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Cheung Woh Technologies gets go-ahead to re-open Chinese factories
MAINBOARD-LISTED Cheung Woh Technologies, which makes hard disk drives and precision metal-stamping parts, has been given permission from the local Chinese authorities to resume production at its plants in the Guangdong city of Zhuhai.
Its two subsidiaries in Zhuhai, which were to have opened after Chinese New Year on Feb 3, had remained closed owing to China’s widespread containment measures to contain the spread of the deadly Covid-19 outbreak, the board said in an update on Friday evening.
But with the go-ahead to restart work obtained on Feb 14, Cheung Woh said that operations are “expected to resume progressively” as workers return to Zhuhai amid easing travel curbs.
“Suppliers of the Zhuhai subsidiaries are in various stages of resuming operations,” the board added. “We are monitoring the situation closely, and are making necessary arrangements to minimise the impact to our supply chain.”
Cheung Woh, which also has plants in Johor and Penang, last traded at S$0.148 in January.