Corporate digest

Hi-P International

THE net profit of contract manufacturer Hi-P fell 3.3 per cent to S$24.2 million for H1 FY2020 ended June, even as its revenue for the period fell 5.1 per cent to S$543.8 million due to the impact of the Covid-19 pandemic.

The blow was cushioned by a 61.4 per cent rise in other income, from subsidies granted to the company. Losses arising from the share of results of associates also narrowed to S$510,000, from S$1.2 million loss a year ago.