KUALA LUMPUR: TEXCHEM RESOURCES BHD [] said its Thai operations under Texchem-Pack (Thailand) Co Ltd has been affected after the factory in Ayutthaya was flooded on Oct 15, forcing the plant to cease operations temporarily.
Texchem-Pack Thailand's core business is manufacturing and sale of thermoformed packaging products and precision injection moulded trays/parts.
In a filing Monday, Oct 17, Texchem Resources said the cessation of production would affect the performance of Texchem-Pack Thailand and will also have an impact on the performance of Texchem-Pack Holding Group (S) Ltd.
It said that to minimise disruptions to the businesses of Texchem-Pack Thailand's customers that were not severely affected by the flood, arrangement had been made for other members of group in China and Malaysia to provide support and continue to supply to its customers.
'At this time, Texchem Resources is unable to ascertain the extent of the damage. The effect of this incident on the net tangible assets and earnings of Texchem Resources group for the financial year ending Dec 31, 2011 will depend on the extend of the damage, the recovery speed of Texchem-Pack Thailand's customers and the amount of recovery from insurance claims,' it said.
However, Texchem Resources said that the impact resulting from the flood to was not expected to be severe.
Texchem-Pack Thailand is a wholly owned subsidiary of Texchem-Pack (M) Bhd -- which in turn is a unit of Texchem-Pack Holdings (S) Ltd, an approximately 70.48% owned subsidiary of Texchem Resources
Texchem-Pack Thailand's core business is manufacturing and sale of thermoformed packaging products and precision injection moulded trays/parts.
In a filing Monday, Oct 17, Texchem Resources said the cessation of production would affect the performance of Texchem-Pack Thailand and will also have an impact on the performance of Texchem-Pack Holding Group (S) Ltd.
It said that to minimise disruptions to the businesses of Texchem-Pack Thailand's customers that were not severely affected by the flood, arrangement had been made for other members of group in China and Malaysia to provide support and continue to supply to its customers.
'At this time, Texchem Resources is unable to ascertain the extent of the damage. The effect of this incident on the net tangible assets and earnings of Texchem Resources group for the financial year ending Dec 31, 2011 will depend on the extend of the damage, the recovery speed of Texchem-Pack Thailand's customers and the amount of recovery from insurance claims,' it said.
However, Texchem Resources said that the impact resulting from the flood to was not expected to be severe.
Texchem-Pack Thailand is a wholly owned subsidiary of Texchem-Pack (M) Bhd -- which in turn is a unit of Texchem-Pack Holdings (S) Ltd, an approximately 70.48% owned subsidiary of Texchem Resources
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