the owner of taiwan tea company name sounds indian??
interesting, for me OSIM is a Singapore Chip
Osim still own Brookstone?
Brookstone gets bankruptcy financing
Published on Apr 06, 2014
7:43 PM
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By Bloomberg
Wilmington, Delaware - Brookstone Inc, the retailer of luxury gadgets including US$4,600 (S$5,800) massage chairs, won bankruptcy court approval of a financing package to help fund operations and pay off some debt as it pursues a sale.
Brookstone filed for bankruptcy April 3 with a deal to sell its assets to Spencer Spirit Holdings Inc.
The chain has struggled to adapt to an evolving retail landscape where online competitors dominate and consumers are cutting back on non- essentials.
US bankruptcy Judge Kevin Carey last Friday granted the company interim approval to borrow about US$91.3 million of US$96.3 million in financing being provided by some of its noteholders.
(06-04-2014, 08:33 PM)greengiraffe Wrote: [ -> ]Osim still own Brookstone?
Brookstone gets bankruptcy financing
Published on Apr 06, 2014
7:43 PM
newspostPurchase this article for republication
photobankBuy SPH photos
By Bloomberg
Wilmington, Delaware - Brookstone Inc, the retailer of luxury gadgets including US$4,600 (S$5,800) massage chairs, won bankruptcy court approval of a financing package to help fund operations and pay off some debt as it pursues a sale.
Brookstone filed for bankruptcy April 3 with a deal to sell its assets to Spencer Spirit Holdings Inc.
The chain has struggled to adapt to an evolving retail landscape where online competitors dominate and consumers are cutting back on non- essentials.
US bankruptcy Judge Kevin Carey last Friday granted the company interim approval to borrow about US$91.3 million of US$96.3 million in financing being provided by some of its noteholders.
IIRC osim wrote off brook stone entirely but still owns it. anyone can confirm this? Does osim's equity stake get restructured n carry some value after this post bankruptcy reorg?
(06-04-2014, 09:25 PM)kikababoo Wrote: [ -> ] (06-04-2014, 08:33 PM)greengiraffe Wrote: [ -> ]Osim still own Brookstone?
Brookstone gets bankruptcy financing
Published on Apr 06, 2014
7:43 PM
newspostPurchase this article for republication
photobankBuy SPH photos
By Bloomberg
Wilmington, Delaware - Brookstone Inc, the retailer of luxury gadgets including US$4,600 (S$5,800) massage chairs, won bankruptcy court approval of a financing package to help fund operations and pay off some debt as it pursues a sale.
Brookstone filed for bankruptcy April 3 with a deal to sell its assets to Spencer Spirit Holdings Inc.
The chain has struggled to adapt to an evolving retail landscape where online competitors dominate and consumers are cutting back on non- essentials.
US bankruptcy Judge Kevin Carey last Friday granted the company interim approval to borrow about US$91.3 million of US$96.3 million in financing being provided by some of its noteholders.
IIRC osim wrote off brook stone entirely but still owns it. anyone can confirm this? Does osim's equity stake get restructured n carry some value after this post bankruptcy reorg?
Yes, OSIM has wrote off entirely its stake in Brook. In an AGM, a week before, Mr. Sim indicated that due to priority to pay off huge amount to bond holder, very unlikely there will be any upside of revaluation of OSIM's stake in Brook. This is my understanding.
Vested.
http://www.businesstimes.com.sg/breaking...sim-and-di
PUBLISHED MAY 27, 2014
The Wellness Group and its founder issue second Writ of Summons against Osim and directors
BYANGELA TAN
angelat@sph.com.sg
In the release, OSIM had said the allegations were " unmeritorious and groundless" and that it plans to seek legal advice to refute the claim - PHOTO: SPH
OSIM International Ltd said on Tuesday that The Wellness Group Pte Ltd and Manoj Mohan Murjani had on May 23, 2014 issued another Writ of Summons against the company and all of its directors for alleged defamation.
This second action was prompted by OSIM's press release on February 17 in response to the initial Writ of Summons.
In the release, OSIM had said the allegations were " unmeritorious and groundless" and that it planned to seek legal advice to refute the claim.
"The main allegation in this second action is that by the announcement dated 17 February 2014, the company and all of its directors have defamed The Wellness Group and Manoj,'' OSIM said.
just a simple question,
how come the number of OSIM stores they reported in AR 2013 is so different from AR 2012?
for ex, according to annual report 2013, number of OSIM stores in 2011 and 2012 is 586 and 577 respectively
meanwhile according to annual report 2012, number of OSIM stores in 2011 and 2012 is 592 and 590 respectively
why?
a bit cautious due to this:
1) what's inside the "other operating expenses"? why company didn't break them down? they are such a huge number
2) why didn't the company break down sales? as in how much come from massage chairs, TWG, and supplement business?
3) 2 lawsuits regarding TWG, one about its name and the other about share dilution of its founders
4) Brookstone saga, it seems to me management is trying to cover it up/ avoid discussing this openly? the bankruptcy itself shows management hasnt done enough due diligence prior to acquiring the business
5) Expensive valuation. Perhaps current expectation from the market is very high seeing how well the profits have grown. Any small mistake from Ron Sim can be very costly to investors.
just my 2 cents. not vested.
Osim miracle continue...
(not vested)
Osim posts 13.1% rise in 2Q to $29.4 mil
Osim International, the massage chair maker, said it posted a 13.1% rise in 2QFY2014 ended June of $29.36 million from $26.1 million a year ago. Revenue rose 10.4% to $182.7 million.
Osim said the increase in sales was driven by higher consumwer demand on Osim massage products, nutritional supplements and luxury tea from TWG Tea.
2Q profit before tax reached a high of $39 million, up 12% from a year ago. The better performance was due to higher sales and better productivity.
Cash and cash equivalents and fixed income investments as at 30 June 2014 were $304 million.
Osim has declared an interim dividend of 2 cents per share.
http://www.theedgesingapore.com/the-dail...4-mil.html