Li & Fung may cut product & service prices

Li & Fung (0494) managing director William Fung noted that due to the US economic slowdown the company might cut the price of the products and services of the company. It is now preparing to move their manufacturing base to low-cost places.He said the US economic slowdown had no impact on the orders in hand. If it proceeds as last year, individual clients would still generate a handsome income for the company. The company earlier reserved US$2 to 2.5 bln capital for acquisition. He said it was still seeking targets for acquisition.

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