Friday, March 21, 2014
Teho International: Proposed to diversify into property development, investment and trading. Teho will have an initial focus on United Kingdom, Australia, Asia- specifically in Singapore, Malaysia, Thailand and Japan. Accordingly, Teho proposed to make a $12.3m acquisition for TIEC Holdings- a real estate developer specialising in residential properties with current projects including Elite Residence, Urban Heritage, a pair of semi-detached units at 7 Berwick Drive and one semi-detached unit at 61 Conway Grove. Teho will also assume liability as guarantor for TIEC's exisiting debt of $36.1m.