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Corporate moves
Amcorp assumes control over TEE Land
This offer comes three weeks after the announcement that Amcorp plans to buy over a combined 68.78% stake in TEE Land from its parent TEE International and from Phua Chian Kin, TEE International’s controlling shareholder.
February 03, 2020
Property
Amcorp to buy over TEE Land from TEE International for $55 million
Malaysia’s Amcorp Group plans to pay just over $55 million for a controlling stake in local developer TEE Land.Amcorp, controlled by Tan Sri Azman Hashim, will buy a 63.28% stake in TEE Land from its existing parent company, TEE International. It will
January 13, 2020
Corruption probes
TEE International CEO relieved of duties over unauthorised remittances; incident may raise questions over spin-off
(Sept 16): TEE International appears to have been hit by a scandal. The engineering firm said on Sept 4 that a total of $6.55 million had been remitted from the company to other entities, including those owned by its group CEO Phua Chian Kin, without the
September 13, 2019
M&A
TEE International extends completion of sale of TEE Land stake by 2 months
SINGAPORE (May 30): TEE International is extending the completion date for the sale of a 28% stake in subsidiary TEE Land to Top Capital Securities by about two months.
May 30, 2019
Broker's Calls
Is TEE International engineering towards a great tee off?
SINGAPORE (Nov 23): TEE International, the regional integrated engineering, real estate and infrastructure group, has caught the attention of SAC Advisors.
November 23, 2018
M&A
TEE Land acquires freehold land in Upper East Coast for $60 mil
SINGAPORE (June 28): TEE Land says that it will be acquiring the freehold interest in a plot of land located at 338 to 364 Upper East Coast Road, which is currently Teck Guan Ville, for a consideration of $60 million.
June 28, 2018
Broker's Calls
Improved outlook keeps TEE Land at 'overweight' despite 2Q loss
SINGAPORE (Mar 9): NRA Capital is maintaining its “overweight” on TEE Land with a fair value of 28 cents given improved outlook for the property developer.
March 09, 2018
TEE International and TEE Land expect to end 2Q and 1H in red on impairment losses
SINGAPORE (Jan 8): TEE International and TEE Land have both sounded profit warnings filings on Friday night.
January 08, 2018
TEE Land to record $6.2 mil loss as it disposes entire 31.88% stake in Chewathai
SINGAPORE (Dec 20): TEE Land’s wholly-owned subsidiary, TEE Development, has entered into a share sale and purchase agreement with Chartchewa Company to dispose its entire 31.88% interest in Thai subsidiary Chewathai Public Company.
December 20, 2017
Property
TEE Land to acquire freehold land at Gilstead Road for $72 mil
SINGAPORE (Nov 7): Real estate developer TEE Land has entered into 11 option-to-purchase agreements to acquire the freehold interest of 35 Gilstead Road, known as Casa Contendere, for $72 million.
November 07, 2017