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TEHO INTERNATIONAL INC LTD.
Annual Report 2015
Dear shareholders,
On behalf of the Board of Directors (“Board”)
of TEHO International Inc Ltd. (“TEHO” or
the “Group”), it is my pleasure and honour
to present to you the annual report for the
financial year ended 30 June 2015 (“FY2015”).
MILESTONES FOR FY2015
We had an exciting and eventful year despite
the challenging and competitive business
outlook in FY2015.
We have successfully acquired ECG Property
Services Pte. Ltd. (“ECG”) in November 2014.
ECG and its wholly-owned subsidiaries are
principally engaged in the business of real
estate, consultancy, management, real estate
agencies, valuation services and real estate
activities such as business and management
consultancy services. The acquisition enables
the Group to offer a full range of property
services and strengthen its foothold in the real
estate business.
Another milestone was the completion of the
acquisition of the entire share capital of “LIHA”
Shipservice B.V. and Store Rijnmond B.V. by
TEHO EuROPE B.V.. The acquisition enables
TEHO to expand its rigging and mooring
business in Europe.
CHAIRMAN’S
STATEMENT
In FY2015, we have also entered into a joint
venture agreement (“JVA”) to engage in the
real estate development and investment in
Cambodia. Within a short period of time
of less than a year, we have successfully
launched a prestigious real estate project in
Cambodia, The Bay.
The Bay is an integrated development project
with gross development value of more than
USD500 million upon completion. It is located
in the prime peninsula of Chroy Changvar
at the heart of Phnom Penh, also known as
“The City of the Future”. It is situated at the
confluence of Tonle Sap River and Mekong
River. The Bay, at 53 storeys, will be one of
the tallest buildings in Phnom Penh, offering
unparalleled views of Cambodia’s capital.
The Bay’s majestic and avant-garde
design is the brainchild of ONG&ONG Pte
Ltd, Singapore’s multiple award-winning
international architect firm.
The Bay has taken a significant step forward
with the signing of a memorandum of
understanding (“MOU”) with Hotel Okura Co.,
Ltd. to operate the proposed hotel there.
Hotel Okura is an established global hotel
group founded in 1958, headquartered in
Tokyo, Japan. It currently operates 74 hotels
internationally under three hotel chains,
namely Okura Hotels & Resorts, Nikko Hotels
International and Hotel JAL City. The Okura
