KUALA LUMPUR (May 9): Yoong Onn Corp Bhd (KL:YOCB) reported a fire outbreak at its 60%-owned subsidiary TC Homeplus Pte Ltd’s factory and warehouse, which are located in a two-storey industrial building in Singapore.

The incident, which occurred on Friday afternoon, was under control with no human casualties reported, the home linen and bedding accessories retailer said in a filing with Bursa Malaysia.

The group noted that the Singapore Civil Defence Force is conducting operations at the site, and the probe into the cause of the fire is underway.

Yoong Onn has yet to ascertain the full financial and operational impact of the incident, and will provide further updates when new developments arise.

Headquartered in Nilai, Negeri Sembilan, Yoong Onn is an integrated designer, manufacturer, distributor and retailer of home linen, homewares and bedding accessories.

It owns popular foreign-sounding home linen brands — including Jean Perry, Louis Casa, Genova, Sarah Miller, Ann Taylor and Red Danielle — catering for all market segments. Its products include bedsheets, blankets, pillows, bath towels, tablecloths, curtains, rugs, floor mats and lifestyle furniture such as tables and sofas.

As at June 30, 2024, the group was operating 53 retail shops — consisting of 45 fully owned Home’s Harmony retail boutique outlets in Malaysia and Singapore, seven Niki Cains Homes home fashion concept stores and one Home Outlet, its 2024 annual report showed.

Apart from its own retail outlets, Yoong Onn has more than 280 consignment counters nationwide at third-party retail locations.

The group also supplies its bedding and bath linen, as well as other textile-related products, to hotels, clubs, resorts and hospitals.

Yoong Onn shares were untraded on Friday. The counter was last traded at RM1.70 on Thursday, valuing the group at RM269.7 million. Over the past one year, the stock has fallen 31%.