|
|
|
|
|
|
|
Tough Trading Conditions
Tough trading conditions face us, and all the companies in the group need to prepare for the challenges ahead. With Japan and the USA in severe slowdown, and Europe sure to follow, the next 12 months are going to be a rough ride for us all. The only consolation is that our competitors will face an equally hard time.
On the whole, though, we have had a moderately successful first half of 2001, but more importantly acquired a new business in Australia, and taken on some new agencies, details of which follow.
The end of April saw the retirement of our Group CEO for the past 16 years, David Wilson, and the opportunity was taken of holding a Shriro Group managers meeting in Hong Kong. An extensive review of the group companies was made, plus we had the opportunity to visit one of the Neil Pryde factories in Shenzhen, China.
As we look forward to the second half of 2001 we must reflect on the basics, control of inventories and prudent extension of credit. If we can keep these two fundamentals under strict control, we should not have too many problems.
Best wishes
Mike Binns
GE Appliances Press Release - 15th June, 2001
GENERAL ELECTRIC APPLIANCES NEW AUSTRALIAN AND NEW ZEALAND DISTRIBUTORS
Louisville, Kentucky (USA) June 15, 2001 - General Electric (NYSE: GE) Appliances has announced today that Shriro Australia Pty Limited, has been appointed to distribute its major home appliance products in Australia, effective July 1, 2001.
GE's new distribution agreement with Shriro coincides with GE's launch of a new generation of Side X Side refrigerators, which have been under development for more than three years, along with a new line up of Stainless Steel Top Mount refrigeration products.
"We have been impressed with the significant gains in the market share Shriro have achieved for their own brands," said Tony Beale, GE General Manager for Australia and New Zealand. "Shriro's proven marketing strategies and expertise in client relationships - with distributor partners and retailers - offer the GE brand a competitive advantage that will greatly assist us in growing our business in Australia." According to Beale, Shriro also began distributing GE home appliance products in New Zealand in January this year. "Having the same distributor on both sides of the Tasman, has real advantages and results in substantial efficiencies," said Beale.
GE major home appliance products joins Shriroˇ¦s offering of other well-known brands including Casio, Moulinex and Krups.
Shriro Managers Meeting - 3rd/4th May, 2001
In conjunction with Mark Shriro's regular bi-annual visit to the region a Shriro Group Managers Meeting was held in Hong Kong. An extensive review of the companies activities was carried out, and a visit to one of the Neil Pryde factories was undertaken. A useful two days of net working, and the view was to hold a Controllers meeting in 2002.
EVERDURE
Shriro Australia Pty Ltd. has acquired the business of Everdure, in Perth, Western Australia, with effect from 1st June, 2001. Everdure is a manufacturer of gas fired room heaters, gas and electrical water heaters, and wood trolley gas barbecues.
Everdure is a well established brand name in Australia, and the line compliments the growing and important appliance range of products handled by Shriro in Australia.
Commenting on the acquisition, the Managing Director of Shriro Australia, Mike Westrup, said he was excited about the new line and felt it has great potential for brand extension and would be better serviced by an east-coast distribution network. He also felt that the line of room heaters showed great potential for model upgrades and that the management team taken over with Everdure had plenty of new ideas and suggestions for product improvements.
P.E.E. 30 Years Anniversary
On Friday , 6th July, 2001 the Peninsula Engineering group (PEE) celebrated its 30th Anniversary of its founding. PEE, which has been a part of the Shriro Group for the past seven years, is a leading forklift truck and materials handling supplier in Hong Kong and China. Mr. Albert Ng, Director and General manager, handed out long service awards to a number of the staff, some who had been with the company for more than 20 years.
One of our major suppliers, Mitsubishi Caterpillar Forklift trucks, was represented by its Managing Director, Mr. Hiroyuki Shimma. PEE's Chairman and founder, Mr. David Ng was also present at the celebrations.
New BALLY Shop in Kuala Lumpur
Shriro (Malaysia) Sdn. Bhd., the retail agent of Bally of Switzerland in Malaysia recently opened its newly re-located shop in Kuala Lumpur. The shop is on the prestige brand floor of the Suria KLCC Shopping Mall, located at the base of the Petronas Twin Towers, the world's tallest buildings.
|
