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LY Corp to resume operations, but unclear of amount of loss forecasted for 1H21

Lim Hui Jie
Lim Hui Jie • 2 min read
LY Corp to resume operations, but unclear of amount of loss forecasted for 1H21
LY Corp has resumed operations after obtaining approval from Malaysian authorities, but has forecasted a loss for 1H21.
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Furniture company LY Corp will resume operations in Malaysia after receiving approvals from the relevant authorities in Malaysia.

This comes after the group was forced to stop operations on June 1, following the full movement control order (FMCO) in Malaysia.

As at Aug 30, wholly-owned subsidiary LY Furniture, is allowed to operate its factories at 60% capacity with effect from Aug 27, with 40% fully vaccinated staff.

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