Multi-Chem's (SGX:AWZ) subsidiary, M.Tech Products, received a notice from a key vendor for the suspension of all orders and business development activities, according to a Wednesday filing with the Singapore Exchange.
The technology distribution company said the services accounted for between 5% and 10% of its total consolidated revenue for the six months ended June 30.
The company will now focus on expanding business with existing vendor base and will look to source new vendor partnerships.
Shares of the company slid over 17% in Thursday trading.
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