January, 2000




1999 in Review and Prospects for the New Year

Hong Kong Annual Staff Party

People

Neil Pryde Acquires J P Australia


  

  1999 in Review and Prospects for the New Year

Shriro is 94 years old this year.

The Business was founded by Mark Shriro's grandfather in Northern China in 1906.

As the Chief Executive of the Shriro Group I am very proud to say that this Group is still a young, vigorous, expanding and profitable business as we enter the new century.

In fact 1999 has been a fantastic year of growth for our company with four new businesses and improvements in the bottom line performance everywhere versus 1998. Shriro has always been an international organization with capable people drawn from many countries operating mainly in SouthEast Asia.

Today we have successful businesses in 14 different countries on 4 continents.

The range of our products is breathtaking.

Through Neil Pryde we are the biggest sail-maker in the world. Our Imaging Company in Seattle, Ivey Seright, is the leader in the Pacific Northwest of the USA.

The list of brands that we represent identifies us as a marketer of premium products and services : -

Casio in Australia and New Zealand.

Conqueror Paper in Singapore and Malaysia.

Liebherr cranes in Hong Kong.

Nichiyu and Mitsubishi forklift trucks in Hong Kong and China.

Hasselblad cameras in Japan.

These are just some of the products that we are pleased to service.

Our main area of business is East Asia and as you all know this area suffered hammer blows in 1997 and 1998 from the crisis of confidence that started in Thailand and spread like wildfire throughout the region.

I am glad to say that we were able to record a recovery in most of our markets in 1999, particularly in consumable products.

Capital goods, however, such as trucks, cranes and engineering products have not yet resumed their previous levels of sales as the surplus capacity in our economies has not yet been eaten up.

Nevertheless, we can say goodbye to 1999 in much better shape than when we entered it and with a strong Balance Sheet, capable and experienced people everywhere and our exceptional portfolio of products we can look forward to the year 2000 with great confidence.

In 2000 we must continue to grow. In particular, we must profitably expand our top line.

That primarily means recognising change and harnessing it to meet our mutual objectives.


 

 Hong Kong Annual Staff Party

Shriro Hong Kong and Shriro Machinery finished off the century by holding their annual staff party on 16 December 1999 at the Ritz Carlton Hotel.

With a number of exciting competitions, an extensive lucky draw and some excellent Cantonese food a good time was had by all.

One of the highlights was a fashion competition among some of the younger ladies of the staff, which was very well received.

One of the highlights was a fashion competition among some of the younger ladies of the staff, which was very well received.


 

 People

1999 and early 2000 saw major changes in the Group personnel.

Mike Binns assumes responsibility for the management of our Greater China activities.

Vernon Neal adds direct responsibility for Malaysia to his Singapore responsibilities.

David Ng has retired as Managing Director of Peninsula Engineering and Equipment but will remain on as Chairman of that Group.

Albert Ng becomes Director and General Manager with special responsibility for marketing and sales, reporting to Mike Binns.

Gary Lynch has left the Group and David Wilson will act as President of Shriro Japan.

Ian Rothera has become General Manager of GELEC Hong Kong Ltd. reporting to Mike Binns.

Hideo Yamazaki, as Hon-bucho, has taken over full responsibility for our camera business in Japan. This includes photo lab equipment.

Alex Tsun has returned to Hong Kong from Japan to become CFO of GELEC reporting to Mike Binns.

Nico Wamsteker will retire as CEO of Monaco, our New Zealand subsidiary, and Dave Wenham assumes that responsibility.

Unfortunately two former executives of the Group passed away.

Jan Goldsztejn was the Regional Managing Director of the Group until the end of 1985 when David Wilson succeeded him.

Leo Kiachko ran our former business in South Korea for many years.

Both of these gentlemen, in their times, made tremendous contributions to the successful development of the Shriro Group.


 

 Neil Pryde Acquires J P Australia

Our subsidiary, Neil Pryde Limited, has acquired all rights to the JP Australia brand name.

They will commence distribution of the JP Australia boards and other windsurfing products with effect from July 1, 2000.

Neil Pryde said :

"Jason Polakow is perhaps the world's leading Wave Sailor and Jason has been sponsored by Neil Pryde since 1 January 1998.

When we decided to extend our sales and distribution into Boards, it was logical to work with Jason in developing JP Australia."

Shriro already successfully distributes J P Australia Boards in Japan and now Neil Pryde can add their important product to its distribution chain elsewhere.


 

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