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3. Findings

Figure 3 [?] the profits of Mojo in Hong Kong and Singapore between 1994 and 2001.

3.1 Hong Kong

As can be seen from the graph, profits in Hong Kong [?] steadily from HK$30 million in 1994 to HK$60 million on 1997. This was [?] due to the economic boom in the years leading up to the handover to China. After the [?] in 1997, the Asian financial crisis may have led to the [?] drop in profits to HK$30 million in 1998 and the fall to their lowest point of HK$20 million in 1999. From 1999 profits [?] gradually reaching HK$40 million in 2001. This could have been the result of the growing China market.

3.2 Singapore

While profits in Hong Kong [?] in the middle of the decade, Singapore’s profits only improved [?] from HK$40 million in 1994 to HK$50 million in 1995 where they [?] for one year. This is almost [?] due to increased taxation by the Singaporean government. Profits then [?] sharply to HK$30 million in 1998, where they remained [?] for a year, before continuing the decrease [?] 2001 at their lowest point of HK$10 million. It [?] that this was due to the strong competition from Malaysian companies in those years.