Trendlines Group not expecting ‘significant impact’ on operations from Israel-Gaza conflict

ISRAEL- and Singapore-based startup incubator Trendlines Group does not anticipate “significant impact” on its operations arising from the armed conflict between Israel and Hamas; “limited impact” is expected on some of its portfolio companies’ operations, the Catalist-listed company said in a bourse filing on Monday (Oct 9).

The company, which has its office in Misgav Business Park in northern Israel, said its operations are “well distant” from the military activities in the south.

Still, the impact of such an event has ramifications for the whole company, Trendlines said, including staff being called up for army duty.

Israel declared a state of war on Saturday after Palestinian militant group Hamas fired some 2,200 missiles from the Gaza Strip. So far, more than 1,100 people have been reported killed in Israel and Gaza.

“Sadly, Israelis are well experienced in dealing with emergency situations and responding quickly to contain terrorist damage,” the company’s chair and chief executive Todd Dollinger said. “We are doing all we can to help our staff, companies, and all in need.”

The company, which invests in and incubates innovation-based medtech and agrifood technologies, also said it will continue to monitor the well-being of its staff, as well as the situation.

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The counter fell S$0.002, or 2.17 per cent, to close at S$0.09 on Monday.