Glasgow School of Art: Repair bill may cost up to £35m

The fire destroyed the library and much of the students' work

The final cost of repairing Glasgow School of Art's fire-damaged Mackintosh building is likely to be between £20m and £35m, MSPs have been told. The art school's director, Professor Tom Inns, told Holyrood's education and culture committee that the restoration would probably take up to four years.

He said the cost could be met by government, insurance and donations. Meanwhile, a £750,000 fund will be made available to students to recreate works they lost in last month's fire. The blaze broke out in the world-famous Mackintosh building on Friday 23 May.

Library destroyed

Students were putting the final touches to their end-of-year projects at the time. The library was destroyed, but the Mackintosh Museum and the archives survived. Firefighters managed to save about 90% of the iconic structure and about 70% of the contents. Many degree students, however, lost their work.

Members of the Scottish parliament's education and culture committee held a special one-off session on Tuesday to examine how the school, which was designed by Charles Rennie Mackintosh more than a century ago, will be restored.

The building was badly damaged but most of its structure and contents were saved

Fire damage incise the Mackintosh building

The building was badly damaged but most of its structure and contents were saved Prof Inns told MSPs: "We have been in discussion with the insurance company and a team of people appointed to deal with the immediate securing of the building, and the estimates are probably somewhere between £20-£35m.

"In terms of the actual accident - or the incident - itself that is still under investigation by the police and the fire service so they still haven't reported back on that. "We have a good sense of what actually happened but there's certain details of that which are still unknown, and we will have to reflect on what actually happened with that particular incident. "It will take 12 to 18 months to reopen the east wing of the building and 36 to 48 months to reopen the west wing, Mr Inns said.

'Complex case'

He is "reasonably confident" they will be able to fully fund the restoration, he added. "I say reasonably confident because there are unknowns in that because we have an insurance policy on the building - the building is well insured," he said.

"The insurance will cover certain things, it won't cover other things. Obviously it's a very complex insurance case. "We will have to raise funds so we will be setting up a fundraising campaign, so I think if all of these things come together we will be able to cover the cost of that restoration.

He added: "We originally marked the fund at £1m, but bear in mind we marked that up on the Saturday after the fire but that was before we sat down and actually worked it out.

"We're going to formally launch the fund on Wednesday and we're looking to raise probably between £10m-£20m depending on what we will actually be needing to be reasonably comfortable with the situation. "We've had some very generous contributions from individuals, one or two pledges from trusts and organisations but it's a bit too early to say exactly what that is.

"But I think we can be reasonably confident that if we worked that well and effectively we would be able to raise the funding." Prof Inns said the Scottish government had said it would match-fund up to £5m to support the restoration, but there had been no more detail from the UK government.

Conservative MSP Mary Scanlon said the UK government had said it was waiting for detail before it would make a contribution "in the millions if necessary". Prof Inns said that the fire broke out as the deadline approached for students assessments.

Source by : http://www.bbc.com/

Malaysia Fire Consequential Loss Insurance

BASIC COVER 

The fire consequential loss covers loss of Gross Profit, Increase in Cost of Working, Wages, as a consequence of business interruption at the business premise from fire or any other insured peril.

INTEREST INSURED

Profits/revenue/rental of the business, expenditure which continue to be incurred and increase in cost of working in consequence of the occurrence of fire or any perils of the fire policy.

PREMIUM & EXTENSIONS

The basic rate is calculated based on the rate prescribed from Fire Material Damage policy and the premium is affected by the amount of Sum Insured derived from Gross Revenue of a company and the selected Indemnity Period.

The policy can be extended to cover the below with an additional premium:

• Public Utilities
• Customer / Suppliers Extension
• Prevention of Access

Fire Insurance

This policy provides you with coverage for your property against loss or damage by fire, lightning and domestic gas explosion. For an additional premium, it can be extended to cover the following perils namely aircraft damage, impact damage, explosion, storm & tempest, flood, bursting or overflowing of water tanks or pipes, subsidence & landslip, earthquake and volcanic eruption, riot, strike and malicious damage, spontaneous combustion, sprinkler leakage, bush/lolling fire, damage by falling trees or branches and objects.

Fire Consequential Loss

This policy provides you with coverage for loss of profits, revenue, rental, standing charges, wages or salaries on payroll basis and increase in cost of working due to business interruption as a result of fire and/or other extended perils.

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As opportunities in the business industry grow, so do the potential risks and liabilities. It can be quite a challenge to even just identify all the risks that might impact your business. To ensure that you are adequately protected, we offer flexible insurance packages that can be tailor-made to suit your insurance needs as a business owner.

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Malaysia Fire Insurance

BASIC COVER

The basic fire policy covers loss of or damage to residential or commercial building, furniture, fixtures and fittings caused by or arising from:

Damage by fire & lightning

• Damage by explosions of domestic boiler or domestic gas cylinder not forming part of a gas work
• Damage by water or other extinguishing agents used to put out the fire
• Damage resulting from gaining access to a fire
• Smoke damages caused by fire

INTEREST INSURED

Items that can be insured are:

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PREMIUM & EXTENSIONS

The basic premium is calculated based on a standard fire tariff rate prescribed by Persatuan Insurans Am Malaysia (PIAM) and is affected by the class of construction of the building, trade carried out at the premise and sum insured.

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19 Perodua Vehicles Destroyed in Evening Flame at Malacca

Fire damage and burnts the cars in the compound
that store Produa vehicle at Malacca

Fire broke out at a compound to store Perodua vehicles in Jalan Mufti Hj Khalil Bukit Palah, Malacca. In this incident, the fire already destroying 19 units of new car out of more 200 new and used cars kept there. When the firemen arrived, the blaze was at its highest stage and they faced problems to extinguish the flames as the cars were parked very close to one another, state Fire and Rescue deputy superintendent (operation) Kamarul­zaman Mohd Din told reporters. 

He believed the fire started from one of the used cars. He said they received a 999 call at 6.54pm on Sunday. Four fire engines with 19 firemen from the Kubu and Bukit Katil stations were despatched and arrived at the scene 11 minutes later. 

The firefighters managed to control the blaze at 7.15pm and completely doused the flames 10 minutes later, he said, adding that about 185 new vehicles were saved.The department is investigating the cause of the fire.

Source from : The Star Online

Fire Razes Factory, Short Circuit Results in RM 2 millions Losses

A fire engulfed a furniture factory at the Bukit Pasir Industrial Area at Muar, Johor resulting in losses amounting to RM2 millions. The fire is believed to have triggered off by a short-circuit. Factory worker Nurah Surian, 51, said that she had just arrived at work about 8.45am when she heard her co-workers screaming that there was a fire. “It started out small but we could not do much as the flames spread so fast and soon the whole inside of the building was on fire,” she said when met at the scene. Nurah said that minutes later officials from the Fire and Rescue Department arrived and everyone was told to vacate the area immediately. Another worker Salmiah Sargol, 57, who has been working in the factory for more than six years said that she was so frightened that the fire would spread to the neighbouring factories.

Challenging task: Fire and Rescue Department officials 
in the midst of dousing the flames at a furniture factory 
at the Bukit Pasir Industrial Area in Muar, Johor.

“It was scary to see everything destroyed in seconds and luckily no one was hurt in the incident,” she said. Factory owner Tan Chen Gee, 41, said that his Chinese New Year celebrations had come to an abrupt end as he estimated losses to total about RM 2 millions. “A lot of the furniture was destroyed but the most expensive items that were ruined are the machines that we use to cut the wood pieces and press them together,” he said. Meanwhile, a spokesperson from the Fire and Rescue Department said that they received a distress call at around 9.08am about the fire. A total of three fire engines and 14 officials from Muar and Bukir Gambir were deployed to the scene

Resource from : The Star Online

Fire Destroys Three Shop Houses in Negri Sembilan

Fire incidents happened and destroyed three shop houses in the Dioh industrial area at 2am on Sunday at Kuala Pilah, Negeri Sembilan. Kuala Pilah Fire Station chief Jaafar Yusoff said a Public Works Department (PWD) store was also partly ruined. 

He also did mentioned that the fire destroyed a car workshop, furniture shop and a tyre shop. They managed to make the fire under control in 20 minutes and prevent the flame from spreading to six other shop houses nearby. The firemen from Kuala Pilah were assisted by 11 firemen from the Bahau and Seremban 2 stations who arrived in two fire engines. 

Jaafar believed the fire started in the furniture shop and quickly spread due to the strong winds. The losses were estimated aroundt RM480,000 and no injuries were reported when this incident happened.

Source from : The Star Online

RM250,000 up in Smoke during Store Fire

An estimated RM250,000 was lost in a fire that gutted the store room of a Petronas Mesra Store at Precinct 9 , Putrajaya. Accorfing Putrajaya Fire and Rescue Department chief Muhammad Hafidz Yaacob said there were 20 fire-fighters and two fire engines who dispatched to the scene after a call was received at 9.34 am. 

Furthermore, he said that the first batch of respondent arrived at the scene three minutes later. They managed to put down the flames by 10.33am and the fire  was successfully extinguished by 10.41am. Basically less than 10 minutes all the fire were put down by the fire-fighters. In addition, he also said a forensics team would be at the scene in the evening to conduct further investigations into the incident. 

During the incident happened, no one was hurt and everyone were under control.

Source from : The Star Online

CSL Unable to Gauge Loss Due to Fire at Plant

PETALING JAYA: China Stationery Ltd (CSL) is still unable to ascertain the total damage caused by the fire at its plant in Fujian province early last month. 

Although the affected area made up 40% of its plants’ total combined production capacity for the financial year ended Dec 31 (FY13), its management and insurance representatives were unable to access the scene to verify the damage as the scene where the fire took place had been sealed off by the police,it told Bursa Malaysia.

“The external auditors of CSL are unable to proceed with their planned schedule to obtain walk-in bank confirmations, sight of fixed assets, as well as complete their audit fieldwork for the company’s subsidiaries in China, in which the procedures are crucial for them to form and issue an audit opinion on the company and the group’s financial statements for FY13.”

CSL said Bursa had extended the timeline for it to submit its audited financial statements for FY13 from April 30 to June 30. It was also granted extension for the announcement of its first-quarter results for the period ended March31, from the due date of May 31 to July 31, subject to the monthly updates on the progress of the police investigation report and steps to be taken to issue the financial statements.The stock has plunged 7 sen to 13 sen since it announced the incident last month.

Sources from : The Star Online