KUALA LUMPUR (Jan 25): Dominant Enterprise Bhd’s share price fell more than 4% at Bursa Malaysia afternoon trades today after the wood-products manufacturer said there was a fire outbreak at its factory and warehouse in Muar, Johor, on Saturday (Jan 23).

At 2:33pm today, Dominant’s share price fell 3.5 sen or 4.67% to 71.5 sen for a market value of about RM118.15 million based on the company’s latest-reported number of issued shares at 165.24 million.

Dominant’s share trade resumed after transactions were halted between 9am and 10am today in conjunction with the fire outbreak announcement. 

In filings to Bursa Malaysia today, Dominant, which did not specify the cause of the fire outbreak, said the company’s management is unable to determine now the actual losses to be incurred by the firm from the fire incident at the factory and warehouse located along Jalan Raja within the Kawasan Perindustrian Bukit Pasir.

"The incident occurred at dawn on Saturday, Jan 23, 2021. The management has lodged a report with the police and the insurance company on the occurrence,” Dominant said.

Dominant said further announcements will be made on the actual losses incurred by the company from the fire outbreak upon completion of the investigation and assessment by the company’s internal team, insurance company and authorities concerned.