Temporary Halt Of Bird's Nest Exports To China
Type | Announcement |
Subject | OTHERS |
Description | MYMBN BERHAD (“MYMBN” OR THE “COMPANY”) TEMPORARY HALT OF BIRD'S NEST EXPORTS TO CHINA |
The Board of Directors of MYMBN (“Board”) wishes to announce that the Company had on 25 December 2024 received a notice from the Department of Veterinary Services (DVS), in Malaysia for the temporary suspension of exportation of Bird’s Nest Products to China effective from 25 December 2024. This is due to the occurrence of Newcastle Disease Virus in Malaysia reported to World Organisation for Animal Health. This suspension applies to the whole industry for both Raw-Cleaned Edible Bird's Nest and Raw-Uncleaned Edible Bird's Nest Products.
The Board acknowledges the potential financial impact of this situation on the Company’s performance and is proactively implementing measures to mitigate any adverse effects. These measures include but not limited to:
1. Redistribution of sales focus to existing alternate export market of Vietnam and local market. 2. Engaging with relevant authorities to monitor developments and expedite the resumption of exports. 3. Adjusting operational strategies to manage inventory and sustain business continuity during this period.
Further announcements on any material developments of the suspension will be made in due course when required.
This Announcement is dated 26 December 2024. |
Announcement Info
Company Name | MYMBN BERHAD |
Stock Name | MBN |
Date Announced | 26 Dec 2024 |
Category | General Announcement for PLC |
Reference Number | GA1-26122024-00029 |