The Hour Glass

Thread Rating:
  • 4 Vote(s) - 2.75 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#11
(06-12-2010, 11:30 PM)JJW Wrote: Came across the following when reading Executive Chairman Henry Tay's Statement to Shareholders in the 2010 AR:

"I would like to conclude by highlighting some key organisational values and operating tenets that The Hour Glass' management team adheres to. Some principles that are not so obvious and some that may be. It is invariably easier to start with the things we won't do. We are not in the business of generating short term market excitement and don't have ambitions to present ourselves as the biggest watch retailer in the world. We don't want to be the company that carries the widest selection of brands nor do we have the desire to hold the title as an operator with the most number of stores. We plan to be in this business for the long haul and believe in the merits of long range planning, ensuring that our business and financial goals reflect this creed. We aspire to be the best in class. To deliver the highest degree of customer service and to do so in the most consistent manner. To be regarded as a model employer and a dependable business partner. Financially, this translates into our goal of building an enduring and profitable business that assumes a moderate risk profile generating constant, sustainable long term returns and cashflows through the careful allocation of capital investments back into our business. By sticking to these time honoured guiding principles, we are certain that good things will follow"

Just thought that the above is worth sharing with fellow forummers.

If the above well articulated business principles and words were crafted by Dr Henry Tay himself and came straight from his heart, there are good reasons for shareholders and potential investors to believe The Hour Glass is going to be a great company and business, if it is not already one! If the ideas came from Dr Tay, and Dr Kenny Chan, Group MD (and younger brother of Mdm Chan Siew Lee, Executive Vice Chairman and wife of Dr Tay) or Mike Tay, ED (and son of Dr Tay) crafted the words, it would mean the whole senior management team is committed to these good business principles.

I am pleased to note that today (7Dec10) some investors decided to push up this counter by $0.075 - a good 8.3%! - and it closed at $0.98. It looks like finally, Mr Market has begun to appreciate the great investment merits of The Hour Glass!
Reply
#11
(06-12-2010, 11:30 PM)JJW Wrote: Came across the following when reading Executive Chairman Henry Tay's Statement to Shareholders in the 2010 AR:

"I would like to conclude by highlighting some key organisational values and operating tenets that The Hour Glass' management team adheres to. Some principles that are not so obvious and some that may be. It is invariably easier to start with the things we won't do. We are not in the business of generating short term market excitement and don't have ambitions to present ourselves as the biggest watch retailer in the world. We don't want to be the company that carries the widest selection of brands nor do we have the desire to hold the title as an operator with the most number of stores. We plan to be in this business for the long haul and believe in the merits of long range planning, ensuring that our business and financial goals reflect this creed. We aspire to be the best in class. To deliver the highest degree of customer service and to do so in the most consistent manner. To be regarded as a model employer and a dependable business partner. Financially, this translates into our goal of building an enduring and profitable business that assumes a moderate risk profile generating constant, sustainable long term returns and cashflows through the careful allocation of capital investments back into our business. By sticking to these time honoured guiding principles, we are certain that good things will follow"

Just thought that the above is worth sharing with fellow forummers.

If the above well articulated business principles and words were crafted by Dr Henry Tay himself and came straight from his heart, there are good reasons for shareholders and potential investors to believe The Hour Glass is going to be a great company and business, if it is not already one! If the ideas came from Dr Tay, and Dr Kenny Chan, Group MD (and younger brother of Mdm Chan Siew Lee, Executive Vice Chairman and wife of Dr Tay) or Mike Tay, ED (and son of Dr Tay) crafted the words, it would mean the whole senior management team is committed to these good business principles.

I am pleased to note that today (7Dec10) some investors decided to push up this counter by $0.075 - a good 8.3%! - and it closed at $0.98. It looks like finally, Mr Market has begun to appreciate the great investment merits of The Hour Glass!
Reply
#12
(07-12-2010, 05:43 PM)dydx Wrote: I am pleased to note that today (7Dec10) some investors decided to push up this counter by $0.075 - a good 8.3%! - and it closed at $0.98. It looks like finally, Mr Market has begun to appreciate the great investment merits of The Hour Glass!

Wow! Talk about timing. I certainly didn't expect the jump to be so huge and so sudden and it comes right on the heels of the renewed discussion here...

Anyway, putting coincidences aside, a moot point is that the bid-ask spread remains as high as ever which means that this one is really for the looong run.

I'm still a happy shareholder from 2 years ago.
Reply
#12
(07-12-2010, 05:43 PM)dydx Wrote: I am pleased to note that today (7Dec10) some investors decided to push up this counter by $0.075 - a good 8.3%! - and it closed at $0.98. It looks like finally, Mr Market has begun to appreciate the great investment merits of The Hour Glass!

Wow! Talk about timing. I certainly didn't expect the jump to be so huge and so sudden and it comes right on the heels of the renewed discussion here...

Anyway, putting coincidences aside, a moot point is that the bid-ask spread remains as high as ever which means that this one is really for the looong run.

I'm still a happy shareholder from 2 years ago.
Reply
#13
Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

I valued HR Glass better than other listed retailers peer such as Cortina and FJBenjamin
Reply
#13
Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

I valued HR Glass better than other listed retailers peer such as Cortina and FJBenjamin
Reply
#14
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!
Reply
#14
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!
Reply
#15
(08-12-2010, 11:09 AM)dydx Wrote:
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!

Thanks Dydx, Interesting on the (3), Have you or anyone managed to get share holder discount on watch purchase and was that a good deal (good discount from the listed price that other walk-in people pay in their shop)





Reply
#15
(08-12-2010, 11:09 AM)dydx Wrote:
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!

Thanks Dydx, Interesting on the (3), Have you or anyone managed to get share holder discount on watch purchase and was that a good deal (good discount from the listed price that other walk-in people pay in their shop)





Reply
#16
I think THG's watches are too expensive for me! Tongue

Perhaps when I become a HNW individual, I may consider buying from THG.....Sleepy
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
Reply
#16
I think THG's watches are too expensive for me! Tongue

Perhaps when I become a HNW individual, I may consider buying from THG.....Sleepy
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
Reply
#17
(08-12-2010, 11:09 AM)dydx Wrote:
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!

Option 2 for me!Tongue
Reply
#17
(08-12-2010, 11:09 AM)dydx Wrote:
(08-12-2010, 10:49 AM)SLC81 Wrote: Don't buy their watches for your loved one as gift this Xmas if you can afford, buy their shares would be better value honestly lol.

Many THG shareholders would likely do 1 or more of the following -
1. buy more THG shares over time with their savings;
2. buy more THG shares by taking their yearly dividends in scrips; or
3. use their yearly THG dividends or a portion of their realised gains from the shares to buy a nice watch for themselves or their loved ones from one of the TGH shops. They may even get a shareholder's discount!

Option 2 for me!Tongue
Reply
#18
I chanced upon this.

Watch retailer Jannie Tay on creating a sense of luxury in Singapore

It's an article by the BBC on entrepreneurship under the feature 'Start Up Stories'. As with all featured news articles, its purpose is publicity for the one being interviewed. However, putting that aside, I like how Jannie Tay describes that they had to sell watches differently and how they've engaged the emotions and created an experience for their consumer.

Do read the full thing.
Reply
#18
I chanced upon this.

Watch retailer Jannie Tay on creating a sense of luxury in Singapore

It's an article by the BBC on entrepreneurship under the feature 'Start Up Stories'. As with all featured news articles, its purpose is publicity for the one being interviewed. However, putting that aside, I like how Jannie Tay describes that they had to sell watches differently and how they've engaged the emotions and created an experience for their consumer.

Do read the full thing.
Reply
#19
Competitor Sincere watch's HK/Greater China operation,
Sincerewatch HK reported a sterling 1H results, with turnover increasing 148%. (note sincerewatch HK is much more of a watch distributor than retailer)
http://www.marketwire.com/press-release/...360767.htm

From sincere's announcement, import of swiss watches to S'pore increased by 27.8% in the first 9 mths of 2010, vs 50.3% increment for HK.

So in comparison, Hr glass's 5% increment in 1H10 turnover seems very modest, though I'm happy with their 38% increment in net profit.

Tay Liam Wee & partners must be really glad to pay only abt S$112m for the whole of Sincerewatch from peacemark's liquidators just over a yr ago when the current market value of their 75% owned HK listed subsidiary alone is already worth that amount. There's a interview of Tay Liam Wee in today's BT.
Reply
#19
Competitor Sincere watch's HK/Greater China operation,
Sincerewatch HK reported a sterling 1H results, with turnover increasing 148%. (note sincerewatch HK is much more of a watch distributor than retailer)
http://www.marketwire.com/press-release/...360767.htm

From sincere's announcement, import of swiss watches to S'pore increased by 27.8% in the first 9 mths of 2010, vs 50.3% increment for HK.

So in comparison, Hr glass's 5% increment in 1H10 turnover seems very modest, though I'm happy with their 38% increment in net profit.

Tay Liam Wee & partners must be really glad to pay only abt S$112m for the whole of Sincerewatch from peacemark's liquidators just over a yr ago when the current market value of their 75% owned HK listed subsidiary alone is already worth that amount. There's a interview of Tay Liam Wee in today's BT.
Reply
#20
Who are the competitors for Hour Glass? I can think of Cortina watches.

For 1HFY2011, THG had negative cash flow due to increase in inventories. How is the inventory management for THG?

I'm thinking of looking into THG as Singapore is attracting the high
net-worth individuals and they will spend the money on expensive stuff
like watches.
Visit my personal investing blog at http://financiallyfreenow.wordpress.com now!
Reply
#20
Who are the competitors for Hour Glass? I can think of Cortina watches.

For 1HFY2011, THG had negative cash flow due to increase in inventories. How is the inventory management for THG?

I'm thinking of looking into THG as Singapore is attracting the high
net-worth individuals and they will spend the money on expensive stuff
like watches.
Visit my personal investing blog at http://financiallyfreenow.wordpress.com now!
Reply


Forum Jump:


Users browsing this thread: 4 Guest(s)