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Cortina dominates sector awards; Challenger Technologies and Food Empire hold their own

The Edge Singapore
The Edge Singapore9/10/2021 07:00 AM GMT+08  • 2 min read
Cortina dominates sector awards; Challenger Technologies and Food Empire hold their own
Cortina dominates sector awards; Challenger and Food Empire hold their own.
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Luxury watch retailer Cortina Holdings has emerged as the overall winner for the companies in the F&B and retailers sector of this year’s Centurion Club. With a compounded annual growth rate of 38.5% of its share price over the three financial years taken into consideration for this year’s awards, Cortina took home the best returns to shareholders category too.

Founded in 1972 by chairman and CEO Anthony Lim, Cortina has established itself as a brand synonymous with impeccable, high-quality timepieces, renowned amongst discerning individuals. Over the years, Cortina steadily expanded its network of retail outlets, seeking opportunities in countries and cities with high growth potential, while augmenting and strengthening its presence in Singapore, Malaysia, Thailand, Indonesia, Hong Kong and Taiwan. It now has 24 boutiques located in the major cities in these markets.

See also: Cortina Holdings sees 23% higher 2H21 earnings of $25.0 mil; reports stable earnings of $39.6 mil in FY21

Another household name, homegrown retailer Challenger Technologies, won the best weighted ROE category this year. As one of the largest retailers of IT and consumer electronics products, Challenger is the go-to place for many gadget fans. It was founded in 1982 by executive director and CEO Loo Leong Thye, Challenger has expanded to some 40 different stores across the whole of Singapore.

Finally, Food Empire, which is known for supplying coffee and other beverage products, has been named the winner for having the fastest earnings growth in the three years under consideration for this year’s awards. The company, led by executive chairman Tan Wang Cheow, has built a global business. From its seven manufacturing facilities in Malaysia, India, Vietnam, Russia and Ukraine, Food Empire exports to more than 50 different markets, such as Russia, Vietnam, Ukraine, Kazakhstan, Central Asia, the Middle East, China, Mongolia and North America.

Besides the MacCoffee brand of instant coffee it is known for, Food Empire offers other beverages such as fruit-flavoured tea, hot chocolate and breakfast cereal beverages. In addition, it sells frozen finger food and confectionery too, including shrimp dumplings, chicken gyoza and yakitori sticks.

Photo: The Edge Singapore

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