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WBL Q4 profit hit by car cooling moves

Net profit falls almost 50% to $8.6m, revenue down 9% to $587m

CAR cooling measures in Singapore finally bit for United Engineers' (UE) subsidiary WBL Corporation, whose net profit for its fourth quarter ended Sept 30 halved to $8.6 million, from $17 million a year ago. Revenue was down 9 per cent at $587.8 million, due to lower car sales in Singapore and...

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