I bought one of the Puma folders when I was 18, over 20 years ago, and the German steel was a HUGE disappointment. When I first got into knife making and was really looking critically at knives at shows (16-18 years ago) I looked at and handled a White Hunter and was not impressed by design, fit or finish. There were horrible mismatches between the stag and everything it butted up to. It screamed "nasty", but was not cheap.
It struck me that they were a 1970s/80s company trying to compete in the 2000s but hadn't improved their materials or quality to keep pace with what other companies could do and were doing. Changing manufacture to Asia is unlikely to have improved matters. Don't get me wrong, China is making some very good knives, Boker Tech tools just for example, but if the quality I saw in Puma when they were German made is how they do things now, I can't see their being the push for the best quality that Asia can produce.
The only knives I have seen or handled that used stag that I thought would be worth owning have all been hand made. Seems like it is a difficult material to do a good job with at commercial quantities.