singapore had almost recovered yesterday's losses. At the end of the day, it was worth RM1.30, up 23 cents, or 21.5%, and traded 9.82 million shares throughout the day.
Source: Nanyang Siang Pao
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