Sarin

Sarin: Maybank-KE maintains Buy with $1.66 TP. House note that OGI Systems, a competitor, debuted their own light performance technology (LPT) called the CFire in the recent JCK Las Vegas jewellery show. But note that Sarin’s Sarine Light was first launched back in Sept 11 in the Hong Kong Jewellery Show and subsequently in May 2012 in the JCK Las Vegas Show. Sarine Light is already in the commercialisation phase with Japanese retailer CIMA adopting the technology in their stores. The JCK Las Vegas show ended with improved sentiments in the US retail market, providing the needed strength to compensate for weaknesses in Europe and the Far East. The real interest would be better gauged a few months after the show when the positive retail sentiments filter down to the rest of the market. House do not think that this new product from OGI would have any material impact as house view that Sarin is way ahead in bringing its LPT product to the market.