Two Sen Yue subsidiaries shut down premises due to multiple Covid-19 cases

CATALIST-LISTED metals trader Sen Yue Holdings on Monday said that Malaysia's Ministry of Health has ordered two of its subsidiaries in Johor Bahru to shut down due to multiple Covid-19 cases detected on their premises.

The shutdown of CED System and PNE Micron Engineering will respectively last for 13 days and 11 days, and be lifted on March 30, 2021.

The Covid-19 cases were first detected when a worker at CED who was not feeling well tested positive for Covid-19 after visiting a doctor. Subsequent polymerase chain reaction tests were conducted on all CED employees, with two-thirds testing positive.

Due to the proximity of the premises for these two subsidiaries, further tests were carried out on all PNE employees, of which about two-fifths tested positive. As such, all employees of both entities have been ordered to be quarantined at home during the shut-down period.

The group is in the midst of collecting information and plans to fully cooperate with the authorities to contain this outbreak, it said.

The two entities are unable to generate any revenue during the shutdown but the group said that the suspension is temporary and relatively short, and it is in the midst of informing its customers about the situation and renegotiating delivery deadlines.

It is still unable to quantify the extent of the financial impact of the temporary shutdown of both premises, but will monitor the situation and give updates, it said.