TEE International warns of 'adverse impact on profitability' even as subsidiary clinches $72 mil letter of award

SINGAPORE (Apr 20): Mainboard-listed TEE International’s wholly-owned subsidiary Trans Equatorial Engineering has bagged a letter of award (LOA) worth $72 million for mechanical and engineering works for the proposed development of a sports and recreation centre in Punggol.

The LOA was awarded to the group by repeat client Hyundai-Keong Hong JV Limited Partnership, a joint venture between Hyundai Engineering and Construction (Singapore) and Keong Hong Construction, a wholly-owned subsidiary of Keong Hong Holdings.