Quick take: SKP falls 4% on temporary closure of Johor operations

KUALA LUMPUR: Shares in SKP Resources Bhd fell 4% in early trade Tuesday after announcing that its revenue will be impacted by the temporary closure of its Johor Bahru operations.

The integrated plastics manufacturer shed 4.02%, or nine sen to RM2.15.

SKPRES-C1 fell 4.35%, or one sen to 22 sen, SKPRES-C4 shed 10.53%, or one sen to 8.5 sen while SKPRES-CX fell 2.5 sen to 12.5 sen.

SKP estimated that its sales revenue to be impacted for the FY ending March 31, 2021 due to the temporary shutdown of its Johor Bahru operations caused by Covid-19.

It estimated about 3% of its sales revenue to be reduced as the shutdown – from Jan 16 to 29 – would cause some delay in its delivery schedule for two weeks.

Last Friday, SKP announced as a health precautionary measure to facilitate the Covid-19 screening for its employees, it decided to voluntarily shut down its Johor Bahru operations from Jan 16 to 29.

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