Sunday 19 May 2024
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KUALA LUMPUR (April 23): Comfort Gloves Bhd said there was a fire at one of the glove maker’s compounding areas in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

"The fire outbreak did not result in any death or casualty, and the production line is not affected. Preliminary assessment reveals that the fire incident would not have a material impact on the financials and operations of the group," said Comfort Gloves.

Back in March 2016, Comfort Gloves also reported a fire outbreak at its then newly built three-storey warehouse and packing department in Taiping. There were no deaths, and the production line remained unaffected.

However, the group incurred a loss of RM12.8 million due to lost inventory and buildings, but received an insurance compensation of RM12.1 million, according to the group’s 2017 annual report.

Comfort Gloves shares closed up half a sen or 1.22% at 41.5 sen on Tuesday, valuing the group at RM241.92 million. The stock has fallen 11.7% since the beginning of the year.

Note: The article has been amended for accuracy. 

Edited ByS Kanagaraju
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