Manufacturing firm Miyoshi will soon lose a "major project" from key customer in the Philippines and the company is warning that the hit on its earnings per share for the next financial year is estimated at 48.5%.
The customer, which wasn’t named, plans to consolidate its production. Miyoshi received the notice from this customer on Sept 7 that it will delist its registered activity with the Philippines Economic Zone effective from Nov 30.
“Based on preliminary assessment, the discontinuing project is one-off and will affect approximately 18.4% of revenue from subsidiary in the Philippines,” says Miyoshi.
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