London Biscuits falls 4.76% on being slapped with lawsuit by KFH

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KUALA LUMPUR (Sept 25): Shares in Johor-based confectionery maker London Biscuits Bhd fell 4.76% today after it was slapped with a lawsuit by Kuwait Finance House (Malaysia) Bhd (KFH) for RM5.06 million in outstanding debt.

At the midday break, London Biscuits fell 0.5 sen to 10 sen for a market capitalisation of RM29.08 million.

It received the writ of summons and statement of claim yesterday from the solicitors acting for KFH.

The amount due and payable was RM5.06 million as at Sept 5. The payment default was on Aug 23.