The stocks of manufacturers were hit as investors sold their shares in a knee-jerk panic. Manufacturers that weren’t listed, including Hi-P International, were luckier as they were shielded to a certain extent from the volatility of public markets even as they tried to adapt to the new challenges.
Yao Hsiao Tung, chairman of Hi-P International, sees the US-China trade war as an opportunity to grow and hit a $10 billion revenue target, even as it plans to comeback IPO on the SGX
When the universal tariffs were announced by US President Donald Trump, manufacturers across Asia watched with consternation as the trade war that was primarily aimed at China widened. By slapping significant tariffs on other economies such as Vietnam and Thailand, the so-called China+1 strategy of hedging with an alternative manufacturing site was severely undermined.
