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28-11-2010, 09:08 PM
(This post was last modified: 23-10-2013, 02:57 PM by CityFarmer.)
hi all,
this year marked the turnaround fortune for this timepiece company. i'm sure many of us are familiar with it before it was delisted from sgx.
[Image: 2010Nov-SincereWatchHongKongLtd-1200x600.png]
here's some extract from the latest interim result report. http://www.hkexnews.hk/listedco/listcone...124533.pdf
"PROSPECTS
The centre of gravity of the luxury business is shifting rapidly to Asia with China forecasts to be the world's largest luxury market in the next few years (source: Boston Consulting Group).
The latest figures from the Federation of the Swiss Watch Industry reinforced Asia's eminent position as the main engine of growth for the Swiss watch industry. Asia including the Middle East took the lion's share of about 51% of the total value of all Swiss watch imports at the end of September 2010. The same report showed Hong Kong as the top destination of most Swiss watch industry products, capturing 19.4% of total world imports amounting to CHF 279 million , outpacing other leading markets such as U.S. and Japan.
The demand for Swiss watches in Asia was such that Hong Kong surpassed the United States and Europe as the world's top market for Swiss watches for three consecutive years since 2007.
By September 2010, Hong Kong and China posted a year-on-year increase of 50.3% and 35.5% respectively in Swiss watch imports.
The Group's other markets such as Singapore and Taiwan also showed robust rises in demand for Swiss watches , registering growth of 27.8% and 21.2% respectively.
The Group's ultimate holding company Sincere Holdings Limited is now controlled by a consortium of investors including Triple A Enterprises Pte Ltd (which is owned by Mr. Tay Liam Wee , Executive Chairman of Sincere Watch Limited), Standard Chartered Private
Equity Limited, L Capital Sincere Cayman Limited (a member of the world's top luxury group , LVMH), and a group of banks. With the resources of this global consortium and in the light of the improved outlook, the Group is optimistic of its prospects in the coming months."
i can imagine the re-rating in the valuation of hour glass if it is listed in hkex.
this year marked the turnaround fortune for this timepiece company. i'm sure many of us are familiar with it before it was delisted from sgx.
[Image: 2010Nov-SincereWatchHongKongLtd-1200x600.png]
here's some extract from the latest interim result report. http://www.hkexnews.hk/listedco/listcone...124533.pdf
"PROSPECTS
The centre of gravity of the luxury business is shifting rapidly to Asia with China forecasts to be the world's largest luxury market in the next few years (source: Boston Consulting Group).
The latest figures from the Federation of the Swiss Watch Industry reinforced Asia's eminent position as the main engine of growth for the Swiss watch industry. Asia including the Middle East took the lion's share of about 51% of the total value of all Swiss watch imports at the end of September 2010. The same report showed Hong Kong as the top destination of most Swiss watch industry products, capturing 19.4% of total world imports amounting to CHF 279 million , outpacing other leading markets such as U.S. and Japan.
The demand for Swiss watches in Asia was such that Hong Kong surpassed the United States and Europe as the world's top market for Swiss watches for three consecutive years since 2007.
By September 2010, Hong Kong and China posted a year-on-year increase of 50.3% and 35.5% respectively in Swiss watch imports.
The Group's other markets such as Singapore and Taiwan also showed robust rises in demand for Swiss watches , registering growth of 27.8% and 21.2% respectively.
The Group's ultimate holding company Sincere Holdings Limited is now controlled by a consortium of investors including Triple A Enterprises Pte Ltd (which is owned by Mr. Tay Liam Wee , Executive Chairman of Sincere Watch Limited), Standard Chartered Private
Equity Limited, L Capital Sincere Cayman Limited (a member of the world's top luxury group , LVMH), and a group of banks. With the resources of this global consortium and in the light of the improved outlook, the Group is optimistic of its prospects in the coming months."
i can imagine the re-rating in the valuation of hour glass if it is listed in hkex.