PETALING JAYA: Greenyield Bhd
says a fire broke out at part of the factory operated by its 65%-owned subsidiary, Galley Reach Holdings Ltd, in Papua New Guinea on June 28, prompting a temporary suspension of operations at the affected facility.
In a filing with Bursa Malaysia, the company said there were no casualties or injuries resulting from the incident.
Operations at the affected section of the factory have been halted while the relevant authorities conduct investigations into the cause of the fire.
Greenyield said the factory’s assets are adequately insured under an Industrial Special Risks Insurance Policy, which carries a total liability limit of 7.77 million kina (RM7.22mil).
The group is assessing the extent of the damage as well as the financial and operational implications arising from the incident.
Based on its preliminary assessment, the board does not expect the fire to have a material impact on the group’s overall financial position or operations.
Greenyield said it will provide further updates should there be any material developments.
