TEAC Struggling To Survive As Parent Company Gets Walloped
How long can TEAC last, this is the question that several consumer electronics professionals are asking, after parent Company TTA Holdings saw another 20% slump in their share value yesterday.
Now questions are being asked as to why retailers are stocking TEAC products as the Company has a history of problems in Australia.
In Mach 2017 TTA Holdings, the official distributor of TEAC consumer electronics products in Australia, saw its shares on the Australian Stock Exchange placed in a trading halt due to a restructuring of the Company.
Back in October, shares in TTA Holdings slumped 26% on the ASX following the collapse of the Big Box Retailer in Singapore, what is not known is what losses the Company incurred.
In early 2017, TTA Holdings moved to offload assets, to restructure their Australian operation however questions were raised at the time as to whether the proposed course of action would get approved and whether, the acquisition of share is a move to establish a new Chinese funded legal network in Australia.
In a statement to the ASX the Company said at the time that they were selling shares in TTA to Jingyi Group Co Limited, a Chinese equity fund so that TTI the holding Company, is no longer a shareholder in TTA.