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NewsLatitude resumes operations in Vietnam after loss of 8 production days
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Latitude resumes operations in Vietnam after loss of 8 production days
by Cals Fri 23 May 2014, 00:22
| Latitude resumes operations in Vietnam after loss of 8 production days |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Thursday, 22 May 2014 19:34 KUALA LUMPUR (May 22): Latitude Tree Holdings Bhd resumed operations in Vietnam today after losing eight production days amid the anti-Beijing riots that have raged through Vietnam. In a statement to Bursa Malaysia, Latitude said its furniture manufacturing facilities of subsidiary Latitude Tree Vietnam Joint Stock Company have resumed operations today. “We have informed customers of the delays in delivery and rescheduling of delivery has been made,” said Latitude. The firm said insurance adjusters are in the process of assessing the losses arising from the damages. “Claims will be made against loss of business interruption and other damages,” said Latitude. The firm said it does not expect the losses to have any material impact to the financial earnings for the financial year ending Jun 30, 2014. It said asset losses arising from the incident were limited to office equipment and computers, glass doors and windows of the main office building and a small portion of the packing section. Last week, the riots left one Chinese worker dead in protest against Beijing. |
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