The Integrated Micro-Electronics, Inc. (IMI) of Ayala is temporarily suspending work at some of its locations in Luzon because of the enhanced community quarantine that will last for a month. This is to contain the outbreak of COVID-19. The company disclosed that it is implementing a partial shutdown from March 17 to April 13. But, if there are critical business operations in Luzon, it will still apply a skeletal workforce system to address the demand. Almost all big companies are suspending work to comply with the instructions given by the government. It’s not only Ayala that is following the rules.
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IMI also said that the government has allowed export-oriented companies to continue its operation. Thus, the company is working with the units at both local and national levels to find options and explore their ability to keep the production levels appropriate within its factories. IMI said that it will continue to make sure that the health, welfare, and safety of its employees are still monitored to comply with the rules mandated by the government. Based on the guidelines set out by the Joint Force Corona Virus Shield, export-oriented business personnel is allowed to leave their residences during enhanced community quarantine.
Ayala’s IMI is an exporter of electronic materials. Some of the items it exports are electronic sub-assemblies, printed circuit board assembly, box build products, flip-chip assemblies, and enclosure systems. Its factories are located in the United States, the United Kingdom, Philippines, China, Serbia, Mexico, Bulgaria, Japan, Germany, and the Czech Republic. Before the COVID-19 pandemic reached the Philippines, its office in China has shut down in late January already. This was due to the outbreak that hit the country first.
In 2019, IMI has a net loss of $7.78 million. This was a major turnaround from a $47.19 million net profit from 2018. According to the company, this was because of lower revenues from a declining market environment. Apart from IMI, other businesses of big business tycoons have been temporarily closed too due to the lockdown. SM Malls, Ayala Malls, head offices, and other business segments have stopped their operations temporarily to follow the guidelines of the government and to protect their employees from the spreading virus. Every business is affected and we’ll wait for the further announcements regarding the opening of these businesses.