KUALA LUMPUR (Feb 16): Poultry firm Farmiera Bhd (KL:FAMIERA) said a fire incident occurred at its broiler farm in Linggi, Negeri Sembilan, on Saturday (Feb 14).

The incident, which resulted in the loss of three chicken houses with a combined capacity of 100,000 broilers per cycle, is not expected to have a material impact on its operations, the group said in a bourse filing on Monday (Feb 16).

Farmiera, which listed on the ACE Market back in November last year, said it will engage contract farmers to mitigate the production disruption, which is expected to recoup production volume and meet existing market commitments.

“The management of the group is in the process of ascertaining the actual quantum of losses arising from the incident,” it said, noting it has adequate fire and stock insurance coverage in place for the farm in Linggi and is initiating the relevant insurance claims.

No broilers were lost in the incident, Farmiera said, noting there had been no intake of broilers at the time.

Shares in Farmiera were untraded on Monday. The counter was last traded last Friday (Feb 13), when it closed at 22 sen, valuing the group at RM99 million.

It is down 12% compared to its initial public offering price of 25 sen.