Tuesday, October 11, 2011

Notion Vtec's Thai subsidiary halts operations

KUALA LUMPUR: NOTION VTEC BHD []'s subsidiary in Thailand, Notion (Thailand) Co Ltd (Notion Thailand) has stopped operations due to the severe flooding as Ayutthaya.

In a statement Tuesday, Oct 11, Notion said that Notion Thailand had stopped operations from Oct 10.

The company said there was insurance coverage taken against damage caused by flood to property, plant and equipment.

Notion said it was unable to ascertain the amount of damage and loss to property, plant and equipment due to current inaccessibility but was preparing for remedial works to commence once the waters receded.

'At this moment we cannot ascertain when the factory can be operational again and will advise when things are more certain,' it said.

Notion Thailand's principal business is in the manufacture of certain camera components including machining, anodising treatment and also sub-assembly works.

Notion added that one of its camera customers was also based in the vicinity and its factory had temporarily stopped operations.

'As there is no known restart date due to severe flooding, we are unable to comment on the extent of loss due to stoppage of orders from this unexpected event,' it said.

Notion also added that Notion Thailand had never experienced flood or any kind of natural disasters that affected the operations of its factory.


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