Corporate digest

Valuetronics Holdings

VALUETRONICS Holdings on Monday said that over 80 per cent of its employees in China have resumed work. The reduced production days and a temporary drop in production capacity in February and early March will lead to a decrease in revenue for the six months ending March 31, 2020, the group noted, without disclosing the expected revenue drop.

UMS Holdings

PRECISION engineering firm UMS Holdings said on Monday that its factory in Penang will remain closed until March 31 in compliance with Malaysia's ongoing Movement Control Order. This comes as it has not received approval from the Ministry of International Trade & Industry to continue operating during the restriction period.

Frencken Group

EQUIPMENT service provider Frencken Group said on Monday that it has received approval from the Malaysian authorities to continue its mechatronics manufacturing operations in Bangi, Selangor, amid Malaysia's ongoing Movement Control Order. It added that it will adhere to conditions such as reducing the number of employees working at its factory.

Zico Holdings

CATALIST-listed Zico Holdings has closed its business premises in Malaysia from March 18 to 31 in compliance with the movement restriction order, said the firm in a statement on Monday. It has since implemented a business continuity plan for its subsidiaries in Malaysia.