KUALA LUMPUR: Bird's nest processor MYMBN Bhd says there are orders for RM2.50 million to China which it is unable to fulfil due to the temporary suspension.
On Dec 26, MYMBN announced that it had received a notice from Malaysia's Department of Veterinary Services (DVS) about the temporary suspension of bird's nest exports to China, which took effect on Dec 25.
The company said in a Bursa Malaysia filing that the temporary suspension has disrupted its operations, supply chain, and revenue streams linked to the China market, which is one of the company's key export destinations.
"MYMBN is unable to fully quantify the financial impact of the temporary suspension at this juncture as the situation in relation to the suspension remains fluid.
"Regardless, the company is still incurring its monthly overhead cost of about RM92,000 notwithstanding the suspension," it said.
MYMBN is engaging with authorities and diversifying markets to strengthen its presence in alternative markets to mitigate dependency on the China market during this period.
The company noted that it is working with authorities and exploring market diversification to bolster its presence in alternative markets, aiming to reduce reliance on the China market during the time.