TTJ Holdings

[smallcaps]

http://infopub.sgx.com/FileOpen/T%20T%20...k%20to%20S$166%20million.ashx?App=Announcement&FileID=454806

Structural steel specialist T T J lifts order book to S$166 million

SINGAPORE – 22 May 2017 – T T J Holdings Limited (“T T J” or together with its subsidiaries, the “Group”) announced today that it has secured several new contracts, bringing the Group’s order book to S$166 million as at 22 May 2017. 

Signalling the confidence that its clients continue to hold in T T J, the Group secured a second contract for the supply, fabrication and installation of structural steelworks for the Methionine Plant in Jurong Island for the same client. At the same time, the Group was also awarded the contract to supply, fabricate and install structural steelworks for the East Coast Integrated Depot, set to be the world’s first four-in-one depot for rail and bus, and another contract for the Mandai Depot. 

T T J’s Chairman and Managing Director, Mr Teo Hock Chwee (张福水) said, “We are proud to have won these projects which we view as a strong validation of T T J’s track record and reputation for quality work. Given the increasingly competitive market we face, securing these contracts is an encouraging achievement for us. We hope this will translate into better returns for our shareholders. As public infrastructure construction demand remains well-supported, we will continue to pursue more opportunities out there to boost our order book.”

[Horizon8088]

[THUMBS UP SIGN] that's a huge increase of order book fr 60mil in March. Increase of >100mil.

Sent from my SM-J510GN using Tapatalk

[Horizon8088]

http://infopub.sgx.com/FileOpen/T%20T%20...k%20to%20S$166%20million.ashx?App=Announcement&FileID=454806

Structural steel specialist T T J lifts order book to S$166 million

SINGAPORE – 22 May 2017 – T T J Holdings Limited (“T T J” or together with its subsidiaries, the “Group”) announced today that it has secured several new contracts, bringing the Group’s order book to S$166 million as at 22 May 2017. 

Signalling the confidence that its clients continue to hold in T T J, the Group secured a second contract for the supply, fabrication and installation of structural steelworks for the Methionine Plant in Jurong Island for the same client. At the same time, the Group was also awarded the contract to supply, fabricate and install structural steelworks for the East Coast Integrated Depot, set to be the world’s first four-in-one depot for rail and bus, and another contract for the Mandai Depot. 

T T J’s Chairman and Managing Director, Mr Teo Hock Chwee (张福水) said, “We are proud to have won these projects which we view as a strong validation of T T J’s track record and reputation for quality work. Given the increasingly competitive market we face, securing these contracts is an encouraging achievement for us. We hope this will translate into better returns for our shareholders. As public infrastructure construction demand remains well-supported, we will continue to pursue more opportunities out there to boost our order book.”

[THUMBS UP SIGN] that's a huge increase of order book fr 60mil in March. Increase of >100mil.

Sent from my SM-J510GN using Tapatalk

[brattzz]

gosh! this is really good news for vbs holding TTJ!! Boss Teo delivers!!

[dydx]

Boss Teo is like Superman! His record shows that TTJ's main focuses on new contracts are profits and profitability, not revenue size. If this holds true for the $100.0m plus new contracts just secured as well, I suppose we can reasonably expect more profits to come in the next 2 years.

[Horizon8088]

Q3 revenue drop while maintaining profitability. Within expectation??

Sent from my SM-J510GN using Tapatalk

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http://infopub.sgx.com/FileOpen/Announce...eID=469078

TERMINATION OF AGREEMENT FOR THE MANAGEMENT AND OPERATION OF
FOREIGN CONSTRUCTION WORKERS’ DORMITORIES AND STANDBY CONTINGENCY
HOUSING FACILITY

...

Due to the unexpected complexity in the building retrofitting works at Block 517, 521 and 525 Upper
Jurong Road, State Land Lot 319V, the Subsidiary and BCA have entered into a termination agreement
(the “Termination Agreement”) pursuant to which, the Subsidiary and BCA have mutually agreed to
terminate the Agreement with effect from 31 August 2017 in accordance with the terms and conditions set
out in the Termination Agreement (the “Termination”).

...

[brattzz]

this is the 500 bed dormitories i guess? :O

[brattzz]

http://infopub.sgx.com/FileOpen/T%20T%20...eID=471795

FY 2017
Revenue -39%
PBT -58%

Cut dividends to 0.7cts! :O
back to 2011/2012 days! :O

Boss Teo preparing for long winter?

[karlmarx]

On the surface, TTJ projects the image that it is in the structural steel business. And truly, this is the business which it is founded on, since 1981. But in the more recent years, its fortunes has been more closely tied to its dormitory business. Although the dormitory business contributes only about fifth of its revenue on most years, it contributes a higher proportion of profits.

PBT of dormitory business: Increasing over the years, until the business ended this January.

FY09: $0.1m
FY10: $4.2m
FY11: $5.1m
FY12: $6.0m
FY13: $8.3m
FY14: $11.0m
FY15: $11.8m
FY16: $10.5m
FY17: $2.2m

Percentage of PBT from dormitory business against total PBT: Ranging from a third to two thirds of profits

FY09: 0.6%
FY10: 40%
FY11: 28%
FY12: 30%
FY13: 47%
FY14: 43%
FY15: 69%
FY16: 35%
FY17: 17%

Now that the high-margin and stable dormitory business is out of the picture (for now), the market has adjusted its earnings multiple after the FY17 results confirmed that the structural steel business is lumpy in its delivery of results.

PBT of structural steel business: Profitable but lumpy.

FY09: $15.8m
FY10: $6.2m
FY11: $12.8m
FY12: $14.0m
FY13: $9.2m
FY14: $14.6m
FY15: $5.2m
FY16: $19.5m
FY17: $9.8m

How much is the structural steel business worth, and how much are you willing to pay for it?