Trendlines Group not expecting ‘significant impact’ on operations from Israel-Hamas conflict
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Israel declared a state of war on Oct 7 after Palestinian militant group Hamas fired some 2,200 missiles from the Gaza Strip into the country.
PHOTO: EPA-EFE
Sharon See
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SINGAPORE - Start-up incubator Trendlines Group, based in Israel and Singapore, does not anticipate “significant impact” on its operations arising from the armed conflict between Israel and Hamas.
The Catalist-listed group said in a bourse filing on Monday that “limited impact” is expected on some of its portfolio companies’ operations.
The company, which has its headquarters in Misgav Business Park in northern Israel, said its operations are “well distant” from the military activities in the south.
Still, the impact of such an event has ramifications for the whole company, Trendlines said, including staff being called up for army duty.
Israel declared a state of war on Oct 7 after Palestinian militant group Hamas fired some 2,200 missiles from the Gaza Strip into the country. So far, more than 1,100 people have been reported killed in Israel and Gaza.
“Sadly, Israelis are well experienced in dealing with emergency situations and responding quickly to contain terrorist damage,” the company’s chairman and chief executive Todd Dollinger said. “We are doing all we can to help our staff, companies and all in need.”
The company, which invests in and incubates innovation-based medtech and agrifood technology start-ups, said it will continue to monitor the well-being of its staff and the situation.
The counter closed flat at nine cents on Tuesday. THE BUSINESS TIMES
