KUALA LUMPUR (Dec 26): Bird's nest processor MyMBN Bhd (KL:MBN) said the government has imposed a temporary suspension on the export of bird's nest products to China following the discovery of the Newcastle disease in Malaysia.

The company was notified of the suspension, which took effect on Wednesday, by the Department of Veterinary Services, said MyMBN in a bourse filing on Thursday.

"This suspension applies to the whole industry for both raw-cleaned edible bird's nest and raw-uncleaned edible bird's nest products," the company said.

It acknowledged the potential financial impact on the company’s performance, adding that it is implementing measures to mitigate any adverse effects, including the redistribution of sales focus to the existing alternate export market of Vietnam and the local market.

MyMBN saw its net loss shrink to RM896,000 for the third quarter ended Sept 30, 2024 (3QFY2024) from RM1.57 million a year ago, while revenue rose 32.6% to RM11.47 million from RM8.65 million.

For the first nine months of FY2024, MyMBN posted a net loss of RM343,000 compared to a net profit of RM1.48 million for the previous year’s corresponding period, while revenue rose 9.7% to RM54.18 million from RM49.39 million.

In a previous filing, the company said it faced a decrease in demand for bird's nest products in China and locally, causing prices to fall.

Shares of MyMBN closed unchanged at 13 sen on Thursday, giving it a market capitalisation of RM50.18 million. Year-to-date, the ACE-listed stock has fallen 31.6%.