SUPERMX

0.830

+0.005 (+0.6%)

OTHERS Supermax Corporation Berhad ("SCB" or "the Company") - U.S. Customs and Border Protection's Withhold Release Order action on Supermax Group

SUPERMAX CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
Supermax Corporation Berhad ("SCB" or "the Company") 
- U.S. Customs and Border Protection's Withhold Release Order action on Supermax Group

Reference is made to The Edge Markets article titled “US Customs issues seize order on Supermax products on forced labour finding” which appeared on 21 October 2021.  

 

The Company wishes to announce that its U.S. representatives are in touch with the U.S. Customs and Border Protection (CBP) to obtain more clarity and information on the Withhold Release Order (WRO) issued and the required measures going forward. 

 

The Supermax Group had embarked on its undertaking to meet the International Labour Organisation (ILO) standards on migrant workers since 2019.  The process has well started and Supermax is surprised that due consideration has not been given to the fact that corrective steps have started and improvements made to labour welfare.  We will speed up the process to come to meeting the ILO standards.

 

The Company wishes to inform that it had on 11 October 2021 commissioned an independent international consulting firm to conduct an audit into the status of foreign workers in the Supermax Group’s manufacturing facilities focusing on the 11 ILO Forced Labour Indicators.  The audit is currently ongoing.

 

Currently, about 20% of the Supermax Group’s sales go to the US market.  The Group will take steps to divert goods bound for the US to other markets where possible.

 

The Company wishes to inform all its stakeholders that it is taking immediate and necessary steps to address the issue expeditiously.  Updates on further developments will be announced as appropriate.

 

This announcement is dated 21 October 2021.






Announcement Info

Company Name SUPERMAX CORPORATION BERHAD
Stock Name SUPERMX
Date Announced 21 Oct 2021
Category General Announcement for PLC
Reference Number GA1-21102021-00085