Time Watch

Dello wrote:

bestworld, how did u get this \"Manufacturing & trading of watches -29% compared to Q1FY09\"? It should be a +27% increase in gross profit. In terms of revenue, the fig is + 38%. But you are right, the leasing of a shopping mall generated only 2% of gross profit, so it\'s not a core business.

It should be Trading watch movement ...-29%. I cannot understand why ppl say \"The grow in watch segment comes from the trading of watch movements.\"

Hohoho, Mr Bestworld, I owe you an apology. I relooked my numbers and I have made a mistake in the interpretation when I said that the rental income from shopping mall is substantial. Please accept the apology. But I remained skeptic about the growth of its manufacturing and retail of own brand. I am not comparing y-o-y. 1Q2009 is July-Sept 2008 for Timewatch. Lehamn crisis just happened. I expect sales to be bad anyway. In fact, most Singapore companies will report solid earnings in 2009 when compared to 2008 which was a bad year. If you compared q-o-q, you will notice that their sales and profit have not been growing. 4Q2009 Revenue and Gross Profit from Manufacturing -- 140m and 78m respectively 1Q2010 Revenue and Gross Profit from Manufacturing -- 136.2m and 80m respectively Even when compared to a bad quarter in 1Q2009, the performance of the other segments has been disappointing. Timewatch is in a capital intensive business and require huge working capital to hold its inventories. I have seen no improvement in capital management from the time it was in Sesdaq till today. If you went on to analyse the revenue and profit of the shopping mall, you will find it extremely peculiar that the numbers fluctuate with no proper explaination. Granted that this is a small part of earnings but do remember that the Company has invested RMB 96m into this mall and we do expect to see better returns from this investment. I definately think that Timewatch is undervalued at this price given that its China competitor, Rossini was acuquired at 2x BV in 2007. But having said that, I am not optimistic that it will ever reach 45 cents. Hohohoh.... :laugh: :laugh:

Functional Watches are everywhere at throw-away prices. :lol: TIME is MORE than informed by mobine phone with ALARMS and REMINDERS . :lol: WHY bother to wear watch just to DUPLICATE TIME? :lol: Watch\'s Function is overly overtaken by mobile phone. :lol: Pride? Risk Management? Double Assurance? Insecurity? WHATEVER? :lol:

Morpheus wrote:

Hohoho, Mr Bestworld, I owe you an apology. I relooked my numbers and I have made a mistake in the interpretation when I said that the rental income from shopping mall is substantial. Please accept the apology. But I remained skeptic about the growth of its manufacturing and retail of own brand. I am not comparing y-o-y. 1Q2009 is July-Sept 2008 for Timewatch. Lehamn crisis just happened. I expect sales to be bad anyway. In fact, most Singapore companies will report solid earnings in 2009 when compared to 2008 which was a bad year. If you compared q-o-q, you will notice that their sales and profit have not been growing. 4Q2009 Revenue and Gross Profit from Manufacturing -- 140m and 78m respectively 1Q2010 Revenue and Gross Profit from Manufacturing -- 136.2m and 80m respectively Even when compared to a bad quarter in 1Q2009, the performance of the other segments has been disappointing. Timewatch is in a capital intensive business and require huge working capital to hold its inventories. I have seen no improvement in capital management from the time it was in Sesdaq till today. If you went on to analyse the revenue and profit of the shopping mall, you will find it extremely peculiar that the numbers fluctuate with no proper explaination. Granted that this is a small part of earnings but do remember that the Company has invested RMB 96m into this mall and we do expect to see better returns from this investment. I definately think that Timewatch is undervalued at this price given that its China competitor, Rossini was acuquired at 2x BV in 2007. But having said that, I am not optimistic that it will ever reach 45 cents. Hohohoh.... :laugh: :laugh:

Well, if you follow the company visions and track their results Q to Q, the numbers look great! 45c is the FV that I come out with, may not be possible now as market sentiment is bad, but when sentiment improve, 45c should be an easy target.

Stock looks very strongly supported. Now +1 c at 18 c. Few people will doubt that this stock is set to rise sharply with a turn in market sentiment. based on low PE, high earnings growth potential, and dual listing

TIME WATCH MAINTAINS POSITION AS CHINA’S LEADING WATCH RETAILER; 1HFY2010 NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS CLIMBS 14.2% TO HK$37.9 MILLION  Net profit growth achieved on higher retail sales and continued contributions from retail sector  Latest retail outlets in Hong Kong continue to contribute positively to top- and bottom-line performance, accounting for 19% of total Group sales in 1HFY2010  Group’s retail presence expanded with 68 outlets opened in 1HFY2010; bringing total number of POS to 962. Total Points of Sales (“POS”) targeted to exceed 1,000 by June 2010  Continued focus of Group expansion plans within Greater China  Confident that 2HFY2010 performance will exceed 2HFY2009