Deswell Industries (DSWL) Message Board

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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.390

-0.3%

Nov 7 9:30 AM EST

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To: j rector who wrote (854)	8/1/1998 12:23:00 PM
From: Ron Bower	Read Replies (2) of 1418

j, I may have figured it out. The sales to Mita, Nam Tai, Vtech, etc. are in $HK. Sales to InterTel and likely Behringer are in $US. Most expenses are in $HK or $HK converted to yuan or other currency. Revenues in $US are deposited as $US, $HK as $HK. They use from the $HK funds for most expenses, from the $US for some raw material and dividends. The result would be a build up of $US funds that would not convert unless needed. May be wrong, but this would explain the difference between the report and what Mr. Lau has said. I think we can still assume the majority of the cash is deposited in $US. FWIW, Ron

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