Sunday 19 May 2024
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KUALA LUMPUR (Dec 14): Evergreen Fibreboard Bhd said a fire incident at its unit’s wood fibre storage bin in Johor will not have any significant impact on the group’s financial performance for the current financial year ending Dec 31, 2021. 

The fire at Evergreen Fibreboard (JB) Sdn Bhd (EJB)’s  premises in Segamat occurred on Saturday (Dec 11), with two casualties reported.

“EJB's Segamat operations contribute less than 5% to the group's turnover. Potential profit foregone from the downtime is estimated to be around RM100,000, based on the duration of downtime expected for repair works,” Evergreen said on in a bourse filing on Tuesday (Dec 14). 

Aside from the storage bin, the fire did not damage other sections of EJB's machinery which are currently in operation, noted the company. 

“As the cause of the fire in the wood fibre storage bin is still under investigation by the Fire Brigade's forensic department, management will commence repair works immediately after the Fire Brigade complete their investigation. It is estimated that the cost of repairs will not exceed RM500,000,” the group said.

Shares of Evergreen Fibreboard closed unchanged at 47.5 sen on Tuesday, valuing the group at RM402.05 million. 

Edited ByS Kanagaraju
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