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Kumpulan H&L ceases ops at Thai unit
by hlk Fri 27 Jul 2012, 22:49
KUALA LUMPUR: Kumpulan H&L High-Tech Bhd has ceased manufacturing operations at its 70 per cent owned subsidiary in Thailand, H&L
High-Tech Mould (Thailand) Co Ltd, with effect from July 31.
H&LM High-Tech Mould is a company incorporated in Thailand and principally engaged in the manufacturing of metal parts for electronic and metal surface treatment.
Located at the Bangpa-in Industrial Estate, Ayuthaya, the factory plant was affected by severe floods from September to December last year, the company said in an announcement to Bursa Malaysia today .
The Board of Directors of the company is of the opinion that it is not commercially feasible for H&LM High-Tech Mould to continue its business operations.
Kumpulan H&L High-Tech said the closure of the business of H&LM High-Tech Mould, will not have any material financial impact on the net assets and earnings of the group for the financial year ending Oct 31, 2012.
This is because the company's contribution to the Group's revenue is not significant.-- BERNAMA
High-Tech Mould (Thailand) Co Ltd, with effect from July 31.
H&LM High-Tech Mould is a company incorporated in Thailand and principally engaged in the manufacturing of metal parts for electronic and metal surface treatment.
Located at the Bangpa-in Industrial Estate, Ayuthaya, the factory plant was affected by severe floods from September to December last year, the company said in an announcement to Bursa Malaysia today .
The Board of Directors of the company is of the opinion that it is not commercially feasible for H&LM High-Tech Mould to continue its business operations.
Kumpulan H&L High-Tech said the closure of the business of H&LM High-Tech Mould, will not have any material financial impact on the net assets and earnings of the group for the financial year ending Oct 31, 2012.
This is because the company's contribution to the Group's revenue is not significant.-- BERNAMA
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