Quick Note - Inari Amertron (INRI MK) (Buy) - Fire incident at the Philippines CK1 facility

Research evidence excerpt

Quick Note - Inari Amertron (INRI MK) (Buy) - Fire incident at the Philippines CK1 facility

Global Markets Research

Inari Amertron INAR.KL INRI MK 12 May 2026

EQUITY: TECHNOLOGY

RatingFire incident at the Philippines CK1 facility Remains Buy

Target price MYR 2.08 RemainsQuick Note

Closing price MYR 1.91 11 May 2026Fire incident reported at CK1 facility; losses estimated at ~USD5mn

Inari in its officialBursarelease disclosed today that a fire broke out at its manufacturing

facility in Clark Philippines on 10 May, at around 2:30 pm. The blaze was brought under

control within an hour and is estimated to have caused losses of up to ~USD5mn. Research Analysts

Management further communicated that the fire affected a section of Plant CK1, operated Malaysia Technology

under by its wholly-owned subsidiary, Amertron Incorporated in Philippines (AIP) Heng Siong Kong - NSM

(unlisted). The damage covered ~12.5k sq.ft., representing ~10% of the total hengsiong.kong@nomura.com

manufacturing space of 125k sq.ft. at CK1. +603 2027 6894

Short circuit triggers CK1 shutdown temporarily; CK2 remains operational Research Associates

Early investigations point to a wiring short circuit in the ceiling as the likely cause of the fire Malaysia Technology

breakout. Fortunately, no injuries or fatalities were reported post the incident. Shubham Kejriwal - NSFSPL

Management disclosed that the affected section of CK1 has since been shut down for

safety inspections and clean-up works, whereas operations in the non-affected areas are

temporarily suspended due to power shutdown mandated by authorities and are

anticipated to resume operations pending approvals and installation of dedicated power

lines. On a positive note, AIP’s second facility, Plant CK2 spanning 83k sq.ft. in