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KUALA LUMPUR (April 6): Pintaras Jaya Bhd said its construction sites in Singapore will be temporarily closed, following the Singapore government’s announcement of the closure of all workplaces from April 7 to May 4, except for those in essential services, due to the Covid-19 outbreak.
In a filing with the bourse, the company said its Singapore office will also be closed and that all its office staff on the island state will work from home.
“We have taken the necessary steps of off-hiring all our site rental equipment and tools to reduce expenditure. The Singapore government has also announced the waiver of worker levies, as well as wage subsidies for the period.
“Pintaras Jaya wishes to reassure shareholders that both our tender and order book numbers in Singapore remain robust and that our site activities will be able to recommence immediately, when the closure period expires,” it said.
The group added that the Covid-19 pandemic will have an adverse impact on its business, although it is “cautiously optimistic” that it will be able to emerge “substantially unscathed”, given its strong financial position.
Pintaras Jaya’s share price closed unchanged at RM2.49 today, giving it a market capitalisation of RM413 million.
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