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I chanced upon this company earlier this week and was pretty amazed by the scale of the projects it under-take despite being a small company. It deals with engineering, property management and property development in SEA. Recently it clinched its largest project to date from Brunei EDB to develop 1,500 low cost housing within 18 month with a contract value of $147.5 million thereby boosting its order book to $388.7 million.
It has reported 4 consecutive years of increasing profitability, ROE and ROA. Its margins isn't very high but has remained stable. It has quite a few exciting developments coming up over the next few years and can be viewed in its latest presentation slides - http://www.teeintl.com/documents/announc...l10%29.pdf Based on its current share price, it is trading close to twice its NAV and at a PE of 6.
Its website has a copy of all analyst reports covering it. http://www.teeintl.com/newsroom_analyst_...s_all.html
However, it is a small company with market capitalization < $75 million. Its business of property development is capital intensive which causes it to have a high gearing. Its cash-flow isn't consistent as well due to the lumpy nature of contract business.
Financial Highlights for FY 10
Revenue: $150.4 million
Gross Profit: $22.5 million
Net Profit: $11.3 million
Total Asset: $175 million
Net Debt: $82.8 million
Working Capital: $46.8 million
NAV: $39.8 million
Market Capitalization: $69.0 million
Dividends Declared: $3.09 million
(Not Vested)
It has reported 4 consecutive years of increasing profitability, ROE and ROA. Its margins isn't very high but has remained stable. It has quite a few exciting developments coming up over the next few years and can be viewed in its latest presentation slides - http://www.teeintl.com/documents/announc...l10%29.pdf Based on its current share price, it is trading close to twice its NAV and at a PE of 6.
Its website has a copy of all analyst reports covering it. http://www.teeintl.com/newsroom_analyst_...s_all.html
However, it is a small company with market capitalization < $75 million. Its business of property development is capital intensive which causes it to have a high gearing. Its cash-flow isn't consistent as well due to the lumpy nature of contract business.
Financial Highlights for FY 10
Revenue: $150.4 million
Gross Profit: $22.5 million
Net Profit: $11.3 million
Total Asset: $175 million
Net Debt: $82.8 million
Working Capital: $46.8 million
NAV: $39.8 million
Market Capitalization: $69.0 million
Dividends Declared: $3.09 million
(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
