SincereWatc   

sincere watch

Just opted to accept offer  from HK company, part cash $2.051, part Peace Mark shares for my Sincere Watch. Hope HK shares could be traded readily with good volume

 

Added some more at $2.33, but company requested trading halt. Hope to hear some more good news.

 

 

Sincere Watch is holding at around $2.42, seems very steady despite the volatility of other counters. Buy more!


 

 

today have reach 2.32 even went up to 2.37. anyone knows wat's going on?

 

Quietly moving up without much ppl noticing it...

 

Sincere Watch told Reuters on Thu it sees higher revenue growth for this fiscal year as Asia's rising wealth fuels appetite for expensive watches. Sincere Watch, also listed on the HKSE, sees 15 to 20% revenue growth in the year to Mar '08, up from 12% in the last fiscal year, led by demand from Southeast Asia.

"Southeast Asia is showing very good growth, especially in S'pore where the orientation is to buy these kind of products," MD Tay Liam Wee said in an interview.

Tay said 70% of its revenue came from Southeast Asia while 30% came from North Asia for the fiscal year '07. The firm distributes high-end watch brands such as Piaget, Franck Muller and Audemars Piguet through its 38 outlets in Asia. Their watches, which can fetch over a US$1 million a piece, are sometimes customised to include diamond studded bezels, intricate engineering and platinum casings.

Sincere Watch, which operates 14 stores in S'pore, said that the influx of high-net worth individuals for work was one of the reasons for healthy sales.

"Outside Japan and Hong Kong, the next place I can think of is S'pore as a hub for watch lovers," said Tay, adding that the company had recently opened more stores in KL and S'pore.

Singapore's economy is expected to grow 7.5% this year thanks to booming financial and construction sectors.

Sincere Watch's market cap of US$241 million is the largest of its competitors in S'pore such as The Hour Glass and Cortina Holdings. It generated $360 million in revenue in FY07.

Looking for a different way to compete, Sincere Watch opened a $1 million Watch Academy in S'pore last month, the first of its kind to be set up by a retailer. It will host talks and watch assembly sessions, with the aim of spurring more interest in luxury watches.

Although Southeast Asia is Sincere's main revenue generator, Tay said the company is looking to make a bigger splash in China by selling multiple brands of watches in a store, after its previous strategy of single-brand stores.

"Multi-brand retailing would definitely be a way forward for growth in the Chinese market," Tay said.

The booming luxury retail market in China will prove to be a continuing long-term catalyst for the company, though Tay said that Sincere had no firm plans to open up more stores in China.

 

Sincere watch - uptrend in spending on watches by locals & tourists, this company has further upside. target = S$1.65 

 

what is the price target for this stock?

 

wat do u think of this counter? the divd looks good.

 

Low volume counter, that goes up readily with some small buy orders. Still on uptrend. But it could easily reverse downwards

 

Low volume counter, that goes up readily with some small buy orders. Still on uptrend. But it could easily reverse downwards

 

Wow... really correct... top lose today.

 

It may correct on Wednesday.

 

Should be due to the upcoming EGM to approve the share scrip dividend scheme, where Sincere's S44 tax credits would be distributed to shareholders.  In any case, Sincere was trading at a much lower PE ratio (7X) compared to the other industry players like Hour Glass (over 10X) and Cortina (at around 18X).  Given that it is a premium brand comparable to superior to the others, it should theoretically be able to command a PE of at least 14X, which would be at a price of slightly below $2.00.  So the price increase is not surprising but the spike was.  It may be a virtuous cycle where shareholders rewarded with the increased share value at the end of the year may head down to Sincere to buy themselves a nice watch, contributing to its profits further! :)

 

What a pity I lost patience again and let go.....

 

Wow... yah.. huge increase in price without any warning.

This stock has low volumes generally... hard for TA to forcast price increases like this sudden spike.

 

any one know why this counter has increased by 59 cents?

 

wonder if this share is still going into?? any commend?