Nam Lee was originally established in the 1950s as a metal fabricator and got a major boost in 1991 when it entered the Singapore HDB market. Products include gates, fences, rails, doorframes, laundry racks, parapets, sliding windows and doors, mild steel gate and mild steel doorframes.
Customers are mainly contractors of building projects and many are repeat customers.
This forecast recognized the projected number of HDB flats constructed to be reduced from 28,650 units in 1998 to 26,500 in 1999. The Company hopes to continue to expand its products in both the HDB market and the private residential projects in the future. They also hope to make an entry into the retail market for its products by selling directly to the consumer. The Company Directors consider the main risks to be dependence on public housing projects, fluctuation in raw material prices, and default on debts by customers. The issue was oversubscribed by 45 times, a great reception.