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Tee International
30-08-2019, 06:16 PM.
Post: #11
RE: Tee International
Anyone else monitoring this stock? Did some basic research with the recent price. I bought in at 30c in 2013 but kept being given empty promises by management during AGM. Felt that minority shareholders are being cheated out of hard earn money. 

Perhaps these are questions the management should answer during next AGM

  1. Past 2 years huge losses with now amounting to almost market cap of company. Share price have been tanking since early this year.
  2. Real Estate and Construction extremely bad sector which is the core business of TEE
  3. Taking up plenty of expensive debt (not just cheap) to keep company moving. (>10% cost) Their debt levels also very scary and sources are not conventional? ie. related party transaction such as advance from Directors stated in Annual report.
  4. Total Debt to EBTIDA approaching 3 digits (taking a century to pay off debt via EBITDA levels) 
  5. Annual report you can see fixed salary of CEO and other key executives increase every year (after lack of variable bonuses) even when there are bad years. in percentage terms skyrocketed. 
  6. Previously wanted to privatize the company at 20c by convincing people to sell back to company but later on issued rights to encourage equity participation 
  7. Aggressive revenue recognition tactics. Revenue growing increasingly but high payables and lack of cash flow from operations. This is combined with the highly subjective % of completion method to book revenue. Are there any organic growth in this? 
  8. TEE Land sale uncertain and not updated for very long
  9. Dividends were essentially main reason why I hold so long previously but with huge losses moving forward i wonder any yield would be possible. 

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03-09-2019, 05:42 PM.
Post: #12
RE: Tee International
Request for Trading Halt : Pending release of an announcement.
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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04-09-2019, 07:26 PM.
Post: #13
RE: Tee International
(03-09-2019, 05:42 PM)cyclone Wrote: Request for Trading Halt : Pending release of an announcement.

Remittances of Monies Between the Company's Subsidiaries and Related Parties

The Board of Directors of TEE International Limited announced that in the course of the preparation of the full year financials for the financial year ended 31 May 2019 (“FY2019”), the Board had identified remittances of monies (i) by the Company’s subsidiary to a related party; and (ii) by certain related parties to the Company’s subsidiaries (collectively, “Remittances”), which the Board and/or the Executive Committee were not aware of.

As at the date of this announcement, the monies under the Remittances have been fully repaid by and to the Group, respectively. 

The Remittances were made and received, as the case may be, under the instruction of Phua Chian Kin ("Mr. Phua"), Group Chief Executive ("GCE") and Managing Director of the Company. 

More details in
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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