The Hour Glass Limited

The Company started in July 1979 as a subsidiary of Metro Hldgs Ltd, operating a single watch retail shop in Lucky Plaza. In 1981 Metro transferred its 51 percent share in the Company to its subsidiary, Transmarco Ltd. In 1987, the founding directors, Dr Henry and Dr Jannie Tay in joint venture with PAMA, acquired from Transmarco the entire share capital of The Hour Glass for a cash consideration of $11 million. On 5 September 1988, it turned public. Having established itself in Singapore as a premier watch boutique, the Group expanded worldwide. The Group holds exclusive agency and distribution rights to Gerald Genta, Breguet, Daniel Roth, Bertolucci, Burberrys, Christian Dior, Revue Thommen, Hublot and Montega. It is also the authorised retailer to leading brands such as Patek Philippe, Cartier, Tag Heuer, Omega, Brietling, Rolex, Jaeger-LeCoultre, Gucci, IWC, Piaget, Tudor and Raymond Weil. In 1994, it acquired majority interests in Daniel Roth SA and Gerald Genta SA. In 2000, these two companies and MHH Manufacture were divested to Bvlgari Intl Corpn NV. The principal activities of the Company are those of a holding company and the wholesaling and retailing of watches, jewellery and related products. The principal activities of the Group are those of investment holding companies, wholesalers and retailers of watches and jewellery and investment in properties.