Chin Well sees lower revenue and bottom line due to labour shortage

Executive director Tsai Chia Ling(inset) told StarBiz the domestic contribution for the 2016 fiscal year starting July should improve due to new construction and landscaping jobs from the government sector. (A file picture shows Chin Well

 BUKIT MINYAK: Chin Well Holdings Bhd is expecting a lower revenue and bottom line for its financial year 2017 ending June 30 (FY17) compared to FY16 due to a labour shortage and higher safeguard duties on wire rods from 40 countries, including China.

Group executive director Tsai Chia-ling told StarBiz that although the markets in Europe and Asia had improved and orders for fasteners were steadily coming in, the group was not able to take in all the orders due to a labour shortage, which would have an impact on its performance for FY17.