Company Announcements

Date: 21 May 2018

OTHERS LATITUDE TREE HOLDINGS BERHAD ("THE COMPANY") - STATUS UPDATE ON FIRE INCIDENT AT RK RESOURCES CO. LTD. ("RKR"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OCCURRED ON 5 APRIL 2018


Type Announcement
Subject OTHERS
Description LATITUDE TREE HOLDINGS BERHAD ("THE COMPANY") - STATUS UPDATE ON FIRE INCIDENT AT RK RESOURCES CO. LTD. ("RKR"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY OCCURRED ON 5 APRIL 2018

"Unless otherwise stated, the terms used in this announcement shall carry the same meaning as defined in the Company's announcement dated 5 April 2018."

Further to the announcement made on 5 April 2018, the Board wishes to announce that the fire incident on 5 April 2018 at RKR has resulted in damage to one (1) factory block housing the assembly and packing line and inventories of work-in-progress, packing materials, hardware and finished goods. A Notice of Loss of USD5.50 million (equivalent to RM21.45 million) was submitted to the insurance company, Military Insurance Corporation ("MIC") on 5 April 2018.

The total net book value of the damaged factory building, ancillary structures and installation is approximately USD0.64 million (equivalent to RM2.50 million) whereas the total net book value of the damaged plant and machinery and office equipment is approximately USD0.28 million (equivalent to RM1.09 million).

The total net book value of work-in-progress furniture parts, packing materials, hardware and finished goods (completed furniture) damaged by the fire is approximately USD3.19 million (equivalent to RM12.44 million).

The Board will make further announcement whenever there is new development as well as any significant financial impact on the insurance claim.

This announcement is dated 21 May 2018.





Back

Copyright © 2018 Latitude Tree Holdings Berhad(302829-W) | All Right Reserved | Terms of Website Use

Disclaimer: Inaccuracies may sometimes arise in the provision of the information shown. IRChartNexus Sdn. Bhd., its subsidiaries or partners accept no liability from any loss that may arise from the use of the information.

Designed by: