Notion Vtec turn around from thai flood

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Notion VTEC Bhd's business outlook has turned for the better with a strong recovery in last month's sales to a much higher pre-Thai flood level. In an update to Bursa Malaysia on the impact to the group arising from the floods in Thailand, Notion VTEC said the trend was expected to be upwards for the remainder of the financial year ending Sept 30, 2012 and beyond. It said its Thai unit, Notion Thailand Co Ltd, would recommence operations of anodising and sub-assembly of lens before June 2012. "However, support for the single-lens reflex camera segment will be from the main Klang factory. "As a result, the financial impact of the loss of revenue to the group arising from our affected Thai factory will be minimal as Notion Thailand contributed less than 3 per cent to the group revenue," it said. Notion VTEC said electrical, telecommunication and water supply were fully restored soon after the drying out. The process of insurance claim was still on-going and only expected to be completed by March 2012, it said. It said with the entrance of three new Japanese customers in the hard disk drive (HDD) segment and the ramp up in HDD component sales, the financial year 2012 (FY12) revenue was expected to record double-digit growth over FY11. "The sustainability of this new business is expected to be good as the customers' commitment is assumed to be long term," it said. -- Bernama