Santak extends closure of Johor factory
CATALIST-LISTED Santak Holdings has extended the closure of its Johor factory from April 1 to April 14 in accordance with the Malaysian government's movement control order, it said in a bourse filing on Thursday.
As a result, the closure is expected to "impact the production" of precision machined parts manufactured there. In addition, Malaysian employees working at the group's Singapore factory have been unable to commute daily to work as a result of the movement control order.
The group is hence expecting a "negative impact" on its financial performance, as well as its earnings per share and net asset value per share for the current financial year ending June 30, 2020. It added that it was currently unable to ascertain the extent of the impact.
Santak shares closed flat at 8.5 Singapore cents on Thursday.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Toymaker Hasbro posts quarterly profit beat, slower sales decline
CapitaLand India Trust Q1 net property income up 19%
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
Hilton lifts 2024 profit forecast on international travel demand
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Orsted says Taiwan wind project to power TSMC on track for 2025 finish