Olam's processing facilities to remain operational, staff on staggered shifts

AGRI-FOOD giant Olam International is keeping processing facilities operational where local regulations allow, and maintaining business operations to serve customer needs in most markets it operates in, it said in a bourse filling on Tuesday.

The mainboard-listed company added that it had implemented additional health and safety precautions at its locations worldwide, and introduced telecommuting and staggered shift rotations at processing facilities for greater social distancing amid the escalating coronavirus spread.

Olam group chief executive Sunny Verghese said: "As a major food ingredients player, we are now more focused than ever on ensuring we keep food arriving at people's tables by securing our global multi-origin supply chains and operations."

He added that the company was making "every effort" to support smallholder farmers, communities, customers and consumers.

Olam is disseminating information on Covid-19 to farmers through its online platforms, supporting mobile payments to farmers, and providing food packages to frontline workers.

The company also raised almost S$1.3 million for Singapore's Courage Fund, which will go towards providing relief for those affected by the Covid-19 crisis, particularly patients, healthcare and frontline workers, and vulnerable Singaporeans.

Of the S$1.3 million, over S$600,000 came from some 200 employees, which was matched dollar-for-dollar by the company.

Olam shares were trading at S$1.44 as at 3.56pm on Tuesday after the announcement, up 4.4 per cent or S$0.06.