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Leung Wai Ho, Eddie
Leung Wai Ho, Eddie
Managing Director, Dailywin Watch Products Mfg. Ltd.
Sex: Male Birthyear: 1949 Age at Interview: 61 Education: Junior Secondary Occupation: Industrialist Theme: Industry Looking back his apprenticeship, Leung Wai Ho stressed that apprentices needed to be attentive, hard working and willing to climb under dirty machine tools to carry out repairs. In order to achieve something on their training, apprentices also had to be prepared to work extra hours and had to comply with the master’s every command – even when it came to buying breakfast!
Title Climbing under dirty machine tools during his apprenticeship Date 28/08/2010 Subject Industry Duration 1m8s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-001 Leung Wai Ho explained why he founded Dailywin Watch Products Manufacturing Limited in 1978. At that time Leung Wai Ho had got married and had his own family of 3 children to support, he was not content with his remuneration at Leung Lung Kee. Cheered by his customers’ encouragement, he conceived the idea of starting his own business and founded Dailywin in 1978. He obtained support from his friends and relatives and rented a 5,000-square foot half-floor plant. He later admitted that the start up was a bold attempt.
Title Starting his own business and founding Dailywin Date 21/08/2010 Subject Industry Duration 1m19s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-002 The excessive production of electronic watch movements by local manufacturers in the late-1970s pushed prices down and eventually made production unprofitable. Leung Wai Ho later found that sale of electronic watches was not satisfactory. As a result, he adopted what he felt was a safer strategy and began specialising in quartz analog watches. It allowed Dailywin a stable and healthy development.
Title Adopting a safe strategy of corporate expansion Date 28/08/2010 Subject Industry Duration 58s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-003 Leung Wai Ho claimed that his attempt to enter retailing was a “money burning” business that had cost him around $200 million between 1997 and 2003. Sadly, profits earned from overseas’ businesses were insufficient for him to “burn money” in China at such rates. In 2003, Dailywin’s retail stores in China hit a peak of 450, with goods on display having a total value of over $90 million and some 2,000 staff running shop operations and warehousing. Not knowing when returns would materialise and lacking the financial muscle to sustain heavy losses for much longer, Leung Wai Ho finally sold the retail business in 2003.
Title Failed attempt to develop sales business Date 21/08/2010 Subject Industry Duration 2m3s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-004 Leung Wai Ho explained his participation in various industry and political groups. He believed that to act in a personal capacity was an uphill struggle as it usually meant doing things without any backing. Acting under the title of an industry association, however, often made things happen more swiftly. A good example would be applying to the government for establishing the Hong Kong Watch and Clock Technology Centre in the name of HKWMA. Leung Wai Ho thought the backing of trade bodies ensured him with much respect which was favourable to individual and corporate development.
Title Participation in associations and network building Date 18/09/2010 Subject Industry Duration 1m29s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-005 From the mid-1980s, Leung Wai Ho allotted shares to his management staff, hoping that Dailywin would continue in business for a century or more. However, after the company’s 1995 listing, staff sold their shares to take profit. Leung Wai Ho now hoped that his mainland employees will stay on long-term.
Title A lifelong career in watch industry Date 18/09/2010 Subject Industry Duration 1m22s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-006 Leung Wai Ho summarized his principles of success. He stressed the importance of integrity and earnestness in doing things to this day. When developing a new product, he had three principles: "Doing things that others don’t", "Excelling in things that others do" and "Exploring new things at which others excel".
Title Three principles of success Date 18/09/2010 Subject Industry Duration 1m38s Language Cantonese Material Type Audio Collection Oral History Archives Repository Hong Kong Memory Project Note to Copyright Copyright owned by Hong Kong Memory Project Accession No. LKF-LWH-HLT-007