Time Watch Investments Limited ("Time Watch" or "the Group", Bloomberg Code: TWIN.SP) is a leading manufacturers retailer of branded watches in the People’s Republic of China ("PRC").
Time Watch's proprietary brand "Tian Wang" has been established in the PRC since 1988 and is consistenly one of the top 4 local watch brands in the PRC by sales volume, as ranked by the Chinese National Commercial Information Centre.
Time Watch's other in-house watch brand "Balco", is introduced in 2001 and caters to middle upper PRC consumers who are willing to pay a premium for the precision and prestige of Swiss-made timepieces.
Adopting a vertically integrated business model, “Tian Wang” watches are designed, manufactured and assembled in the Group’s manufacturing operations in Shenzhen, PRC. "Balco" watches are imported into PRC from Switzerland.
Both brands are sold through 858 retail outlets in more than 35 cities throughout the PRC. In addition, the Group is also the PRC distributor of watches, and accessories for the renowned Italian brand "Police", with a total of 36 stores as at 30 June 2009.
The Group is also the orginal equipment manufacturer for international brands such as Aigner, Marie Claire and POLICE through its 2 manufacturing subsidiaries, East Base Limited (Hong Kong) and Tick Tack AG (Switzerland).
Supporting the Group's manufacturing and retailing operations, the Group has an operating subsidiary, Winning Metal Products Manufacturing Company Limited (“WMP”) that has a successful track record as the major leader in the watch movements in Hong Kong since 1980. WMP currently distributes over 700 models of watch movements from major global manufacturers including Seiko, Citizen, Timex, Swatch, Epoch and ISA. WMP's established customer base comprises over 230 watch manufacturers and distributors from all across the world.
Winning Metal Products Manufacturing Company Limited (WMP) was established by Mr Tung Koon Ming and Mr Tung Koon Kwok
WMP started its watch movement trading business in the 1980s. It currently distributes over 900 models of watch movements from major manufacturers worldwide, including Seiko/Epson, Citizen/Miyota and Ricoh (Japan), Timex (USA), Ronda, ISA/Prestige Time and Swatch/ETA (Switzerland) and Epoch/Technotime (People’s Republic of China/France).
WMP started designing and producing their proprietary brand of watches under the name of “Tian Wang”.
WMP’s first Tian Wang retail outlet opened in Guangzhou, followed by a second outlet in Shanghai a year later. Today, Tian Wang has over 450 points of sales in 35 cities throughout the PRC.
Balco, a Swiss imported brand, was introduced into PRC market by WMP. Today, Balco has over 200 points of sales in 31 cities throughout the PRC.
WMP underwent a reverse takeover (RTO) which was completed in November 2005. WMP became a wholly-owned subsidiary of Wee Poh Holdings Limited, a construction company listed in Singapore. After the RTO, Wee Poh moved to an entirely new chapter, associating itself with the art and science of horology to target the middle class market of the PRC – a population of over six hundred million Chinese.
Wee Poh acquired a 51% majority stake in East Base Limited and Tick Tack AG which have strong OEM businesses in the Asian and European watch markets.
“Wee Poh Holdings Limited” was renamed as “Time Watch Investments Ltd”, symbolizing the complete transformation of the Group into a significant player in the watch and watch-related business.
Time Watch acquired levels 1 to 5 of Zijingshan Department Store located in Zhengzhou, Henan Province to be the Group’s flagship store in middle China.
Time Watch secured the sole distributorship of the “Police” brand of watches and accessories (excluding sunglasses) in China.
Time Watch transferred from SGX catalist to SGX mainboard
Time Watch incorporated a 51% owned subsidiary company Fortune Silver Holding Limited.
Time Watch incorporated a 51% Sino-Foreign Joint Venture Company known as Suzhou Bao Li Chen Company Limited to expand the group's retail network within Suzhou, PRC
Time Watch acquired 13% equity interest in Fortune Concept Limited pe.timedesign GmbHz' Swiss Fashion Time GmbH.
Time Watch incorporated a 47% owned associated company, Eastern Glory Enterprise Limited which oversees the Group's latest retail outlet in Tshimshatsui, Hong Kong, which retails a variety of products including jewellry, cosmetics, electronic products and dried food products to affluent customers and tourists.