FAR East Aluminium (Holdings) saw its profits dive 92.6 per cent to $1.22 million for the six months ended June 30, from $16.52 million last year. Earnings per share fell by 94.2 per cent to 0.4 cent from 6.9 cents. Chairman Richard Pang Shek-nam blamed the sharp profit decline on intensified competition and reduced profit margins in construction contracts. ''The construction industry has reached a stagnant period due to the disagreements between the British and Chinese governments over the funding of the new airport and political reform proposals,'' he said.
