KUALA LUMPUR (Jan 5): Notion VTec Bhd said it has received an advance claim payment of RM15 million from its insurance company for a fire that broke out at its main manufacturing plant in Klang, Selangor on Oct 20 last year.

In a filing with Bursa Malaysia today, the precision parts manufacturer said the insurers’ investigations into the loss or damage to building, machinery and stocks by the fire are still in progress.

However, the insurers today made the advance claim payment to its wholly-owned subsidiary, Notion Venture Sdn Bhd.

"The board will make further announcements whenever there is new development, as well as any significant financial impact on the insurance claim," it added.

On Oct 23, 2017, Notion VTec had estimated the damage caused by the fire to be between RM150 million and RM200 million.

Notion VTec shares closed 0.5 sen or 0.78% lower at 64 sen today, with 2.15 million shares done, bringing a market capitalisation of RM210.23 million.