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Serious Another listed company bites the dust

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AsiaDK

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TEHO International - Marine Industry & Cambodian Property Development
Current Market Cap: S$11million

“In the best interests of the group’s ‘The Bay’ project, and having considered the market conditions in Phnom Penh and other factors, the group and its joint venture partner have decided to put on hold the residential development phase of the project.”

The decision contributed to a S$16.4 million impairment hit on its property division, which helped result in the group registering a full-year loss of S$23.8 million. TEHO’s business is also struggling against the backdrop of a sustained downturn occurring in the oil and gas industry, with the company’s marine, offshore oil and gas segment booking a S$2.3 million impairment charge.

http://www.phnompenhpost.com/post-property/property-doubts-resurface-following-bays-suspension
 
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melzp

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johnny333 said:
Don't worry lah LHL is watching the economic situation. Don't know if they'll do anything, but they are watching.

PM Lee Hsien Loong on economy: Government's watching it http://www.straitstimes.com/singapore/pm-on-economy-governments-watching-it
Click to expand...

Watch n read only. Why bother about corporate?
Yes, they pay taxes n provide employment.

Where is the President who bragged his savvy Financial background
during the PE ?
This should not happened if he can smell from afar.
 
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