Thursday, October 20, 2011

Kumpulan H&L High-Tech halts Thailand ops

KUALALUMPUR: Kumpulan H&L High-Tech Bhd's (HIghTec) 70% owned subsidiary in Thailand has temporarily ceased its operations there due to the severe flood conditions.

It said on Thursday, Oct 20 that H&L High-Tech Mould (Thailand) Co. Ltd. (H&LM) located at Bangpa-In Industrial Estate, Ayutthaya had halted its operations.

H&LM is principally enaged in the manufacturing of metal pants for electronic and metal surface treatment.

HighTec said H&LM and its local team were in the process of monitoring the events leading to the above and is working on the recovery plan.

'The financial effect on the earnings of the group for the financial year ending Oct 31, 2011 will depend on the amount of damages and the extent of its recovery which could not ascertained at the moment,' it said.

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