The Singapore stock market has had a particularly rough year, along with it, Sarine Technologies has suffered a torrid year. Year to date, its share price has fallen by half and is at the 1.30 levels due to a slump in earnings. Overview The company is in the business of providing technology-related products to manufacturers which turn rough diamonds into polished ones. Despite being an "IT company", Sarine Technologies have demonstrated why it is important to analyse factors that are beyond the company's control such as its customers and the state of the diamond industry. The diamond industry especially in India, is experiencing a diamond crisis. Market demand for diamonds has been muted in both China and India and many Indian diamond manufacturers are struggling. This has affected Sarine. Its earnings have fallen 90% and it is unlikely Sarine will report a 3 cents EPS for this FY, let ......