Global Invacom relocates China operations to the Philippines amid rising costs, warns of net loss for FY19

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SINGAPORE (Jan 15): Global Invacom, the global provider of satellite communications equipment, is expecting to book a net loss for FY19, as it makes “significant changes” to its operations. 

As a result of the ongoing US-China trade war and its tit-for-tat tariffs, Global Invacom says it is just one of the affected multinational companies with operations in China. 

For 2019, some 25% of the group’s manufacturing output came from China.  

“Our factory in Shanghai has become uncompetitive as a result of the 25% tariffs on both steel and electronics,” CEO Tony Taylor tells...(click on link for full story on theedgesingapore.com)