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Notion Vtec’s units get nod to operate during MCO

Notion Vtec’s units get nod to operate during MCO

08 Apr 2020

Precision parts manufacturer Notion VTec Bhd’s said its wholly-owned subsidiaries NotionVenture Sdn Bhd and Notion International (M) Sdn Bhd are allowed to operate during the movement control order (MCO) period set by the Ministry of International Trade and Industry (MITI).

Notion VTec said two subsidiaries are allowed to operate within the period but must ensure that only 50% of its workforce is allowed to operate. Also, the subsidiaries must establish a work-from-home system for employees not involved in critical manufacturing activities.

Notion VTec also said the authorities require its subsidiaries to wholly meet the local market’s needs and requests for products or services.

“The subsidiaries are also required to submit the list of workers involved in the production site during the MCO to MITI and also to ensure that the movement of these workers is restricted from home to [the] subsidiaries’ factory and premises only,” the company said.

In terms of hygiene protocol, the subsidiaries should take daily body temperature readings of its employees at the factory and premises’ entrance. Hand sanitisers must also be provided and the companies must ensure face masks are used by every employee.

Disinfection at the premises must also be carried out before each shift or operation begins, and be done three times a day.

Notion VTec shares closed 4.5 sen or 6% lower at 70.5 sen today, valuing the company at RM235.82 million. The counter saw a spike in trading volume to 24.19 million shares, exceeding its 200-day average trading volume of 7.08 million shares by more than three times.

Year-to-date, the counter has fallen some 27% from 96 sen on Dec 31, 2019.

Source: The Edge Markets

Posted on : 08 April 2020