Notion Vtec units to ramp up ops to full capacity following MITI’s announcement

Precision components manufacturer Notion Vtec Bhd said its units will ramp up operations to full capacity tomorrow (April 29), following the relaxation of the Movement Control Order announced by the Ministry of International Trade and Industry (MITI) today.

“Subsequent to the meeting of the National Security Council, those economic sectors that were previously approved by MITI to operate during the MCO period are now allowed to ramp up their operations to full capacity starting April 29, 2020.

“Accordingly, the board wishes to announce that both Notion Venture Sdn Bhd and Notion International (M) Sdn Bhd, the wholly-owned subsidiaries of the company that had previously received the approval letters from MITI to operate during the MCO, will ramp up the operations to full capacity effective April 29, 2020,” Notion Vtec said in a stock exchange filing today.

“The company will ensure that the established standard operating procedures are complied with,” it added.

MITI Minister Datuk Seri Mohamed Azmin Ali announced earlier today that those economic sectors permitted to operate during the MCO can ramp up their operations to full capacity, with no restrictions on operating hours, starting tomorrow.

They will, however, be required to adhere to the standard operating procedures or SOP set by the government. Failure to do so will result in the permission granted being revoked immediately, as well as legal action taken, the minister said.

Shares in Notion Vtec closed 3.47% or three sen lower at 83.5 sen, giving it a market capitalisation of RM279.31 million. It saw 9.94 million shares traded.

Source: The Edge Markets