GARDENIA Malaysia, under mainboard-listed QAF, has shut down one of its bakery factories in the country for an undetermined period, as severe flooding from the recent torrential rains ravage the country.

This is expected to affect about 10 per cent of Gardenia Malaysia's total supply for FY2022, until the affected production lines have been replaced or repaired, QAF said in a Tuesday bourse filing.

No employees have been injured, but the damage caused by the flood is still being assessed. As of Nov 30 last year, the inventory and property, plant and equipment at the factory had a total net book value of RM55 million (S$17.8 million). The group's 6 other Malaysian bakery factories remain operational.

QAF has notified insurers and intends to seek recovery under the applicable policies. Payouts received will be treated as income. In the meantime, the management has ramped up production at the unaffected factories and adjusted product mix to mitigate supply disruption.

"As the matter is evolving, the extent of the impact of the closure of the Malaysian factory cannot be quantified at present," QAF said in the filing. Its shares closed flat at S$0.88 on Tuesday.