O.T./Ajay, here's some info on Harbour Ring. I am confused by the toy company still operating. ICGE et.al. bought over 80% -- I thought.
Harbour Ring shaping up to challenge
By a staff reporter
STORY: TOY-MAKER Harbour Ring, which last week reported an impressive 52-per-cent rise in net profit for 1999, yesterday outlined its plans to reinvent itself as a technology play.
The company said it would become a technology company in the next 12 months. It plans to become an incubator, and to acquire and build leading Asian-based companies.
The company said, in a statement, its expansion would also cover business-to-business e-commerce infrastructure companies, but gave no further details.
The move into the high-tech sector partly reflects changes in its home market, the company said, with US retailers adopting ``a cautious ordering pattern. This was mainly attributable to a combination of factors in the toy industry,' it said.
The industry was being transformed, along with the way it did business.
``The core of this change is technology. Computer chips, motion detectors and Internet links are becoming almost standard fare in toys,' it said.
``With regard to the mode of doing business, e-commerce is starting to be a new channel for (the) toy industry. As a result, orders have remained small, with short delivery lead-time during the year,' it said.
In Dongguan, the company has transformed its production line to cater for the electronic boom, converting part of its factory to make electronic and interactive toys ``to further capture the continuing popularity of technological products'.
online.hkstandard.com
Maybe I bought the wrong stock??? |
