Over 300 employees of Singapore-based Paradise Group have been rewarded with luxurious gifts as appreciation for their loyalty to the restaurant operator.
Today Online reported that 330 employees were granted various gifts, such as gold bars and Rolex watches, during the company's annual dinner and dance on Monday (March 6).
As per the report, 98 employees who served the company for more than a decade received Rolex watches that were procured from authorised dealers.
Another 255 staff members who served the company between five and nine years received gold bars, according to the report.
Those who worked for the operator between five and seven years received gold bars weighing 2.5g, while those who worked for eight and nine years received gold bars weighing 5g. Each 2.5g gold bars has a value of around $240, according to Today Online, while the 5g gold bars are worth $450 each.
Meanwhile, eight employees who have been working for Paradise Group for 15 years will receive travel vouchers worth $5,000, Today Online reported. These staff members have also received their own Rolex watches during their 10th year with the organisation.
The company's act of gift-giving coincided with its 14th anniversary celebration held at the Marina Bay Sands Grand Ballroom, which cost $2 million, The Straits Times reported.
While the Paradise Group is on its 14th year, it opened its first outlet Seafood Paradise as early as 2002. Now, it has over 1,300 employees and partners and is operating well-known F&B brands such as Taste Paradise, Paradise Dynasty, KungFu Paradise, among others.
Rewarding employees
Reports of luxurious gifts to employees has been happening across the world over the past years for various reasons, from loyalty to company milestones.
In India, five loyal employees of tech firm KissFlow Inc. received BMW 530d cars in the company's 10th year in 2022. In Australia, 41 lucky employees of Hanco*ck Prospecting received a cash bonus of $100,000 as the company's executive chairperson Gina Rinehart marks her 41st year with the firm.
In the US, underwear company Spanx rewarded each employee with two first-class plane tickets to anywhere in the world in 2021, in addition to a $10,000 bonus, as the organisation celebrated a $1.2-billion deal with Blackstone.
Rolex SA (/ˈroʊlɛks/) is a Swiss watch designer and manufacturer based in Geneva, Switzerland. Founded in 1905 as Wilsdorf and Davis by Hans Wilsdorf and Alfred Davis in London, the company registered Rolex as the brand name of its watches in 1908 and became Rolex Watch Co. Ltd. in 1915.
watches were given to staff who had served the company for at least 10 years, regardless of position. SINGAPORE — You may not be able to walk into a store and buy a Rolex watch, but for 98 long-serving Paradise Group employees, it was the company's reward to them for a decade of hard work.
Rolex watches never go out of style and can be counted on to be a good investment If kept in tip-top condition. Rolex watches make beautiful heirlooms to pass down the generations, from grandfather to father to son.
If so, you may be wondering, do Rolex watches appreciate over time? You may be happy to learn that, generally speaking, yes, a Rolex watch will hold its value or increase in value over time.
On average, Rolex watches command a 20.3% secondary market premium, while Patek Philippe watches sell for 39% over retail and Audemars Piguet models can be resold for with a 14% return. Outside the big three, the vast majority of watches are sold at a discount on the secondary market.
No. However, I can surmise that high profile celebrities will be given their watches to wear at big events like the Oscars, whether they are for keeps, who knows. Again celebs that spend mega amounts with their jewellers could be gifted something from them, but probably not the brand.
Today, the average length of job tenure is roughly five years and the price of gold hovers near $1,600 an ounce, a pricey change that would either put more companies out of business or see more watches end up in a pawn shop. Smart phones and active retirees are also pushing the gold watch to extinction.
Our study showed that the average age of the average Rolex owner is 68, with male owners outnumbering women almost two to one. Their numbers are overwhelming. 66% of the people in our survey are aged over 65 and only 1.5% under the age of 35.
When an employee gives long service to a company – back when this actually happened – they might be gifted a watch on their retirement, a tradition said to have been started by Pepsi Co. in the 1940s. Crucially, the watch was almost always in gold. The Omega Ultra-Thin gifted to JFK before he won the presidency.
The GMT Master and GMT Master II. Rolex GMT Master and Rolex GMT Master II are the best Rolex watches for investment. They are practical and hardwearing watches with the prestigious Rolex branding. You can get a GMT Master at a few thousand pounds, but rarer models can go for tens or hundreds of thousands.
Frequently Asked Questions About Cheap Rolex Watches
Even the cheapest Rolex watch will cost around $5,000. Rolex is a luxury watch brand, so while collectors pay to wear a brand name, they also pay for quality Swiss craftsmanship designed to remain in perfect working condition for generations.
Because gold is generally more liquid than luxury watches, you're probably not going to easily find gold bars or gold coins for sale at significantly less than the spot price of gold per ounce. In contrast, sometimes luxury watches present good buying opportunities precisely because of their more limited liquidity.
Thanks to the tax-free status, watches can be more affordable in Dubai. While the initial or retail price might seem similar to UK prices, the absence of VAT often makes the overall cost lower.
Before being worn for the first time, or if it has stopped, a Rolex watch must be wound manually in order to function correctly and precisely. To wind the watch manually, unscrew the winding crown completely, then turn it several times clockwise (turning in the other direction has no effect).
If you're attending an interview and you already own a Rolex, for example, one individual on the forum suggested that you're probably best-off putting it on. “Wear your Rolex on your interviews. It would be way more uncomfortable if they didn't see it until after you started a new position,” he said.
Introduction: My name is Margart Wisoky, I am a gorgeous, shiny, successful, beautiful, adventurous, excited, pleasant person who loves writing and wants to share my knowledge and understanding with you.
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