OTHERS GUH HOLDINGS BERHAD ("GUH" or "COMPANY") GUH Circuit Industry (Suzhou) Co., Ltd.
GUH HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | GUH HOLDINGS BERHAD ("GUH" or "COMPANY") GUH Circuit Industry (Suzhou) Co., Ltd. |
Further to the announcements made on the 30 June, 28 September and 6 October 2020, the Company wishes to announce that GUH Circuit Industry (Suzhou) Co., Ltd. (“GUH SZ”), a wholly-owned subsidiary of the Company involved in the manufacturing of printed circuit boards in Suzhou New District, Province of Jiangsu, China is facing business and operational risks as a consequence arising from the local authorities’ prior announcements that it will seek to re-zone the industrial area on which GUH SZ is situated into commercial and/or residential status.
The Company has previously announced a workers’ strike which has almost been fully resolved. While GUH SZ has been able to resume operations in a limited capacity, the said strike has affected the morale and confidence of employees and customers, some of whom have cancelled orders from GUH SZ.
As the uncertainty surrounding the future of the industrial area poses significant risk to the sustainability of GUH SZ’s business and operations, the Company has been studying options to mitigate the likely negative impact and will make further announcements pertaining to the above on any significant events arising.
This announcement is dated 22 October 2020. |
Announcement Info
Company Name | GUH HOLDINGS BERHAD |
Stock Name | GUH |
Date Announced | 22 Oct 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-22102020-00060 |