AEM maintains FY2020 sales guidance despite Covid-19 situation

AEM Holdings on Thursday said it is continuing to operate worldwide without any material adverse impact from the Covid-19 measures that have been implemented by various government agencies, and maintains its full-year sales guidance of S$360 million to S$380 million for FY2020.

The company, which provides advanced chip-testing solutions, also announced that its China operations have been operating since Feb 12, 2020, since the stop-work order was lifted by the Chinese authorities.

Its Penang plant has been operating with a leaner workforce since receiving approval from the Malaysian authorities after the Movement Control Order (MCO) took effect on March 18, 2020.

In Singapore, it has received the approval from the Ministry of Trade and Industry for its application to continue workplace activities at its premises. Hence, the group's Singapore operations are carrying on, as it provides manufacturing services that are part of the essential supply chain.