Mainboard listed Ocean Sky International Limited (“Ocean Sky”, or together with its subsidiaries, the “Group”) has entered into a conditional sale and purchase agreement (the “Agreement”) today with Luen Thai Holdings Limited (“LTHL”) and its wholly owned subsidiary, Sunny Force Limited (the “Purchaser”), for the Purchaser to acquire all of the issued share capital, together with all rights, dividends, benefits and entitlements attaching thereto, of Ocean Sky’s wholly owned subsidiary, Ocean Sky Global (S) Pte. Ltd.
A global partner of choice to successful international brands, Ocean Sky is an integrated apparel service provider from design to distribution. Established in 1995 and listed on the Mainboard of the Singapore Exchange Limited (SGX), our Group operates from our key business functions – Corporate Services, Apparel Agency and Apparel Supply Chain Services divisions.
Ocean Sky is headquartered in Singapore where our Corporate Services division is located and provides three overall support for our global operations. Ocean Sky’s success comes from our focus on product development and technology. With marketing operations in Singapore and Hong Kong, and technology-driven integrated global production units in Cambodia, China and Vietnam, Ocean Sky leverages on its design expertise, innovative materials, automation and latest fabrication techniques to deliver speed, cost efficiency, quality and innovation to its global customers.
Today, many of the world’s leading international brands choose Ocean Sky as their partner of choice. These include Gap Inc, Aeropostale, Philips Van Heusen, VF Corp., Adidas, Reebok, Puma, Columbia Sportswear, The Children’s Place, Walt Disney, Levi Strauss, Celio, H&M, United Colors of Benetton, 2 Refer to Section 5.1 of announcement released on SGXnet released on 6 January 2013 in relation to the Proposed Disposal 4Marks & Spencer, Calvin Klein, Costco, Napapijri, Lucky Brand, Carter’s, Toys R Us, C&A, Cato, Corner Stone, Guess, Lacoste, Nautica, New Balance, Reitmans, and many more.
Mainboard listed Ocean Sky International Limited's ("Ocean Sky" or "式佳国际有限公司") or together with its subsidiaries, the "Group") cost management initiative continued to prove effective as net profit for the three months ended 30 September 2012 ("3Q2012") increased 14.0% to US$5.1 million with the net profit margin up 140 basis points despite a challenging business environment.
Mainboard listed Ocean Sky International Limited (“Ocean Sky” or together with its subsidiaries, the “Group” or “式佳国际有限公司”), a fully integrated apparel supply chain provider from design to distribution, has recorded a 90.0% increase in its net profit to US$3.4 million for the three months ended 30 June 2012 (“2Q 2012”) compared to US$1.8 million for the previous corresponding period (“2Q 2011”).