Santak closes Johor factory, warns of negative impact on financials
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CATALIST-LISTED Santak Holdings has closed its Johor factory from March 18 to March 31 in accordance with the Malaysian government's movement control order, it said in a bourse filing on Monday.
This is expected to have a negative impact on the company's financial performance in the financial year ending June 30, 2020, it said, adding that it was currently unable to ascertain the extent of the impact.
Santak said the closure will impact the production of precision machined parts manufactured in the factory. In addition, several Malaysian employees working at the group's Singapore factory have not been able to commute daily to work as a result of the movement control order.
Santak shares were trading flat at 8.5 Singapore cents as at 9.15am on Tuesday.
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