Malaysian exporters may have shifted to markets away from Europe to developing and emerging economies, but some companies are still feeling the pinch from the eurozone crisis.
For these exporters, problems of financing, a fall in orders and reduced demand from Europe for their goods have made a negative impact.
Malaysia’s largest carbon steel fastener, Penang-based Chin Well Holdings Bhd, saw its first-quarter performance ended Sept 30, 2012, severely affected by the ongoing eurozone crisis.
Its exports to the eurozone, its largest market, was reduced by 29.3% to RM48.3 million from RM68.3 million in the previous corresponding quarter, reflecting the dampened economic outlook. (…)
via Eurozone crisis brings gloomy outlook to some M’sian fastener exporters.
