Singapore’s Big Loser for the Week: Teho International Inc Ltd

Teho International Inc Ltd’s (SGX: 5OQ) shares had dropped by 14.4% in price since last Friday to end this week at S$0.137.

With Singapore’s broader market, as represented by the Straits Times Index (SGX: ^STI), increasing by 0.6% during the same period, Teho International is certainly a big loser in the market here this week.

Started in 1986 as a trader of used marine equipment, Teho has steadily expanded its business and is today an “international multi-faceted solutions provider” to the marine, offshore oil and gas, construction, and real estate industries. Last year, the company even entered the property development sector to diversify its business.

Recently, Teho had purchased two leasehold units located at 33, Ubi Avenue 3, Singapore, for S$3.7 million. The properties have a total floor area of around 6,092 square feet, with a leasehold tenure of 60 years that started in 2007.

The firm said that the acquisition “is intended to consolidate [Teho’s] property development and investment as well as property-related services businesses in a single location.”

Separately, Teho announced last Friday that it had clinched two awards at the Asia Pacific Property Awards, which “recognises and rewards the finest property, architecture and interior design in the world.”

The awards were given for Teho’s project in Phnom Penh, Cambodia called The Bay. Teho was awarded the “Highly Commended Mixed-Use Development Cambodia” and “Highly Commended Residential Development Cambodia” accolades for the integrated property development.

Lim See Hoe, Executive Chairman and Chief Executive Officer of the group, commented on the awards:

These awards are validation for TEHO International’s ambitious plans for property development in Cambodia, and are a major milestone for the Group. We are confident that The Bay will be a transformative project for TEHO International as we look to strengthen our presence in the property sector.

Not only will The Bay redefine the cityscape of Phnom Penh, it will be a new iconic masterpiece. More importantly, as our Group’s newest division is already receiving major industry recognition, it further affirms our entry into the exciting property development sector in Cambodia.”

The firm is currently selling at 13 times its historical earnings.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.