Tee Land

[pianist]

ipo closing next week

any buddies going for a stag on this counter?

noted its pe is 'excellent'.

plus our dear mp lee is the chairman

[felixleong]

for speculators, not for value investors ^^

[mkmk]

Tee Land Revenue Increases by 276.9% to S$13.6million for 1QFY2014

- Group's revenue rose significantly on the back of progress development on current projects 91 Marshall and The Peak @ Carinhill I

- Net Profit for 1QFY2014 decreased by 22.3% to S$0.6million mainly due to increase in administrative and other operating expenses which were offset by the increase of share of results of associates

- The Group has contracted sales of S$66.0million (excluding joint ventures projects) for its on-going residential property development projects in Singapore while its associates have also contracted sales of S$9.7million in Thailand

http://infopub.sgx.com/FileOpen/TEELAND-...eID=259222


Not vested

[greengiraffe]

Works out to be A$199,000 per key for a 3 star hotel

http://infopub.sgx.com/FileOpen/TEE%20La...eID=297463

Airport hotel sale yields $24m for Malaysian family

LISA ALLEN THE AUSTRALIAN MAY 17, 2014 12:00AM

A Qantas Airways Ltd. plane takes off from Sydney's Kingsford Smith Airport in Sydney, Australia, on Thursday, January 4, 200...
Airport hotels have long been regarded as one of the most profitable hotel operation models. Source: Supplied
MALAYSIA’s Mah family has reaped nearly $24 million from the sale of the Airport Sydney International Inn to a Singapore and Australian joint venture party.

The buyer, TEE Hospitality in a joint venture with investor ­Julian Clark, is expected to refurbish the three-star hotel fronting 33 Levey Street, Wolli Creek.

Airport hotels have long been regarded as one of the most profitable hotel operation models, said selling agent, Jones Lang LaSalle vice-president Peter Harper, yesterday.

“As such, they are always highly sought investments and in recent years we’ve undertaken transactions in the Brisbane, Melbourne and Darwin airport precincts.”

Mr Harper, who negotiated the sale with JLL’s Mark Durran, said the last major hotel transaction around Sydney Airport, which recorded about 38.2 million passenger movements last year, occurred in 2002.

The 120-room hotel was bought through JPJ Properties, which is 90 per cent held by TEE Hospitality and 10 per cent by the Clark family, owners of the Lancemore Group, a local entity with more than 25 years’ experience in hospitality and conference venues.

“The acquisition is part of the group’s strategy to build up a portfolio of recurring income-generating assets in developed markets such as Australia and New Zealand that provide short to mid-term accommodation to end users. ‘’

In addition, the hotel is located in a “high-density residential zone and possesses future redevelopment opportunity,” according to TEE Hospitality’s statement to the Singapore stock exchange.

[greengiraffe]

Sydney airport hotel to sport Quality brand
THE AUSTRALIAN AUGUST 14, 2014 12:00AM

Lisa Allen

Property & Tourism Reporter
Sydney
HOTEL PENALTY RATES
Choice Hotels Australasia CEO Trent Fraser says Choice has struck its first franchise agreement in China. Picture: David Geraghty Source: News Corp Australia
THE Airport Sydney International Inn is set to be rebranded following its $24 million sale to a Singaporean-Australian joint venture.

The new owners of the 170-room hotel, JPJ Properties, which is 55 per cent held by Singapore’s TEE Hospitality and 10 per cent by the Clark family, owners of the Lancemore Group, have taken the franchise option, choosing to rebrand the 3.5 star property as the Quality Hotel CKS Sydney Airport for at least the next 10 years.

The hotel, which will undergo a minor refurbishment, was sold by Malaysia’s Mah family through Jones Lang LaSalle vice- president Peter Harper in May.

Trent Fraser, Choice Hotels Australasia chief executive, said Chinese and Southeast Asian investors were continuing to invest in Australian hotels.

Choice, which is listed in the US and has a network of 270 hotels in Australia, New Zealand and Singapore, including the Quality brand, has struck its first franchise agreement in China.

“We have signed an agreement with a Chinese-backed development group, Bodi Group, who are going to develop 30 new hotels across the eastern part of China using the Quality and Clarion brands with the first one opening in 2016,” Mr Fraser said in an interview. “They will leverage off our brand under a franchise agreement, they wanted an international brand, it’s a long-term master partnership.”

Mr Fraser would not disclose the financial terms of the deal but said Bodi Group had signed to use the Choice brand for at least five years. The hotels will have at least 300 rooms and are slated for development across eastern China.

All up there are 6200 global hotels in the Choice network.

Meanwhile, Sydney-based hotel investor Jerry Schwartz is believed to be selling his Holiday Inn Sydney Airport hotel as he prepares to buy the International Convention Centre at Darling Harbour, which is under construction by Lend Lease.

An announcement is expected late next week. Dr Schwartz declined to comment.

[greentea]

http://businesstimes.com.sg/companies-ma...32-million

Tee Land sets up JV to buy Diamant Hotel in Sydney for A$23.2 million
By Lee Meixian leemx@sph.com.sg @LeeMeixianBT
26 Dec6:12 PM

TEE Land said on Friday that it is setting up a joint-venture (JV) company called Potts Point Hospitality with two partners: Peter & Jan Clark (Levey Street), and Kenmooreland. An initial paid-up capital of A$100 (S$107.32) will be invested in the JV to buy Diamant Hotel in Sydney, Australia.
...

[cyclone]

Besides AGM and EGM, more companies should organize such event. Hope that there are foods for makan makan (dinner).

TEE Land Limited cordially invites shareholders to its Inaugural Shareholders' Forum.
The management of the company will present on its business overview followed by a Q & A session.
Date : Wednesday, 20 January 2016
Time : 5.30 pm (Registration starts at 5.00 pm)
Venue :  Arts House, 1 Old Parliament Lane Singapore 179429 (Chamber Room)

Please note:
* Open to TEE Land Limited shareholders
* Please bring proof of shareholding or national identification card for verification purposes
* RSVP to Ms Jia Rui, jia.rui@teeland.com.sg

[pianist]

Saliva dripping... too bad not vested

[cyclone]

Acquisition of Land at 338 To 364 Upper East Coast Road

TEE Land Limited announced that it has entered into an option-to-purchase agreement to acquire the freehold interest in a plot of land located at 338 to 364 Upper East Coast Road, Singapore with a land area of approximately 3,928.8 square metre. The purchase consideration is S$60,000,000, negotiated on a willing-buyer-willing-seller basis. The sellers are independent and unrelated third parties.

The plan is to build residential development on the Land. The Proposed Acquisition is subject to due diligence and is expected to be completed by November 2018.

The Proposed Acquisition will be financed by internal funds and bank borrowings, and is not expected to have any material impact on the Group’s net tangible assets or earnings per share for the financial year ending 31 May 2019.

[cyclone]

Financial Results for the Financial Year Ended 31 May 2018 ("FY2018")

Highlights :
1, FY2018 revenue increased by 18.2% to S$111.9 million (FY2017: S$94.7 million)
2, FY2018 gross profit rose by 10.4% to S$25.8 million (FY2017: S$23.3 million)
3. Loss before tax of S$4.7 million for FY2018 (FY2017: profit of S$3.3 million)
4. Loss after tax of S$4.9 million for FY2018 (FY2017: profit of S$0.3 million)
5. The Group would have recorded profit before tax of S$5.4 million for FY2018 if one-off non-cash items were excluded
6. As at 31 May 2018, the Group’s total assets rose by 9.8% to S$460.7 million (31 May 2017: S$419.5 million)
7. As at 31 May 2018, quity attributable to owners of the Company declined by 3.5% to S$151.5 million (31 May 2017: S$157.1 million)
8. Loss per share for FY2018 was 1.11 cents (FY2017: 0.23 cents)
9. Net assets per share as at 31 May 2018 stood at 33.9 cents (31 May 2017: 35.1 cents)
10. Declared a final one-tier tax-exempt dividend of 0.15 cents per share for FY2018.

More details in :
1. http://infopub.sgx.com/FileOpen/TEE%20La...eID=517533
2. http://infopub.sgx.com/FileOpen/TEE%20La...eID=517534