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Chasen says no injuries, business as usual after fire scorches Jalan Besut warehouse

Stanislaus Jude Chan
Stanislaus Jude Chan3/11/2020 12:05 AM GMT+08  • 2 min read
Chasen says no injuries, business as usual after fire scorches Jalan Besut warehouse
The fire raged on for nearly eight hours on Monday night.
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SINGAPORE (Mar 10): Chasen Holdings has reported that there have been no injuries or deaths in a fire that engulfed its warehouse at 18 Jalan Besut in western Singapore on Monday night.

The group says the Singapore Civil Defence Force (SCDF) was alerted immediately after the fire broke out at around 8pm on March 9.

The fire raged on for nearly eight hours, before being put out at around 4am on March 10.

The cause of the fire is still being determined, the group said in a regulatory filing after market close on March 10.

The warehouse, which stored packing materials, tools and equipment belonging to the company and its customers, is reported to have been locked when the incident occurred.

The Mainboard-listed company owns subsidiaries dealing in specialist relocation solutions, technical and engineering services, as well as third-party logistics.

These include facilities for the packing and warehousing of sophisticated machinery and equipment for the region’s manufacturing industries.

However, Chasen says the higher valued manufacturing equipment belonging to its customers were stored at separate warehouses located in Jurong Logistics Hub, and not affected by the fire.

Further, the group reports that business operations that were based in 18 Jalan Besut have been moved to other premises belong to the group, and are operating as usual.

It adds that the fire is not expected to have significant financial impact on the subsidiaries involved as the warehouse and its contents are adequately insured.

Chasen had called for a trading halt before market open on March 10.

The counter last closed at 5.7 cents on March 9. Year-to-date, shares in Chasen have fallen 26.9%.

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