HTL INTERNATIONAL HOLDINGS LIMITED
Previous company name
HWA TAT LEE HOLDINGS LTD
Name change date
HTL International Holdings Limited is an investment holding company engaged in the manufacture and distribution of branded leather sofa products; tanning and distribution of leather; designing, cutting and sewing of finished leather or fabrics; and trading of fabrics and home furnishings in Singapore and in other countries. The company was founded by the Phua brothers in 1976. Its registered head office is located in Singapore City, Singapore. The company is publicly traded on the Singapore Exchange under the stock code H64.
HTL International Holdings serves as one of the leading manufacturers of leather sofas and leather upholstery hides worldwide. The company operates its business in four divisions: Sofa, which is involved in the manufacture and distribution of leather sofa and upholstery products; Leather, which is involved in the tanning (process of converting animal skin into leather) and distribution of finished leather for in-house consumption and external customers; Cut and Sew, which is involved in the cutting and sewing of finished leather and fabrics; and Home Furnishing, which is involved in the provision of customized home furnishing and design solutions via direct retailing or franchising.
HTL International Holdings has fully integrated manufacturing facilities in China, Malaysia and Singapore. The company markets its products in Singapore, Malaysia, Japan, Taiwan, China, the United Kingdom and the United States of America. It is committed to satisfy its customers; to understand the needs of its partners; and to the continuous growth and development of the company.
HTL International Holdings has partnership with G Laauser GmbH & Co., a leading German furniture manufacturer; and Musterring AG, a global company that manufactures and distributes furniture and furnishings.
The Company is principally an investment holding company with the core business of its Group in the manufacturing of leather and fabric upholstered furniture. Its other business are trading of leather and fabric materials, and the retailing of quality furniture.
Description and history
The Company’s origins go back to 1976, when it started out as a small furniture manufacturer. Founded by the three brothers – Phua Yong Pin, Phua Yong Sin and Phua Yong Tat — the Company has risen from humble beginnings to become one of the world’s leading leather tanners and manufacturers of leather upholstery.
The Company was listed on the main-board of the Singapore Exchange in 1993. Supported by seven manufacturing facilities located across Asia, the Company exports more than 95% of its production output to 24 countries across four continents. It operates sales and marketing offices in nine key markets.
The Company is vertically integrated and possesses manufacturing facilities ranging from leather tanning, to cut-and-sew, to the design and manufacture of leather upholstery. This provides the Company with a well inter-linked leather tanning and upholstery value supply chain which is the Group’s major competitive advantage.
1976: The 3 Phua brothers started the sofa business at Lowland Road.
1981: Signed a manufacturing license agreement with G Laauser GmbH & Co of West Germany.
1986: Started exporting leather upholstery to Japan, Hong Kong, and Australia.
1989: Started the first overseas sofa manufacturing operations in Kulai, Malaysia.
1990: Sofa manufacturing operations in Singapore were consolidated under one roof at the Company’s own 11,000 msq building at 12 Kallang Way; Opened the Company’s first leather upholstery retail outlet in Singapore.
1991: Received venture funds totaling S$8.8 million.
1992: Moved into new 14,000 msq sofa manufacturing factory at Kulai, Malaysia.
1993: Listed on the Main Board of the Stock Exchange of Singapore; Signed product licensing agreement with Musterring International, West Germany; Selected as a role model by National Productivity Board (NPB) in their On-The-Job training (OTJ) programme for the industrial sector.
1994: Commercial Leather tanning operations in Singapore and third sofa manufacturing operation in Kunshan, China.
1996: Established in Tokyo and Osaka, Japan, a 100% localized operation to import and wholesale leather upholstery.
1999: Commenced more active participation in the major international furniture fairs overseas; Established leather upholstery showroom at High Point-North Carolina, the furniture hub of USA; Awarded ISO 9002 certification for sofa manufacturing plant in Kunshan, China.
2000: Developed a new integrated 21,000 msq tannery and sofa manufacturing facility at the Company’s second Kunshan site; Changed its name from Hwa Tat Lee Holdings Ltd to HTL International Holdings Ltd and revamped its company logo.
2001: Declared bonus share issues of 1 for 2; Completed closure of all retail operations as part of the re-focus on B2B; achieved best ever result in its 25-year history.
2002: Commenced building the Company’s third tannery at Yangzhou, China; Launched the company’s cut-and-sew sales programme; established sofa manufacturing facility in Changshi, China; Morgan Stanley Private Equity invested 15.5% stake in the company; Listed on ‘Best under a Billion’ Forbes Global’s 200 Best Small Companies for 2002.
Was founded by the Phua brothers
Investment holding company engaged in the manufacture and distribution of branded leather sofa products; tanning and distribution of leather; designing, cutting and sewing of finished leather or fabrics; and trading of fabrics and home furnishings in Singapore and in other countries
DOMICIL MЦBEL GMBH
ERNST & YOUNG LLP
US SIC Code
11, Gul Circle
City province or state postal code
Phone: +65 67475050
Fax: +65 67477584
Country address: SINGAPORE
Website url: www.htlinternational.com