Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (May 25): Notion VTec Bhd's subsidiary Notion Venture Sdn Bhd has received a payment of RM20 million as part of the insurance claim for a fire at its main manufacturing plant in Klang, Selangor in October last year.

In a filing to Bursa Malaysia this evening, Notion VTec said the payment received was the remaining settlement of its third interim claim totalling RM50 million.

"As of to-date, Notion Venture has received a cumulative amount of RM80 million from the insurers being partial settlement for the material fire loss," the group said.

In an Oct 23 filing last year, Notion VTec had said the preliminary estimate of the loss from the fire was about RM150 million to RM200 million.

At 5pm today, Notion VTec shares closed up 4 sen or 7.1% to 60 sen, for a market capitalisation of RM198 million.

 

      Print
      Text Size
      Share