Allied Tech halts Malaysia operations, warns of falling sales for next 12 months, Companies & Markets

Allied Tech halts Malaysia operations, warns of falling sales for next 12 months, Companies & Markets

Thu, Mar 19, 2020 - 11:32 AM CATALIST-LISTED Allied Technologies is closing its operations in Malaysia from March 18 to March 31 to comply with

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Thu, Mar 19, 2020 – 11:32 AM

CATALIST-LISTED Allied Technologies is closing its operations in Malaysia from March 18 to March 31 to comply with the government’s movement control order, the precision engineering firm said in a bourse filing on Thursday.

It added that its Malacca and Johor Bahru offices will remain contactable, while all business support functions will be run from its main office in Singapore.

Operations will resume on Apr 1, subject to further directives from the Malaysian government.

Allied Tech said it was unable to assess the impact the operational closures would have on its earnings per share and net asset value per share for the current financial year, but warned investors that the novel coronavirus outbreak could impair its earnings capacity and ability to secure sales for ongoing and new projects in the next 12 months. 

Malaysian Prime Minister Muhyiddin Yassin on Monday night announced a two-week long restriction in movement nationwide from Wednesday to March 31 in a bid to fight the spread of the Covid-19 pandemic.

Apart from supermarkets, public…



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