HS Optimus' (SGX:504) subsidiary, HS Optimus Wood Products, secured new banking facilities of up to 9 million ringgit by United Overseas Bank (Malaysia), according to a Friday filing with the Singapore Exchange.
Shares of the manufacturer of industrial doors sank over 25% in Monday trading.
The facilities will be used to finance the purchase of trade related goods and for general working capital needs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.