KUALA LUMPUR (Dec 21): KPS Consortium Bhd, which is primarily engaged in the manufacture of tissue-related products, said its subsidiary’s factory in Klang has been affected by the recent flood due to the continuous heavy rain over the weekend.
I’Kranji Industries Sdn Bhd’s factory is located at Lot 574, Jalan Batu Tiga Lama, Sungai Rasa in Klang, according to a bourse filing.
“The operation of I’Kranji will be affected for a few days in order to carry out maintenance repairs on machinery and clearing up some stocks in-hand which were left on the floor and were damaged.
“At this moment of time, the management has yet to determine the quantum of the loss,” said KPS Consortium.
However, KPS Consortium’s board of directors opined that the damage arising from the flood incident is not expected to have any material effect on the group’s earnings per share and net asset per share for the financial year ending Dec 31, 2021.
KPS Consortium’s shares were last traded at 54 sen, with a market capitalisation of RM79.09 million.
