KUALA LUMPUR, Dec 17 -- The world's third largest tin producer, Malaysia Smelting Corporation Bhd (MSC) will be lifting its force majeure on Dec 20, 2021.
The force majeure has been in force since June 7, 2021 due to the COVID-19 pandemic.
In a statement today, MSC said after taking cognisance of the improving and stabilising COVID-19 related situation in Malaysia, recent relevant government action and announcement in relation thereto, the company is now looking forward to returning to the normal operations.
“However, it will take us a while to return to pre-pandemic operations level. We are looking forward to resuming pre-pandemic activity levels and beyond,” it said.
MSC has declared force majeure after suspending its tin mining and smelting operations from June 4 until June 14, 2021, in line with the government’s implementation of the total lockdown across the country to curb the spread of COVID-19 infections.
A force majeure declaration aims to free parties in a contract from their obligations due to extraordinary circumstances.
Earlier in a Bursa Malaysia filing, MSC said it had issued a notice of force majeure to its customers as the disruption in production will lead to a slowdown in the company’s scheduled delivery of tin.
As at 3.30 pm, MSC shares on Bursa Malaysia fell 1.0 sen to RM3.27 with 352,600 shares changing hands.
-- BERNAMA
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