Singapore manufacturers worry about recession as orders drop
Published on Oct 1, 2012 6:00 AM
For manufacturing firm Apex Technologies, the past few months have been among the most trying since the financial crisis in 2008.
The firm's boss, Mr Alex Hoong, has seen orders drop by as much as 40 per cent as his customers are afraid to commit to orders.
"You usually see orders pick up about now for the year-end Christmas period. But so far, it's been very quiet," said Mr Hoong, who manufactures parts for the semiconductor and plastics industries.
Manufacturing has been one of the worst-hit sectors in the Singapore economy this year, having been adversely affected by the slowdown in China as well as the sluggish economies in Europe and the United States.
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