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©dreamstime-thor-jorgen-udvang© Electronics Production | August 20, 2012

Eng Tek receives insurance payout for Thailand flood damage

Eng TeKnologi has received insurance payments for damage suffered during flooding in Thailand last year.

On 7 August, 2012 , the company announced that its wholly owned subsidiary, Engtek (Thailand) Co., Ltd, received an approval for its second partial payment amounting Ringgit Malaysia (“RM”) 11 million. The company also said that ETCL has received a second partial payment earlier than scheduled amounting to RM5.5 million from its insurance company. As of to date, ETCL has received a total of RM10.7 million and is expected to receive the balance of the second partial payment of RM5.3 million from ETCL’s insurer by the end of August 2012. The total insurance partial payments received by both subsidiaries of the Company namely ETCL and Altum Precision Co., Ltd. from both insurance companies amount to equivalent to approximately RM22.7 million.
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September 20 2019 5:48 pm V14.4.1-2