Osim's Brookstone files for bankruptcy

Will Osim's earnings be badly hurt?

According to OSK, the wsj yesterday highlighted that U.S. specialty retailer Brookstone, majority-owned by Osim, has filed for chapter 11 bankruptcy as a result of being unable to service its debt burden.

Here's more:

Osim had fully provided for its equity investment in Brookstone back in 2009 and more recently, made a SGD31m impairment provision for its investment in Brookstone’s preferred notes.

As such, there will not be any financial impact from this latest turn of event. On a separate note, Osim’s core business of selling lifestyle products and massage chairs is currently in tip-top shape, leading the competition in terms of brand awareness and product innovation across Asian markets.

The uDiva, replacing the widely successful UAngel, will debut today with Korean superstar Lee Min Ho as its ambassador. A new growth driver comes in the form of TWG, the premium retail tea chain which Osim secured a majority stake last year.

TWG has clearly established as a premium product and Osim intends to scale up TWG aggressively from the current 26 stores to 45 by year end. We continue to like Osim for its steady execution and upgrade our T.P from SGD2.60 to SGD3.04 based on SOTP valuation.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia