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Aoxin Q&M, Luzhou Bio-Chem resume China operations after Covid-19 closures
CHINESE authorities have granted approval to two Singapore-listed companies to resume their operations which had been put on hold last month amid the novel coronavirus outbreak.
Catalist-listed Aoxin Q&M Dental Group has reopened eight of its 17 dental centres in Liaoning province.
The company said it has fulfilled the required standard operating procedures and met the reopening criteria for the four hospitals and four polyclinics.
However, the other nine centres remain closed, and this is expected to have an impact on Aoxin Q&M's financial results for the year ending Dec 31, 2020, according to the group's bourse filing on Monday evening.
Aoxin Q&M announced on Feb 10 that it had shuttered all 17 of its dental centres - comprising 11 polyclinics and six hospitals – until further notice, as directed by the Chinese government and local dental health authorities. The centres are located across eight cities in Liaoning.
On Monday, the group said it has implemented additional safety precautionary measures for front-line staff and will continue to monitor the situation closely.
Aoxin Q&M shares last traded at S$0.15 on Feb 27.
Meanwhile, mainboard-listed corn refiner Luzhou Bio-Chem Technology will resume production across its manufacturing plants from March 5.
An exception is its subsidiary in Sichuan, which had stopped production completely due to poor local market conditions.
Given the uncertainty in the supply chain and labour situation, Luzhou Bio-Chem expects that "some time" may be required before full operations are resumed at its plants.
On Feb 11, the company said its factories remained closed and that the supply of corn raw materials has been disrupted as Chinese authorities worked to curb the spread of the virus.
Shares of watch-listed Luzhou Bio-Chem last changed hands on Jan 20 at 1.5 Singapore cents.
Both Aoxin Q&M and Luzhou Bio-Chem are advising their shareholders and potential investors to exercise caution when dealing in the securities of the companies.