Tuesday, October 11, 2011

Thailand flood shuts down Eng Teknologi units

KUALA LUMPUR: ENG TEKNOLOGI HOLDINGS BHD []'s two units in Ayutthaya, Thailand have temporarily shut down their operations due to severe flood condition there.

In a filing to Bursa Malaysia Securities on Tuesday, Oct 11, Eng Teknologi said its wholly-owned subsidiaries, Engtek (Thailand) Co. Ltd (ETCL) and Altum Precision Co. Ltd (APT), had temporarily shut down operations.

The company it was in the process of determining the extent of the damage, which it said were adequately covered by its insurance policies.

'The management team is currently working out alternative plans to minimise disruptions to their customers,' it said.

Both ETCL and APT are principally involved in the manufacturing of hard disk drive components.

Eng Teknologi said the effect of the event on its earnings for the financial year ending Dec 31, 2011 would depend on the amount of damages and the extent of its recovery.

No comments:

Post a Comment