This was largely due to the delay in the group’s shift of its entire Shanghai operations to its megafactory in Chuzhou, which would have increased production capacity, cost advantages and operating margins.
SINGAPORE (Mar 5): Quarz Capital Management activist fund has sent off a second open letter to the board of Sunningdale Tech, the Mainboard-listed high-precision plastic components maker, which was hit by another earnings miss.
In the latest open letter issued on Tuesday to Sunningdale, Havard Chi, head of research and director at Quarz, noted that Sunningdale’s new Penang plant continued to incur one-off start-up costs and duplicity in operating cost in 4Q18 as it retains its production in Shanghai.
