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On 2 December 2022, the board of directors of Plastico Limited, a domestic plastic packaging manufacturer, took a decision to abandon its Mobeni plastic packet

On 2 December 2022, the board of directors of Plastico Limited, a domestic plastic packaging manufacturer, took a decision to abandon its Mobeni plastic packet factory. The company manufactures Zip lock type plastic bags in all sizes. The decision to shut down the factory was as a result of the continuing operating losses of the plant. The decision to close was communicated to the employees and announced in the financial press on 2 December 2022. Plastico Limited has three other South African packaging manufacturing plants, two of which manufacture the same product as the Mobeni plant. The Mobeni factory closed on 31 January 2023. Required Advise the directors of Plastico Limited on how to account for these matters in their 2022 annual financial statements

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