Techna-X to temporarily cease metallurgical coke ops

Executive chairman Tunku Naquiyuddin Tuanku Ja’afar said the board’s decision to temporary cease the business was an attempt to safeguard its shareholders’ value and to preserve the financial position of the group from deterioration further pending the completion of the proposed disposal of the metallurgical coke business

KUALA LUMPUR: Techna-X Bhd, which has been building up its energy storage and digital transformation businesses, will temporarily cease its loss-making metallurgical coke business operations by Dec 31, 2021.

The company said wholly-owned Linyi Yehua Coking Co had decided to suspend its coke operations until such time when the business improved and a clearer visibility on the way forward could be established.