Thursday, October 13, 2011

MQ Technology's Thai unit suspends operations due to floods

KUALA LUMPUR: MQ TECHNOLOGY [] BHD []'s unit in Thailand has temporarily suspended the operations since Wednesday, Oct 12 due to the severe flooding.

The company said on Thursday, the floods had affected the operations of its unit MPT Solution Co., Ltd in Pathumthani. The unit makes plate moulds, tooling, jig and fixtures for data storage and semiconductors.

'Currently, the company and its local team are in the process of monitoring the events leading to this and taking precautionary measures including the protection of assets and working on recovery plan,' it said.

MQ Technology said the impact of the flooding on its net assets and earnings for the financial year ending Dec 31, 2011 would depend on the damages and extent of its recovery which could not be ascertained as yet.

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