MegaChem receives $4.4m insurance payout for July warehouse fire

In total, they have received $12.3m in insurance payouts.

MegaChem Limited received an insurance compensation of $4.4m over a fire incident at its warehouse on Pioneer Road in July 2023.

To date, MegaChem has received a total insurance payout of $12.3m, with the first payment of $1m endowed in October 2023, according to a bourse filing.

The second and third payments of $2m and $4.9m were received in October 2023 and May 2024, respectively.

The insurance proceeds received this financial year are expected to contribute positively to the group’s financial performance for the current financial year ending 31 December 2024.

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