KUALA LUMPUR (June 9): Greatech Technology Bhd said its earnings will not be affected by issues faced by its client Lordstown Motors Corp, which reportedly will not be able to commence full commercial production and there are doubts over whether it could continue as a going concern through the end of the year. He said that Greatech has communicated with Lordstown Motors, and that the latter said it would try to raise funds for commercial production. "Investors have oversold as they are looking only at the Lordstown issue at the moment. At 3.19pm, Greatech was down 50 sen or 8.6% at RM5.30, translating into a market capitalisation of RM6.64 billion. Read also:Greatech down 10.34% following report on snafu in Lordstown Motors Corp commercial production

Source: The Edge Markets June 09, 2021 08:03 UTC