Group Sense (International) (GSL), a maker of consumer-electronic products, will write-back part of a $10 million provision made on its Southeast Asian operations this year.
Chairman Samson Tam Wai-ho said the provision was for operations in Thailand, South Korea and Indonesia.
GSL had recovered a few million from the Thailand operation, he said.
'One way to recover the provision is to extend the repayment period, which has been prolonged from six months to 12 months,' he said.
A devalued yen and cheaper Asian currencies helped maintain the company's competitiveness without squeezing its profit margin, Mr Tam said.
Cost of raw materials dropped 20 per cent, cushioning profit margins despite a 10 to 15 per cent adjustment on prices of electronic dictionaries and pagers.
