The Hour Glass Group

The Hour Glass Limited is one of Asia Pacific's most established specialist watch retailers. From a one-boutique operation in Singapore in 1979, which was founded by Henry Tay, The Hour Glass Group has developed into a regional network of 18 retail stores in Australia, Hong Kong, Japan, Malaysia and Thailand.

The Hour Glass has opened stores in strategically located shopping belts, such as in Gayson Plaza in Bangkok, at 1 Utama in Kuala Lumpur and in Ginza, Tokyo.

Henry Tay, a medical doctor who graduated from Monash University, Australia, inherited his expertise on watches from his father Tay Tuan Kee, the oldest retailer of Rolex watches in Singapore.

"Watches are my lifeline. They are in my blood," the 60-year- old Tay was quoted by The Straits Times as saying.

Tay who once practiced in his medical clinic for two years, set up the first The Hour Glass shop in Lucky Plaza in the famous shopping area on Orchard Road.

The company, which cost S$1 million (US$625,000) when it was set up, has grown to be worth US$200 million. It has acquired some Swiss brands, such as Daniel Roth and Gerald Genta, in 1994 and 1996, respectively.

In the business, Tay was helped by his wife Jannie, a Malaysian who also graduated from Monash University and quit her job as a lecturer at the University of Singapore.

His 28-year-old son, Michael Tay, who graduated with a degree in business and international management from Oxford Brooks University in the UK, seemed intent on continuing the family business.

Tempus, the Great Watchapade, which cost US$1.5 million to organize, was Michael's idea. He wanted to set up a watch fair in Asia similar to the annual fairs in Basel and Geneva.

"If it's a success, we could run the fair every two or three years, or even annually," Michael said.

A.Junaidi