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Infinity Development Holdings Co. Ltd. ( (HK:0640) ) has issued an announcement.
Infinity Development Holdings has addressed shareholder and investor queries about the impact of reported Caesium-137 contamination in Indonesia on its operations, stating that its supply chain and production remain stable with no disruption to deliveries or customer relationships, and that its new plant in Kendal, Central Java, is geographically distant from the affected area and is not expected to be impacted. The company explained that the new Indonesian facility has been designed with a production capacity of 14,000 tons, will ramp up gradually as remaining regulatory approvals are obtained, and is positioned to capitalise on rising domestic demand for casual footwear in Indonesia, particularly as it complements modest fashion trends in the Muslim-majority market, thereby supporting the Group’s regional growth strategy.
More about Infinity Development Holdings Co. Ltd.
Infinity Development Holdings Company Limited is a dual-listed company in Hong Kong and Singapore that operates through a group structure, with manufacturing activities that include footwear production. The Group serves international customers and maintains quality assurance and compliance procedures aligned with applicable international standards, supported by a regional manufacturing footprint that now includes a new plant in Indonesia aimed at serving growing demand in that market.
See more data about 0640 stock on TipRanks’ Stock Analysis page.