Trading in Notion VTEC shares halted for an hour from 9am

KUALA LUMPUR: Trading in the shares of Notion VTec Bhd was halted for an hour from 9am yesterday following a fire at its main manufacturing plant in Klang last Friday.

In a filing to Bursa Malaysia yesterday, the precision parts manufacturer said trading in the shares had resume with effect from 10am.

In a separate filing, Notion VTec said the Friday’s incident had affected over 552 computer numeric control machines and work-in-progress goods and the quality control building, but not the rear building.

“The surface treatment plants are good and operational,” it said.

Notion VTec said the immediate effects of this outage in the affected plant was about 50 to 60 per cent of the company’s sales revenue.

“But with the fast recovery plan, we will have restored 75 per cent of the outage progressively within five months, and the balance within another three months.

“Of course, the full restoration of structure and certificate of fitness may take up to a year, ”it said.

The company said it would redesign the roofing of restored building to include an impervious ceiling layer over the production floor (to protect and minimise any other fire incidents) and implement better safety and occupational measures and enforcement.