Blame it on higher costs.
Chung Woh Technologies reported that its net profit dropped 60% to $1.6m in the third quarter, compared to $3.9m in the comparable period last year.
The decline was attributed to higher costs incurred in China, as well as the RMB’s appreciation of the RMB against the SGD.
The group’s revenue increased 2.6% to $25m.
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