Sarine Update on Covid-19 Outbreak in India
Currently no material impact on Group's business activities Sarine Technologies Ltd updates its investing public on the ramifications of the current Covid-19 outbreak in India. The latest outbreak of Covid-19 in India has not yet had any material effect on our business. Though Mumbai, the centre of the polished diamond trade in India, is currently under lockdown, the diamond trade and bourse have been exempted. As for Surat, where the diamond cutting and polishing operations are located, there have not yet been any new official directives pertaining to the diamond industry, beyond the night time curfew, which has been in force from before the current outbreak. The curfew has had little to no effect, as the manufacturers' night shifts typically start before the curfew and end afterwards. The only marginal impact on our business has been the very minor absence (around 5%) of workers who are either ill or in quarantine, having been exposed to sick or possibly sick persons