comparemela.com

Latest Breaking News On - Lin tzu - Page 1 : comparemela.com

Latitude Tree: Competition easing

KLANG: Furniture maker Latitude Tree Bhd expects revenue from its Vietnam operations to grow by 10% to 20% this year, while its Malaysian business is expected to grow by 10%, on the back of slowing competition from China, said its executive director Lin Tzu Keng. Speaking to The Edge Financial Daily recently, Lin said Chinese exports, especially to the United States, were slowing as China shifted its focus to catering for growing domestic demand. Latitude Tree produces wooden bedroom, living and dining room sets for the export market. Some 90% of its products are sold in the US and the remaining 10% in Europe and the Middle East. Lin said its Vietnam and Malaysian operations would also benefit from negatives affecting Chinese furniture makers such as anti-dumping duties imposed on their bedroom sets in the US, import duties and rising labour costs. “In 2008, a lot of factories in China closed down which reduced capacity, but in May 2009 we saw orders come back and we worked to replen

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.