Notion VTec shares hit limit-down after fire incident at manufacturing plant in Klang

PETALING JAYA: A fire broke out at Notion VTec Bhd's main manufacturing plant in Klang at about 2pm today.

Its shares went down sharply after the fire incident, hitting limit-down with a steep decline of 30 sen or 31.3% to 66 sen.

The counter fell 26 sen or 27.1% on some 36.7 million traded before being suspended at 3.42pm.

Notion VTec said the affected plant belongs to its wholly owned subsidiary Notion Venture Sdn Bhd, but the fire incident also impacted other subsidiaries, namely Kaiten Precision Sdn Bhd and Autic Mekki Sdn Bhd.

It noted that the fire department and insurance representatives are still conducting investigation to ascertain the cause of the fire.

"All the assets are adequately covered by insurance. Sufficient insurance coverage has been taken for consequential business loss."

Notion VTec said it has yet to ascertain the full financial and operational impact and consequences of the incident.

"The board will make further announcement whenever there is new development as well as any significant financial impact on the insurance claim."