Falling electronics exports and rising retrenchments could soon drag the trade-reliant city-state into recession
Ly Chong, chief operating officer at Hybrionic Pte Ltd, a Singaporean hybrid microcircuit producer which employs nearly 300 people, says his business has been “drastically” impacted by the US-China trade war.
The company builds electronic circuits and modules used in automobiles, healthcare devices such as hearing aids and telecommunication electronics. Ninety-five percent of the firm’s products are exported to the US market but its supply chain is linked to China.
“Because of the trade war and our end-customers, we were asked to hold back our shipments of an automotive product that represented 40% of our total sales,” Chong told Asia Times in an interview.
That product, Chong said, has traditionally been sent by his firm to China for assembly into a module which is then shipped to Mexico and the US. Sales volumes of the device have recently drop by some 60% because of US tariffs, he said.
Nile Bowie is a writer and journalist with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.
Ly Chong, chief operating officer at Hybrionic Pte Ltd, a Singaporean hybrid microcircuit producer which employs nearly 300 people, says his business has been “drastically” impacted by the US-China trade war.
The company builds electronic circuits and modules used in automobiles, healthcare devices such as hearing aids and telecommunication electronics. Ninety-five percent of the firm’s products are exported to the US market but its supply chain is linked to China.
“Because of the trade war and our end-customers, we were asked to hold back our shipments of an automotive product that represented 40% of our total sales,” Chong told Asia Times in an interview.
That product, Chong said, has traditionally been sent by his firm to China for assembly into a module which is then shipped to Mexico and the US. Sales volumes of the device have recently drop by some 60% because of US tariffs, he said.
Read the full story at Asia Times.
