Ellipsiz (SGX:BIX) said the development of its commercial egg farm by ISE Foods will be delayed, according to a Friday filing on the Singapore Exchange.
The delay stems from several challenges, including the impact of COVID-19, supply chain disruptions, inflation, and the need for improved biosecurity measures.
The company cited increased development costs and the need for additional funding and land allocation as factors behind the setback.
ISE Foods is negotiating with authorities regarding these issues, and a re-evaluation of the project's viability may be necessary.
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