The Nikko Electronics ceased its Penang factory operation in Prai, Penang shown the inefficiency of Pakatan Rakyat Penang state government.
Apart from Malaysia, the company also has operation in United States, China Japan, France, Netherlands, Belgium, Italy, United Kingdom, Denmark and other countries, mainly in Europe.
Nikko Electronics, which ceased its Penang factory operation in Prai, Penang July 1st, 2008 operation, terminating the service of its 950 employees without notice. No compensation plan has been disclosed for the retrenched staff, if any, and this leaves the workers pondering about their wages and benefits.
Nikko, which is listed in the main board of Bursa Malaysia, decided to close its Penang operation after going through profitless years, and faced with increasing operation cost as well as decline in product demand.
The company produced wireless controlled toys, and has been operating the Penang factory for almost 20 years
Nikko has been losing money for 3 consecutive years, and increasing cost of operation as well as a slump in demand forced the company to close shop.
Apart from Malaysia, the company also has operation in United States, China Japan, France, Netherlands, Belgium, Italy, United Kingdom, Denmark and other countries, mainly in Europe.
Nikko Electronics, which ceased its Penang factory operation in Prai, Penang July 1st, 2008 operation, terminating the service of its 950 employees without notice. No compensation plan has been disclosed for the retrenched staff, if any, and this leaves the workers pondering about their wages and benefits.
Nikko, which is listed in the main board of Bursa Malaysia, decided to close its Penang operation after going through profitless years, and faced with increasing operation cost as well as decline in product demand.
The company produced wireless controlled toys, and has been operating the Penang factory for almost 20 years
Nikko has been losing money for 3 consecutive years, and increasing cost of operation as well as a slump in demand forced the company to close shop.
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1 comments:
The impication of Nikko Electronics ceased its Penang factory operation in Prai is the strong no confidence signal sent to state government.
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