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Contractors in financial difficulty
07 Sep 2021 (276 views)

Several contractors in the construction industry are in financial difficulty, due to the restrictions imposed to combat the covid pandemic. 

Many construction projects were delayed and the contractors were not able to get foreign workers. 

Here are two recent cases of failures of big contractors

Greatearth
Troubled construction company Greatearth is being wound up - a week after its shock closure of five Build-To-Order (BTO) project sites that left around 2,900 buyers facing long delays for their homes.
 

Tee International
After $115 million FY21 loss, Tee International CFO quits in under a year

I held the view that the restrictions imposed by the government to combat the pandemic had created much damage on the economy and on businesses. The failure of several large contractors is an example.

I had invested a total of $146,000 in the shares of Koh Brothers. It had suffered a drop of 18%. I invested a large sum in this stock because its share price is lower than its cash asset and is 70% below its asset value. 

Here is a report about the latest financial results of Koh Brothers. The company is in good shape.

Tan Kin Lian

 


Contractors in financial difficulty
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Several contractors in the construction industry are in financial difficulty, due to the restrictions imposed to combat the covid pandemic. 

Many construction projects were delayed and the contractors were not able to get foreign workers. 

Here are two recent cases of failures of big contractors

Greatearth
Troubled construction company Greatearth is being wound up - a week after its shock closure of five Build-To-Order (BTO) project sites that left around 2,900 buyers facing long delays for their homes.
 

Tee International
After $115 million FY21 loss, Tee International CFO quits in under a year

I held the view that the restrictions imposed by the government to combat the pandemic had created much damage on the economy and on businesses. The failure of several large contractors is an example.

I had invested a total of $146,000 in the shares of Koh Brothers. It had suffered a drop of 18%. I invested a large sum in this stock because its share price is lower than its cash asset and is 70% below its asset value. 

Here is a report about the latest financial results of Koh Brothers. The company is in good shape.

Tan Kin Lian