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Hong Leong Asia's 2014 profit drops 40.9%

This is due mainly to higher losses at consumer products unit Xinfei; group's revenue rises 1%

Singapore

HONG Leong Asia (HLA), the trade and industrial arm of the Hong Leong Group, reported a 40.9 per cent slump in net profit from S$45.6 million a year ago to S$26.9 million for its full year ended Dec 31, 2014.

The lower net profit was mainly due to higher losses incurred...

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