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We are the largest music and visual products retail chain store operator by number of stores in Singapore. As at the Latest Practicable Date, our Group operates a chain of 21 Sembawang Music retail outlets offering Audio CDs, DVDs, VCDs and related audio and visual products and a separate outlet called “Audiophile” which also retails Audio CDs, DVDs and VCDs, with a combined gross floor area of approximately 16,364 sq. ft.. Our outlets are strategically located at major shopping centers in different parts of Singapore. Our Group’s retail business is currently limited to Singapore.
Our CEO, Boo Hee Chiang, together with two partners, started our business operations in October 1986 as a partnership under the name of Sembawang Music Centre with a retail outlet of approximately 350 sq. ft. in floor area at Sembawang Shopping Centre selling music cassettes to retail customers in Singapore. In mid-1987, Boo Hee Chiang acquired his partners’ shares in the business and became the sole proprietor of Sembawang Music Centre.
In 1988, seeing an increase in the popularity of Audio CDs in Singapore, Boo Hee Chiang streamlined the business to concentrate on the sale of Audio CDs. Sembawang Music Centre was subsequently corporatised with the incorporation of SMC on 15 October 1993. The business operations were thereafter carried on under SMC.
During the period between 1993 to 1997, Laser Discs were introduced into the Singapore market and the business was diversified to concentrate on the sale of both Audio CDs and Laser Discs. Subsequently in 1997, with the introduction of DVDs and VCDs to the Singapore market and a fall in popularity of Laser Discs, our business operations were again streamlined to focus on the sale of Audio CDs, DVDs and VCDs.
With the growth of our retail business, we had also since 1994 expanded our network of retail outlets in Singapore. As at the Latest Practicable Date, SMC had a chain of 21 retail outlets with combined gross floor area of approximately 16,364 sq. ft.
In 2001, SMC also opened a niche retail outlet selling high end Audio CDs called “Audiophile Heaven”. The outlet was renamed “Audiophile” in July 2004. Our Audiophile retail outlet currently also retails Audio CDs, DVDs and VCDs. On 18 February 2000, Orange Music was incorporated and set up with a view to producing, marketing and retailing Audio CDs produced under our own in-house labels. It was also intended for Orange Music to carry out the business of the wholesale and distribution of Audio CDs in Singapore. Since incorporation, Orange Music has secured distribution rights to distribute various Audio CD labels in Singapore, Malaysia, Thailand and other countries in Asia.
In 2002, having successfully established its retail business, SMC commenced exporting Audio CDs on a wholesale basis to customers located in various countries in different parts of the world. In early to mid-2003, the business of SMC and Orange Music were streamlined, with SMC concentrating solely on the retail of Audio CDs, DVDs, VCDs and related audio and visual products in Singapore and Orange Music focusing on our Group’s distribution and wholesale business. |
