Tomypak’s unit have sufficient insurance coverage
TOMYPAK Holdings Bhd has reiterated that its wholly-owned subsidiary, Tomypak Flexible Packaging Sdn Bhd, has adequate insurance coverage of up to RM271 million for property damage and stock in trade and RM80 million for business interruption of up to 24 months. In a filing to Bursa Malaysia yesterday, the company said this is in reference to the fire outbreak at its Senai manufacturing plant in Johor Baru which happened at approximately 12.30pm on Dec 19 and was contained at approximately 7am yesterday. — Bernama
Bursa to be ACE Market IPOs’ sole approving authority
BURSA Malaysia Bhd will be the sole approving authority for ACE Market IPOs effective Jan 1, 2022. Securities Commission Malaysia (SC) said the streamlining of the listing process and regulatory framework for the ACE Market is part of the SC’s initiatives under the five-year Capital Market Masterplan 3 to enhance fundraising efficiency for Malaysian corporations at various stages of growth. Under the new regulatory framework, the exchange will become a one-stop centre for all ACE Market IPO approvals. — Bernama
Neogenix to conduct Covid test for VTL
HONG Seng Bhd’s unit Neogenix Sdn Bhd has been appointed by the Johor state to provide medical screening of Covid-19 tests for on- arrival for vaccinated travel lane (VTL) at all domestics’ international gateways and towards the reopening of the border to daily travellers or “Daily Commuting Arrangement”. In a filing to Bursa Malaysia yesterday, the company said it received a letter of appointment from Johor Menteri Besar and that the appointment is for a period of two years with the option for renewal if required.
Flash flood affects Westports’ productivity
WESTPORTS Holdings Bhd said the flash flood that affected Port Klang and some parts of Klang Valley have adversely affected productivity and added some berthing delays. In a filing to Bursa Malaysia yesterday, the company said although the container and conventional facilities of Westports are not affected, some staff were unable to report to work due to travel difficulties. The cumulative effects could contribute to a throughput shortfall that hinders the company from achieving the guided single-digit growth for 2021, Westports said.