Vriddhi Consulting

Punit Khanna

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>Strong Results for the full year with revenues up 15%</li>
<li>Profit excluding fair value gain on investment properties was up 17%</li>
<li>The company has been buying back shares, which we think is a good way to deploy capital rather than investing in properties</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-special-needs-persons-in-singapore" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Strong Results for the full year with revenues up 15%
Profit excluding fair value gain on investment properties was up 17%
The company has been buying back shares, which we think is a good way to deploy capital rather than investing in properties

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

<ul>
<li>Singapore based luxury watch retailer with regional presence in Asia and Oceania.</li>
<li>Business has got moat as  luxury watch makers control supply, prices and dealerships</li>
<li>Rolex and Patek Philippe are main drivers of revenue and profits  and are growing</li>
</ul>
    <div class="content-highlight">
    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
    </div>
    


Singapore based luxury watch retailer with regional presence in Asia and Oceania.
Business has got moat as  luxury watch makers control supply, prices and dealerships
Rolex and Patek Philippe are main drivers of revenue and profits  and are growing

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

<ul><li><p><a href="https://finance.yahoo.com/quote/AGS.SI/?ref=asiancenturystocks.com" target="_blank" rel="noopener">The Hour Glass</a> (HG SP — US$1.1 billion) is a Singapore-based luxury watch retailer focused on the sale of Rolex watches.</p></li><li><p>It currently has 72 stores across Singapore, Thailand, Australia, Vietnam, Malaysia, New Zealand, Japan and Hong Kong. You can think of it as a luxury watch retailer focused on Southeast Asia.</p></li><li><p>Rolex accounts for the vast majority of revenues and profits. But it also serves other luxury brands, including Patek Philippe, Audemars Piguet, and Omega.</p></li></ul>

The Hour Glass (HG SP — US$1.1 billion) is a Singapore-based luxury watch retailer focused on the sale of Rolex watches.It currently has 72 stores across Singapore, Thailand, Australia, Vietnam, Malaysia, New Zealand, Japan and Hong Kong. You can think of it as a luxury watch retailer focused on Southeast Asia.Rolex accounts for the vast majority of revenues and profits. But it also serves other luxury brands, including Patek Philippe, Audemars Piguet, and Omega.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>Over five trading sessions through 23 July, 13 companies repurchased S$22.5 million of shares, led by UOB's S$13.4 million buyback.  </li><li>KGI Securities initiated coverage on The Hour Glass with an Outperform rating, highlighting strong cash generation and debt-free status.  </li><li>Earnings season in Singapore sees focus shift to AI and digital solutions for productivity and competitiveness enhancement.</li></ul>

Over five trading sessions through 23 July, 13 companies repurchased S$22.5 million of shares, led by UOB's S$13.4 million buyback.  KGI Securities initiated coverage on The Hour Glass with an Outperform rating, highlighting strong cash generation and debt-free status.  Earnings season in Singapore sees focus shift to AI and digital solutions for productivity and competitiveness enhancement.

UOB, Singtel & The Hour Glass lead Buybacks

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,400+ insights shared on Smartkarma.</li>
<li>In this cut, we look at where value remains in a difficult year for luxury, review momentum in offshore services, and assess two sides of the insurance sector. </li>
<li>Want to dig deeper? Comment or message with the themes you'd like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,400+ insights shared on Smartkarma.
In this cut, we look at where value remains in a difficult year for luxury, review momentum in offshore services, and assess two sides of the insurance sector. 
Want to dig deeper? Comment or message with the themes you'd like to see highlighted next.


Curator's Cut: Luxury Losing Lustre, Offshore Revived & Insurance's Two Sides

Singapore

The Hour Glass is a Singapore-based luxury watch retail group that also deals in jewelry and luxury properties. It operates over 70 boutiques across Asia-Pacific, serving as an official retailer for prestigious watch brands like Rolex, Patek Philippe, and Omega. The company was founded in Singapore in 1979.

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The Hour Glass (HG SP)

The Hour Glass: Strong Results

Company reports strong full-year results with 15% revenue growth and 17% profit increase. Valuations remain reasonable.

Punit Khanna

The Hour Glass Limited (HG SP)

Luxury watch retailer in Singapore thrives on exclusivity and strong partnerships with top brands like Rolex and Patek Philippe, driving revenue...

Punit Khanna