Thursday, 12 April 2012

K-One Technology estimates Ipoh factory fire damage at more than RM13m

KUALA LUMPUR (April 12): K-ONE TECHNOLOGY [] BHD [] said the preliminary estimates from the fire damage at one of its secondary factories in the Silibin Industrial Area in Ipoh could be more than RM13 million, subject to verification.

However, the company said the loss impact was mitigated by insurance coverage.

The company said it had three factories located at different sites within the Silibin Industrial Area, and that the three factories consisted of a main factory and two secondary factories.

It said on Thursday that one of the two secondary factories was gutted by fire in the afternoon of April 10, 2012.

The company said the damage included raw materials, work-in-progress, finished goods, own brand products, components, parts, machines, equipment, tools and building, renovations, fittings, furniture and others.

"The Management has taken immediate action to recover finished goods lost in the fire incident by replacement production in the main factory.

"Hence, we expect to meet all customer deliveries and orders in the quickest time possible," it said.

The company said the root cause of the fire was currently being investigated by the company and relevant authorities.

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