“Management indicated residual inventory had been sold and there was zero additional provisioning risk from this project. This was a key learning lesson for Hi-P leading to the implementation of ERM systems and adoption of a risk-weighted total exposure approach to evaluate clients,” say the analysts.
SINGAPORE (July 12): Hi-P International, the electronics manufacturer in the telecommunications, lifestyle, computing and automotive industries, has put the “ghosts of Yota” behind it – possibly for good – in Maybank Kim Eng’s view.
The chapter on assembling Russia’s Yotaphone2, which led to FY15 losses from $74.4 million in inventory write-offs, closed in Jan 2017 with an out-of-court settlement of US$17 million ($23.5 million), recall analysts Neel Sinha and Lai Gene Lih in an unrated report on Wednesday.
