KUALA LUMPUR (Sept 11): PT Resources Holdings Bhd (KL:PTRB) said a fire incident occurred at its coconut processing facility in Fuqing City, China on Monday (Sept 8).
The fire incident did not cause any casualties or injuries to its staff, the frozen seafood producer said in its filing.
The facility is under its wholly owned subsidiary Fujian HJS International Holdings Co Ltd.
The group said Fujian HJS is unable to assess if there is any damage to its processing facility and to determine the financial and operational impact due to the fire incident, amid the ongoing investigation into the cause of the fire incident.
“To mitigate the operational impact, Fujian HJS is outsourcing the coconut processing operations to a manufacturer in the vicinity,” it added.
While China is a key market for PT Resources with over 40% of revenue generated in the country, the coconut processing facility was only set up in June, which cost it RM17 million based on its past filing.
PT Resources said it will make further announcements on the actual losses incurred by Fujian HJS from the fire incident upon completion of the investigations and assessment by the authorities and the company.
PT Resources, listed in 2022, is principally involved in the processing and trading of frozen and dried seafood products as well as retail trading of other products.
PT Resources’ share price closed down half a sen or 1.75% to 28 sen, bringing the group a market capitalisation of RM150 million. Over the past one year, the stock has fallen 50%.