Hi-P International

Hi-P International: Group issued a profit guidance for 1Q13, that they expect to report a marginally lower revenue, but higher profit in 1Q2013 as compared to 1Q2012. The differences were mainly due to - improvement in productivity; - higher cost savings; - change in product mix; - partly offset by a provision of approximately $4.8m in respect of the estimated net carrying value of the renovation, machineries and inventories that were damaged by the fire that occurred on 19 Feb 2013 at one of the Group’s manufacturing plants in Shanghai.