Osim

[winston]

Osim withdraws plans to issue Taiwan depository receipts

SINGAPORE, Aug 29 (Reuters) - Singapore's massage chair maker Osim International said on Monday it will withdraw its plans to issue Taiwan depository receipts (TDR) due to the ongoing disruption in the global financial markets.

Osim will evaluate its plans for the TDR when market conditions improve.


Source: Reuters

[winston]

not vested

RESEARCH ALERT-OCBC lowers Osim target price

SINGAPORE, Nov 2 (Reuters) - OCBC Investment Research lowered Singapore's massage chair maker Osim International target price to S$1.37 from S$1.52 but maintained its buy outlook.

STATEMENT: OCBC said it has lowered its net profit forecast for Osim in 2011 to 2012 from 7.1 percent to 2.7 percent respectively.

The brokerage said that Osim International third quarter net profit of S$13.1 million was 10.4 percent lower than its estimate.

Osim faces a risk of lower sales growth as the euro zone crisis and sluggish U.S growth weigh on consuming spending in Asia.

As such, the brokerage also lowered its earings per share outlook for 2012 to 15 times from 12.9 times.

At 0200 GMT, shares of Osim were 0.02 percent lower at SS1.18. They have fallen 28 percent since the start of the year.

Source: Reuters

[winston]

not vested

Osim International, which makes massage chairs, said its fourth quarter net profit rose 0.8 percent to S$17 million, helped by higher sales.

Source: Reuters

[winston]

not vested

OCBC upgrades OSIM to buy

OCBC Investment Research upgraded massage chair and health products company OSIM International Ltd to buy from hold and raised its price target to S$1.61 from S$1.35.

OCBC expects further earnings traction for OSIM, underpinned by new innovative product launches with different price points and improvement in productivity per store and staff.

Given the better-than-expected performance for OSIM's first quarter, OCBC raised its earnings per share forecasts for 2012 fiscal year by 7.5 percent and for 2013 by 4.9 percent. OCBC said OSIM is steadily raising its profile as a luxury specialty retailer.

OSIM shares were down 2 percent at S$1.23 and have gained 6.5 percent so far this year, underperforming a 14 percent rise in the FT ST Mid Cap index <.FTFSTM>.


Source: Reuters

[winston]

not vested

OSIM INTERNATIONAL The massage chair maker's third-quarter net profit surged 49 percent to S$20 million ($16.3 million) and sales grew 15 percent to S$142 million.

The company said it had reported growth in profitability for 15 consecutive quarters and expects its core business to remain strong.


Source: Reuters

[winston]

not vested

Osim rises on earnings, OCBC ups target price

Shares of Osim International Ltd rose as much as 2.7 percent to a 15-month high after it posted strong quarterly earnings and OCBC Investment Research raised its target price for the massage chair maker.

By 0325 GMT, Osim shares were up 1.7 percent at S$1.51. The shares have jumped 30.7 percent since the start of the year, compared with an 18 percent decline in the FTSE ST Consumer Goods Index <.FTFSTAS3000>.

Nearly 3 million Osim shares were traded, 4.3 times their average daily volume over the last 5 sessions.

Osim said its third-quarter net profit surged 49 percent to S$20 million, making it the 15th straight quarter of growth in profitability.

OCBC raised its target price for Osim to S$1.87 from S$1.79 and kept its 'buy' rating, citing higher expected dividend payouts, supported by strong cashflow generation.

The brokerage expects Osim's 2012 dividend per share to be 4.5 Singapore cents to 5 Singapore cents.

"Osim's growth would be underpinned by its strong product innovation, a focus on middle-to-high income consumers and continued efforts to improve its productivity per man and per store," said OCBC.

Source: Reuters

[winston]

not vested

SINGAPORE-DMG raises target on Osim, keeps 'buy'

DMG & Partners Securities raised its target price for Osim International Ltd to S$2.04 from S$1.75 and maintained its 'buy' rating, saying investors have turned more confident about the company's earnings.

Osim shares were down 0.3 percent at S$1.80 on Thursday.

Two new massage chairs will drive Osim's earnings for 2013-2014 fiscal years, DMG said.

It added that China, where the massage chairs penetration rates are still at 1 percent despite having a growing pool of newly rich, is a key market for Osim.

DMG sees more sales in Osim's nutritional supplements business, which is represented under GNC and the company's own proprietary brand RichLife. It also sees growth in Osim's luxury tea retailing business TWG.

Source: Reuters

[winston]

not vested

STOCKS NEWS SINGAPORE-OCBC raises OSIM target, keeps 'buy'

OCBC Investment Research raised its target price on massage chair maker OSIM International Ltd to S$2.14 from S$1.87 and maintained 'buy', citing China's recovering economy, innovative products and attractive valuation versus its peers.

OSIM shares were down 0.3 percent at S$1.78 on Friday. The stock surged 50 percent last year, beating the 32 percent gain in the FT ST Midcap Index <.FTFSTM>.

"We believe that OSIM International would be a key beneficiary of a recovery in the economic conditions in China, which is its largest market," OCBC said.

OSIM plans to launch two new massage chair models and has embarked on a nationwide advertising campaign in China, OCBC said, adding that these initiatives, coupled with a focus on improving productivity, will help drive sales and profitability in 2013 fiscal year.

Source: Reuters

[winston]

not vested

Massage chair maker OSIM International reported a 32.5 percent jump in fourth-quarter net profit , to S$22.6 million from a year earlier, helped by higher revenue from new products.

Source: Reuters

[iam802]

I recall OSIM has a stake in TWG.

So, US refused to allow them to register the trademarks. HK is fighting it.

Questions. Why is SG so lax with this? I do think placing '1837' in the logo is misleading and not a good representation.


--

Storm brews over TWG Tea logo in HK court

http://www.singaporelawwatch.sg/slw/hea ... court.html

A Hong Kong tea company founded in 1932 saw red when a Singapore competitor opened an outlet in the territory using the same abbreviation, TWG.

Tsit Wing (Hong Kong), which is listed in Singapore, and its subsidiary Tsit Wing International took TWG Tea Company to court, arguing a breach of its trademark.

Last week, a Hong Kong judge agreed with Tsit Wing, holding the Singapore-based firm liable for the breach and the additional claim of "passing off" its business as Tsit Wing's by using a sign containing the abbreviation in its restaurant.

Both parties will return to court tomorrow to hear TWG Tea's submissions regarding Tsit Wing's demands and Deputy High Court judge John Saunders' decision on the damages and other remedies Tsit Wing is seeking.

TWG Tea, which is 45 per cent owned by Osim International, opened a restaurant in Hong Kong's IFC Mall in December 2011, triggering the stand-off between the tea giants.

The Tsit Wing Group, which was founded as a family business, has used the TWG logo since 2006. In 2011, its gross sales were HK$393 million (S$64 million), of which HK$111 million was from tea, noted the judge in his grounds last Wednesday.

In the meantime, The Wellness Group, incorporated in Singapore in 2001, has used its TWG Tea logo since 2008.

TWG Tea has tea shops in Singapore, as well as a presence in about 10 countries, including a retail counter in the Harrods department store in London and outlets in Tokyo.

The judge noted the company's argument that it made luxury tea products and supplied the food services industry, upmarket hotels and airlines such as Singapore Airlines, indicating it was a well-known and reputable brand in itself.

Its Hong Kong lawyers denied the trademarks were "substantially identical or confusingly similar".

They said there was ample evidence to differentiate between the two and Hong Kong law allowed the use of one's own name in accordance with "honest practices in commercial matters".

But Judge Saunders was not convinced, noting Tsit Wing had held the registered trademark in Hong Kong since 2006 and in the US since 2008.

He noted that a similar move by TWG Tea to register its trademark in the US in 2009 was refused by the authorities there.

Background Story

'MISLEADING SIGN'

Judge John Saunders had harsh words for TWG Tea for using the date 1837 in its sign, when in fact the company started in 2008.

Company officials explained that 1837 referred to the year when the Chamber of Commerce was founded in Singapore, which was then an important tea trading hub. Its inclusion was meant to celebrate that year, they said.

But Judge Saunders found this was not the "real intention". He said: "There is no doubt that the existence of the date 1837 in TWG Tea's sign has led people to believe that the company was established at that time."

He noted, among other things, that Bloomberg Businessweek had published an online report in October 2011 saying the Singapore-based company was founded in 1837.

Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction.