Images from annual report of Plastoform.Plastoform Holdings' recently published 2012 annual report carried very promising news that the company's application to be taken off the SGX watch-list would be granted "in the coming weeks". Ok, let's see..... The forecast was made by Tse Kin Man, its Executive Chairman, who also described his company as being a global leader in its industry and had correctly anticipated a new market for Bluetooth speakers. The following are excerpts from his message >>
FY2012 was particularly meaningful as we delivered our first year of operation with net profit
since our Group was placed on the SGX Watchlist on March 3, 2010. With this achievement,
our Group has fulfilled the primary criteria for the removal from the SGX Watch List and we
are humbly confident that our application for the same will be granted in the coming weeks.
Since its founding, Plastoform has led its industry with its product innovation. We were the first to produce multimedia / PC speakers in the 1990s, docking speakers for the iPod in 2005, and most recently, high performance mobile Bluetooth wireless speakers.According to the projection of Consumer Electronics Association, global gadget spending
on electronics to be surpassed US$1.1 trillion in 2013, revenue growth in wireless products
is expected to be strong this year.
Our competitiveness and success will be built on this continuing development across the consumer electronics market as well as the Group’s boldness to identify nascent technological and consumer trends.
Our competitiveness and success will be built on this continuing development across the consumer electronics market as well as the Group’s boldness to identify nascent technological and consumer trends.
Three years ago, we anticipated that the growing demands of wireless speaker systems
would outweigh docking units. We invested our Bluetooth R&D efforts, making our Group one of
the early pioneers in the design and development of the Bluetooth speakers.
In line with our expectations, our efforts paid off as the Bluetooth wireless module that we had researched and developed in 2011 proved extremely successful, well-positioned our Group to benefit from the global demand of wireless Bluetooth technology as an enhancement or solution to mobile devices.
In line with our expectations, our efforts paid off as the Bluetooth wireless module that we had researched and developed in 2011 proved extremely successful, well-positioned our Group to benefit from the global demand of wireless Bluetooth technology as an enhancement or solution to mobile devices.
Our edge is the combination of our extensive manufacturing background and innovative
designs to produce compact high performance audio products, that allowed us to secure several
substantial contracts from existing and new renowned global customers.
Apart from the hottest Bluetooth portable speakers, our vision is to enhance the mobility life
of consumer with our innovative products. We will spice up our product portfolio with wireless
personal headset, smart applications enable data exchange and communication across
Bluetooth devices, security systems feature with remote activation of facilities and appliances
in smart homes.
Our strategy is not only react to market but to create new market segments with interesting and smart applications, produce products advance to markets well before our rivals aware. Victorious in both technology and creativity advance.
In fact, wireless and mobile audio streaming devices are in the early stages of the product life cycle and will soon replace the iPod docking speaker. As a strong design and manufacturer of this product category we will remain as a leader in the industry. By the time of wide acceptance in the market, the effort and investment we made in the past will be fully rewarded. It means that the time of harvest is yet to come. Our exceptional design and engineering capabilities, and effective manufacturing process of this product category, will ensure that Plastoform remains a leader in this field.
We are confident that the full potential of our internally researched and developed Bluetooth wireless module will be realised as we continue engage new and existing customers to strengthen our order book and increase our share of the market.
Our strategy is not only react to market but to create new market segments with interesting and smart applications, produce products advance to markets well before our rivals aware. Victorious in both technology and creativity advance.
In fact, wireless and mobile audio streaming devices are in the early stages of the product life cycle and will soon replace the iPod docking speaker. As a strong design and manufacturer of this product category we will remain as a leader in the industry. By the time of wide acceptance in the market, the effort and investment we made in the past will be fully rewarded. It means that the time of harvest is yet to come. Our exceptional design and engineering capabilities, and effective manufacturing process of this product category, will ensure that Plastoform remains a leader in this field.
We are confident that the full potential of our internally researched and developed Bluetooth wireless module will be realised as we continue engage new and existing customers to strengthen our order book and increase our share of the market.
The priority goal of 2013 is to ensure Plastoform’s lasting success. We again aim to achieve growth by broadening our product portfolio, controlling cost and returning cash to our shareholders.
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