Megachem Receives Additional SG$4.4 Million Insurance Payment for Warehouse Fire

MT Newswires

2024-08-26

Megachem (SGX:5DS) has disclosed an additional insurance compensation of SG$4.4 million related to the fire incident at its warehouse on Pioneer Road, according to a Friday filing on the Singapore Exchange.

This latest payment brings the total insurance compensation received to SG$12.3 million, following prior payments of SG$1 million in October 2023, SG$2 million in December 2023, and SG$4.9 million in May 2024.

The insurance proceeds are expected to have a positive impact on the group's financial performance for the year ending Dec. 31.

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