Shareholders of electronic products maker Same Time Holdings yesterday approved a resolution allowing directors to issue additional shares up to an aggregate of no more than 20 per cent of its capital without seeking prior consent. Chief executive Maurice Yip How-yin said the company was not certain when it would issue new shares but would do so only when there was a definite project which needed funding. He said it had been facing financial problems and was unlikely to make a profit until next year. 'The electronics industry has slowed down in the last few years, even before the economic downturn. 'The main thing now is to stay in business. If we can get through this period, we will be fine.' It cut 50 per cent of its factory staff this year. He said price cutting by competitors in neighbouring countries had hurt profits.