Chairman Statement

Chairman Statement

Extracted from Annual Report 2020

Dear Shareholders,

On behalf of the Board of Directors (“Board”) of TEHO International Inc Ltd. (“TEHO” or the “Group”), it is my pleasure to present to you the annual report for the financial year ended 30 June 2020 (“FY2020”).

Overview

FY2020 was an extraordinary year. The Covid-19 pandemic plunged the world into unprecedented disarray, with Singapore suffering its worst gross domestic product (GDP) decline of 43% in the 2nd quarter of 2020. Despite the grim backdrop, the Group was resilient by posting a $1.2 million profit after tax in FY2020 against a $0.5 million loss in the financial year ended 30 June 2019 (“FY2019”). This commendable turnaround of our results is primarily due to the continued growth and global expansion of the Rigging and Mooring business, under our Marine & Offshore Segment. Revenue of our Marine & Offshore Segment increased by $4.7 million. We have incorporated TEHO Ropes Korea Co., Ltd. and acquired an additional warehouse in Netherlands in September 2019 and May 2020 respectively as part of our global expansion strategy. Revenue of our Property Consultancy business also increased by $0.2 million to $0.95 million in FY2020 as compared to FY2019. Construction of our residential property at Lorong Salleh is expected to be completed by the end of 2020. We are still actively marketing our other residential property at Farleigh Avenue.

Lim See Hoe
Executive Chairman and CEO

  • Financial Review
  • Navigating through Covid-19 pandemic and US-China tension
  • Appreciation