03
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
CHAIRMAN’S
STATEMENT
Operational Highlights
As current market sentiments continue to be
depressed, the Group will continue to focus
on improving operational efficiencies across
our various business segments. The Group
will continue to take proactive measures
to keep costs low, monitor credit risk
exposure and maintain an optimal amount
of inventory so that we stay operationally
lean and fit to ride out the challenges.
Maintaining our core strength in mooring
and rigging products, with roots dating
back to the post WWII days, remains
a key priority. TEHO’s Marine and Offshore
distribution units in Europe and America
are progressing very well. In line with our
commitment towards operating excellence
and efficiency, the Group has put in place
plans to consolidate our Rotterdam
operations, currently at two different
locations, into a centralised venue. Through
the Group’s wholly-owned subsidiary TEHO
EuROPE B.V., we have acquired a freehold
property in Ridderkerk, The Netherlands,
for Euro 1.335 million, or approximately
S$2.044 million. With a total site area
of about 4,034 square meters, the new
property allows us to improve on our
existing internal infrastructure and facilities
to better serve our customers in Europe.
We have also established new stock points
in Algeciras, Spain and Panama. With these
new stock points, in addition to our existing
stock points in Singapore, Rotterdam,
Houston, Dubai and Shanghai, we will
be able to better serve the needs of our
customers.
Another positive development was the
signing of the hotel management agreement
with Hotel Okura Co., Ltd (“Okura”)
in February this year to develop and
manage The Okura Prestige Phnom Penh.
This significant milestone for TEHO comes
after the memorandum of understanding
that we signed with Okura in February
2015 to operate a hotel within The Bay
development. Envisioned as a luxury hotel
catering to business and leisure travelers,
I am confident the hotel will become an
integral feature of The Bay. As we work to
reposition The Bay development to best
capture Phnom Penh’s potential, we will
continue to invest attention and resources
into projects that will enable The Bay to
gain a creditable foothold into Cambodia’s
property sector.
The next 30
This year is also a year of much significance
to TEHO as we celebrated our 30th
anniversary. From a small local business in
1986 to an international marine and offshore
solutions provider, and more recently,
a real estate developer, our journey has
seen many key turning points.
Through it all, we have been guided by our
deep commitment to expertise, dedication,
excellence and integrity. We believe
our approach of upholding excellence,
delivering high reliability and service quality
to our customers, and maintaining a strong
enterprising spirit will ensure our resilience
and lead us towards the next 30 years.
Appreciation
Last but not least, on behalf of the Board,
I would like to express my appreciation
to the management and all our staff for
their dedicated service and commitment.
Their perseverance and diligence have
been essential in overcoming numerous
challenges in the past year.
My valued fellow directors, thank you for
your guidance and efforts in steering TEHO
forward. And to our shareholders, business
associates, suppliers and customers, thank
you for your trust and loyal support.
We will continue to invest and to build
TEHO’s success for the next 30 years.
Lim See Hoe
Executive Chairman & CEO
