from what i recall, they only accept 1 or 2 sponsored students per year, and vouched for / endorsed by a swatch employee...and then you will be bonded with swatch group for 2years...
the alternative is to pay something like rm200k for the course.
and no, i dont know anyone who came from that school.
and yes, from the course structure as listed on the website - it is pretty obvious they are being trained to be watch makers.