The remaining 91% of the group's sales are for locally-based customers or non-US destinations, he adds. At present, Frencken's customers are bearing most of the tariffs, if applicable, and there are minimal export sales from Frencken's factories in China into the US, the analyst continues.
CGS International analyst William Tng has lowered his target price estimate on Frencken Group (SGX:E28
) to $1.15 from $1.40 due to the US tariff-induced uncertainties.
About 9% of Frencken's sales are shipped to the US, which is likely going to be subjected to the baseline 10% tariffs after the 90-day pause ends, Tng notes.
