Lee Metal

馬少的哥哥

BACKGROUND
Lee Metal Pte Ltd was incorporated in Singapore on27 December 1982. The name was changed to Lee Metal Group Ltd on 4April 2000 when it adopted public status.

The Company is an integrated one-stop shop supplyingreinforcement steel products without making heavy capital investmentsin steel mills. Instead it works with a network of steel mills. TheCompany also has a complementary steel recycling materials (SRM)division which supports its main business as well as land and marinelogistics capabilities for the transportation of these products tolocal and overseas customers.

The Company sources its steel products from variouscountries including Turkey, Indonesia, Thailand, Mexico, Malaysia,Romania, China and Ukraine. It has a domestic network of suppliers fromwhom it substantially sources for its SRM. The reinforcement steelproducts are sold principally to local contractors for use in thedomestic construction and infrastructure industry and SRM is exportedto regional steel mills for recycling. The Group has an L6 registrationstatus with the Building and Construction Authority (BCA) which allowsit to bid for public sector projects of unlimited value and HDBapproved supplier status which allows it to bid for bulk contracts forthe supply of cut-and-bend reinforcement steel bars to HDB projects.

In 1999, the Group expanded its business activitiesto include manufacturing of steel welded mesh and has obtained approvalfrom HDB to supply steel welded mesh for HDB projects.

In February 2000, the Company secured land from thePSA for the development of a seafront integrated steel merchandisingand cut-and-bend centre at Sembawang Port.

To derive benefits in terms of better operationalefficiencies and cost savings in itsSRM operations through economics ofscale and synergy, on July 2001, the Company merge its SRM operationswith Natsteel Ltd's subsidiary, Materials Recycling Pte Ltd, to formNatferrous Pte Ltd. As a result of the merger, the Group currently owns20 percent of NatFerrous Pte Ltd. To cement the collaboration, theCompany has issued 60m shares of $0.05 each to Natsteel Ltd,representing 16.7 percent of the enlarged share capital after thealloment.

一间经营钢铁业却不是很起眼的公司。Trading volume 不高但走势挺平稳的。公司近期所发布的业绩也令人满意，因而一度飙升到 S$0.35 左右但后来又因为八月份的调整而一度下跌至约 S$0.21。