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S'pore-listed firms warn of supply, shipment delays amid virus outbreak
MORE casualties have emerged among the Singapore-listed companies with plants in China, which is battling the outbreak of a deadly respiratory disease that has ravaged the globe.
Valuetronics Holdings, an integrated electronics manufacturing services provider, said on Tuesday that even though it is applying for permission to fire up its factories in the city of Huizhou in Guangdong province, its subsidiaries have also notified customers about potential delays to shipments.
"Although such delay is caused by event (sic) which is beyond the control of the group, the group will endeavour to meet the original shipment schedule as much as possible," the company said, adding that engineers and support staff are working remotely to provide customer support and service.
Meanwhile, corn refiner Luzhou Bio-Chem Technology said that it has yet to reopen its factories and "is unable to ascertain when it may recommence production, as the supply of corn raw materials has also been disrupted" as Chinese authorities work to curb the spread of the virus.
"The company is currently assessing the financial impact of the coronavirus crisis on the group's operations and will provide further details when available," it added.
The latest upset only served to rub salt into the wound for Luzhou Bio-Chem Tech, as the directors were also guiding for a net loss for both Q4 2019 and the full year to Dec 31, 2019. The group's financial statements are due to be released by Feb 29, 2020.