GTI announces suspension of production because of Covid-19
Cambodia Securities Exchange (CSX) listed Grand Twins International (Cambodia) Plc (GTI) announced on Friday that the Ministry of Health and Phnom Penh City Hall instructed it to close its factory until June 20.
More than 200 garment workers had tested positive for Covid-19, the company said in a statement.
“The suspension of the company’s production has a significant impact on the company’s ability to export products to customers in a timely manner and also affects the company’s revenue,” the statement read.
Grand Twins International is the only garment factory listed on the Cambodia Securities Exchange.
The company has traded downwards over the last 30 days with the value of shares dropping more than 6.52 percent from 4,600 riel.
The company’s share price, trading under the ticker “GTI” remained unchanged on Friday after the announcement was released, ending the session at 4,300 riel per share.