Reduced Tee International 5 lots in this 2-days week to 31 December under Cash portfolio as part of usual portfolio re-balancing for $43 nett profit. Total
holding in it now at 40 lots. Tee Intl delivered
mix
financial results for 1Q2014; revenue +ve 24% driven by ongoing and
completed engineering projects and profit -ve 62% due to higher
administrative expenses and higher opex. Higher administrative expenses
was due to one off bonus payment to employees and higher staff costs
and headcount in line with its business and operations expansion.
Giving extra bonuses is a good thing to do as it motivates employees
which is in recognition of their hard works. Higher opex due to
unrealized forex losses that resulted from the depreciation of the MYR
against the SGD. It is in net cash used at the moment mainly due to
cash received from receivables net off payment to trade payables,
interest and income tax expenses and decrease in development
properties. Its chief executive & managing director, Mr Phua has
51% shareholding in Tee Intl as shown in the 2013 annual report so one
can be well assured that he will run this company with very much more
care and growing it at the same time. Recently, it has signed an MOU with Loxley Public Company, a public company listed on
the Stock Exchange of Thailand to explore opportunities in renewable
energy business and related activities in the Indochina region -
Myanmar, Laos DPR, Vietnam, Thailand and Cambodia.
Portfolio walk since previous posting :-
+$1,961 Total Returns as of 27 December
+$43 Nett Gain on sales of Tee Intl
+$424 Unrealised positions improved
+$2,427 Total Returns as of 31 December
Previous posting :- Cash - Closing Status 27 Dec
Remarks :- Profits locked in to-date $11,493 / year 2013 $8,624
Portfolio walk since previous posting :-
+$1,961 Total Returns as of 27 December
+$43 Nett Gain on sales of Tee Intl
+$424 Unrealised positions improved
+$2,427 Total Returns as of 31 December
Previous posting :- Cash - Closing Status 27 Dec
Remarks :- Profits locked in to-date $11,493 / year 2013 $8,624
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