PETALING JAYA: Yoong Onn Corp Bhd
has incurred an estimated loss of RM30mil as a result of the fire that broke out at the Singapore factory and warehouse of its 60%-owned subsidiary, T.C. Homeplus Pte Ltd on May 9.
In a filing with Bursa Malaysia, the home linen and bedding accessories retailer said the loss arose from the damage to property, plant and equipment inventories.
“The aforesaid amount is subject to further verification and finalisation with the insurer and adjuster team.
“As stated in the previous announcement dated May 13, 2025, T.C. Homeplus has insurance coverage of RM23mil for property damage and stock in trade and RM15mil for business interruption of up to six months,” it said.
Yoong Onn added that it would make further announcements when there are new developments on the financial impact and the insurance claims.
