The high-precision plastic components maker was responding to the open letter by activist fund Quarz Capital Management to Sunningdale's board, urging it to quantify the total gross and operating loss in Penang, as well as the cost of inefficiencies in maintaining duplicate operations and shifting between Shanghai to Chuzhou.
SINGAPORE (Mar 7): Sunningdale Tech says that the group’s latest manufacturing sites in Chuzhou and Penang are part of its long-term strategy to build a sustainable and profitable business model.
Khoo Boo Hor, executive director and CEO of Sunningdale, says, “Whilst the board does not ignore the share price movement, we believe that our unwavering focus on the fundamentals of our businesses will bring more enduring long-term value accretion to our shareholders.”
