Stock News: Equation Corp lower as unit Citiraya slumps

Shares of Equation Corp, previously known as Heshe Holdings, edged lower, dragged down by the sharp fall in its 37.5 pct-owned unit Citiraya Industries Ltd, dealers said. Equation Corp was down 0.015 sgd or 7.14 pct at 0.195 on 65.21 mln shares. Top traded Citiraya Industries fell 0.88 sgd or 81.48 pct to 0.20 on hefty volume of 380.77 mln shares. Dealers said shares in electronics waste recycler Citiraya slumped when trading in them resumed after a 19-month suspension as the stock is considered grossly overvalued.