Cheung Woh Technologies names new CEO as Q2 earnings slump 87%

LAW Kung Ying, the chief executive of Mainboard-listed Cheung Woh Technologies, will retire from the top job on Feb 28, 2020 due to health reasons. He will be replaced by his brother Law Kung Ming.

The company's turnover for the quarter fell 44 per cent to S$12.9 million, due to lower sales of certain HDD components, namely, baseplates, air-combs and VCM plates. Its precision metal stamping business also faced lower customer demand.

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Duty Free Q2 earnings fall 60% on lower margins, weaker RMMAINBOARD-LISTED Duty Free International (DFI) suffered a 60 per cent fall in earnings to RM4.9 million (S$1.6 million) for Q2 ended August, hit by a narrower profit margin and lower net gain in foreign exchange. Read more at The Business Times.
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