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(11-10-2013, 11:12 PM)Clement Wrote: [ -> ]Well, according to the 2012 annual report, Osim have 590 stores worldwide not including the web store. Each chair sells for an average of $3000+ or so depending on product mix. Revenue of approximately $556 million. All these adds up to slightly less than one chair per day per store doesn't it (~314 chairs per year). This is in line with what our eyes are telling us. That gives us approximately 90,000 per month in revenue per store, should easily cover rental expenses. The thing is, what should we make of a company making a good profit margin with seemingly empty stores if the numbers do indeed add up and do not look fishy?

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OSIM, another repeat entry, should continue to shine even after a strong run-up in the last couple of years, according to Wong. “Some people say ‘Nobody goes to their shops. How can they make money?’ But OSIM has managed its expenses so well that as long as they sell one massage chair a day per store, they will make money, and these guys have been doing it.”

In particular, sales in the China market are expected to continue increasing, he adds. “[OSIM CEO] Ron Sim believes so much in brands. He is bringing TWG Tea to China. That’s why he set up a very posh outlet in IFC Mall [in Hong Kong], which is a springboard for OSIM to China. I think that’s going to yield dividends for the company.” OSIM owns 45% of TWG.

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OSIM becomes the 53.7% majority owner of TWG Tea

The Board of Directors is pleased to announce that OSIM has entered into an agreement to increase its effective shareholding in TWG Tea Company Pte Ltd ("TWG Tea") from 45% to a strategic controlling stake of 53.7%. There is no change in the management team of TWG Tea, which remains committed to the future development and growth of TWG Tea.

The purchase consideration was US$7.2m and was arrived at on a willing buyer, willing seller basis taking into account the audited net tangible assets value of TWG Tea as at 31 March 2013 was S$4.7 million.

The above transaction is expected to be earnings accretive for OSIM for the year ending 31 December 2013.

The relative figures in respect of the above transaction, as computed on the bases set out in Rule 1006 of the Listing Manual, do not exceed 5%.

None of the Directors or substantial shareholders of OSIM have any
interest, direct or indirect, in the above share purchase.

(28-01-2014, 09:59 AM)Zip113 Wrote: [ -> ]record quarter earnings but price drop

(28-01-2014, 09:59 AM)Zip113 Wrote: [ -> ]record quarter earnings but price drop

(18-02-2014, 08:28 AM)felixleong Wrote: [ -> ]SINGAPORE – The founder of luxury tea company TWG has filed a lawsuit against majority shareholder OSIM International, alleging the Singapore lifestyle firm and some of its directors had conspired to dilute his stake in the firm he built up.

Mr Manoj Murjani and his company The Wellness Group have asked the Singapore High Court to reverse recent corporate developments at TWG Tea Company that had resulted in OSIM raising its stake in TWG Tea to 70 per cent from 53.7 per cent.

Besides OSIM, Mr Murjani is also suing several individuals including OSIM founder Ron Sim and TWG Tea’s other founder Taha Bou Qdib.

OSIM acknowledged receipt of the lawsuit on Monday but said the allegations were “unmeritorious and groundless”.

OSIM, which is best known for its massage chairs, first invested in TWG Tea in April 2011. It paid S$31.36 million for a 35 per cent stake at that time. Channel NewsAsia