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Technology Stocks : Deswell Industries (DSWL)
DSWL 3.695-3.5%Nov 20 3:59 PM EST
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To: Ron Bower who wrote (218)11/18/1997 11:21:00 PM
From: Steven Yang  Read Replies (1) of 1418
 
Ron,

thanks for your reply.

I do not believe that HK dollar will be devalued. However, if it were, I believe that the impact on DSWLF would be material. 75% of its sale (after taking into accoutn of the minority interest) is in HK dollar. I do not have an exact percentage of its cost in HK dollar, but I believe that it is a lot lower. Thus, we could see two negative consequnces: a) its gross and net margins will drop; and b) its top line and bottom line will fall when translated to US dollars.

Steven
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