KUALA LUMPUR (June 21): Shares in tile manufacturer Seacera Group Bhd fell 2.33% at mid-morning today after it was served a letter of demand for RM18.3 million from AmBank Islamic Bhd.

At 10.28am, Seacera fell 0.5 sen to 21 sen with 1.51 million shares traded.

Yesterday, the Practice Note 17 (PN17) firm said it received the letter as the guarantor for facilities taken by its subsidiary Seacera Ceramics Sdn Bhd in respect of total amount outstanding and due payable under the Murabahah Tawarruq Term Financing-I and Cashline-I.

Seacera is required to make full settlement within seven days from June 19 failing which AmBank Islamic will proceed with necessary action as deemed fit and all costs will be incurred by the company.