AuMake assures investors that business won’t be rocked financially by Coronavirus
As China enforces greater travel restrictions to quell fears over the spread of the deadly coronavirus, daigou retailer AuMake has moved to assure investors that it is in a good position financially to handle any potential disruption to business.
The traditionally daigou-focused retailer, which recently began targeting Asian tourists in Australia, said its management team is experienced in managing disruptions in the travel industry, most notably having dealt with the SARS epidemic in 2003.
Over the weekend, China’s Ministry of Culture and Tourism instructed Chinese travel agents to suspend all tour groups and the sale of flight and hotel packages overseas from Monday January 27.
“Management is receiving up-to-date, accurate information as it comes to hand via relationships developed over the last 20 years with over 50 travel agents in China, placing the Company in a position to manage the situation adequately,” the company said in a statement to the ASX on Tuesday.
The retailer said that even in the event of significant disruption, it is confident of its ability to meet “all financial commitments for the foreseeable future due to its strong cash position and diversified customer base”.
AuMake said that its top priority now is providing a safe environment for staff and customers. Health and safety procedures were implemented when the company first became aware of coronavirus developments in China.
AAP reported on Tuesday that more than 400 people have registered for help to get out of the Chinese province under lockdown because of the virus.
There are currently five confirmed cases of the virus in Australia.