"The weak financial performance is also attributable to the slowdown in consumer and industrial demand in Asia, especially China, amid macro challenges around inflationary pressures, high interest rates, currency volatilities and ongoing geopolitical tensions," says executive chairman Derek Goh in the statement.
Serial System will report a full-year loss for FY2023 ended Dec, the semiconductor distributor warns on Feb 17.
The company attributes the poor showing to loss allowance for trade receivables, unfavourable forex, allowances for inventory obsolescence and higher interest expenses.
