2Q18 earnings

Duty Free posts 1.6% increase in 2Q earnings to $4.5 mil

SINGAPORE (Oct 11): Duty Free International (DFI) announced that its 2Q18 earnings increased 1.6% to RM14.1 million ($4.53 million) from RM13.8 million in 2Q17.

Revenue for the three months ended August dropped 5.5% to RM148.3 million compared to RM157.0 million the previous year.

This was due to lower demand from customers in certain products following the implementation of Goods and Services Tax at border outlets and duty free zones from Jan 1.

Cheung Woh sinks to 2Q loss of $5.9 mil on lower revenue

SINGAPORE (Oct 9): Cheung Woh Technologies plunged into losses of $5.9 million on the back of lower revenue for the second quarter ended August, compared to earnings of $1.9 million a year ago.

The manufacturer and supplier of precision HDD components saw its revenue fall 35.4% to $14.0 million in 2Q18, from $21.7 million a year ago.

The lower turnover was mainly attributable to a drop in customers’ demand for air-combs and a transition of phasing in the manufacturing of baseplates.

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