KUALA LUMPUR (June 15): FoundPac Group Bhd (KL:FPGROUP) announced that a fire broke out at a factory in Batu Maung, Penang Sunday (June 14) evening, though no injuries or fatalities were reported.

In a bourse filing, the semiconductor packaging materials manufacturer said the incident occurred at its wholly-owned subsidiary FP Stencil Sdn Bhd’s production facility. FoundPac said the cause of the fire has yet to be determined and investigations are ongoing.

“At this juncture, the board is unable to accurately ascertain the full extent of the damage to the machinery, equipment and other assets at the affected factory, or to determine the resultant financial and operational impact on the group,” said FoundPac in the filing.

To minimise disruption, the group said it has begun redirecting the affected manufacturing processes to approved contract manufacturers while recovery efforts are underway.

Based on its preliminary assessment, the group said it does not expect the incident to have a material impact on the group’s overall operations or financial position.

It added that the subsidiary’s plants, machinery and other assets are insured, while the building is covered under a separate insurance policy held by the property owner.

FP Stencil is principally involved in the manufacture and sale of laser stencils used in semiconductor-related applications.

Shares of FoundPac closed up three sen or 8.1% to 40 sen on Monday, giving it a market capitalisation of RM219.3 million.