Key Developments: TEE International Ltd (TEEI.SI)

TEEI.SI on Stock Exchange of Singapore

27 Nov 2014
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Latest Key Developments (Source: Significant Developments)

TEE International Ltd gets secures contracts in Singapore
Sunday, 7 Sep 2014 01:04pm EDT 

TEE International Ltd:Says its engineering business has secured another S$73 million worth of new contracts in Singapore.Says these new contracts include another contract from Changi Airport Group (Singapore) Pte Ltd (CAG), as well as, a sub-contract from the People’s Association (PA).Says it was awarded about S$40 million project to carry out works for the proposed replacement of fixed gangway and interior design finishes.Says which is for fixed gangway and passenger loading bridges at Terminal 1 and 2 of Singapore Changi Airport.Says for PA, TEE is the nominated sub-contractor for the provision of air-conditioning and mechanical ventilation works for the proposed 6/7 Storey Civic & Community/Sports & Recreation Development, also known as, Tampines Town Hub, Singapore.Says the value of this project is about S$33 million.  Full Article

TEE International Ltd undertakes M&E works for The Parisian Macao
Wednesday, 6 Aug 2014 01:00pm EDT 

TEE International Ltd:Says it has secured a total of S$60 mln worth of contracts to carry out Mechanical and Electrical (M&E) works for the Venetian Cotai Limited’s property development in the Macao Special Administrative Region, named The Parisian Macao.In connection with this, TEE's wholly-owned subsidiary, TEE Hong Kong Limited entered into a 55:45 joint venture agreement with Hou Chun Construction and Engineering Company Limited, whereby a joint venture company, TEE-HC Engineering Company Limited was formed to undertake the Macao Project.  Full Article

TEE International Ltd announces final dividend
Tuesday, 22 Jul 2014 08:00pm EDT 

TEE International Ltd:Announces a final cash dividend of 0.50 cents per ordinary share.Date of payable to be announced at a later date.  Full Article

TEE International Ltd announces disposal of subsidiary, Interlift Sales Pte Ltd
Tuesday, 22 Jul 2014 01:27pm EDT 

TEE International Ltd:Enters into sale and purchase agreement (SPA) with Messrs Lu Soon Hoe, Tang Kwok Keong, Tan Kim Huat, Tan Choon Kwang, Tan Nguan Heng and Tan Kim Pua (collectively, purchasers).For disposal of its entire shareholding comprising 429,275 ordinary shares, representing 55 pct of issued and paid-up share capital (sale shares) of Interlift Sales Pte Ltd (Interlift) to purchasers.Purchasers are existing shareholders, holding total of 45 pct shareholding in Interlift.Subsequent to disposal, Interlift would cease to be subsidiary of Company.Intends to use sale proceeds from disposal to fund the general working capital requirements of the Group.Consideration of S$3,202,431.40 payable by purchasers to the Company for disposal under SPA was determined based on arm's length negotiations and arrived at on a willing-buyer and willing-seller basis.No valuation of the shares was conducted.The Company shall receive part consideration of S$2,000,000.00 on the completion of the Disposal. The Deferred Consideration payable but unpaid by the Company to the Purchasers under the Principles Sales Agreement 2013 shall be set-off against the Sale Price as stipulated in the SPA.Remaining of sale price of S$80,000.00 shall be paid to the Company within 3 months from completion date of disposal.  Full Article

TEE International Ltd's wholly owned subsidiaries secures S$57 million contracts
Wednesday, 16 Jul 2014 09:42pm EDT 

TEE International Ltd:Says that its wholly owned subsidiaries, PBT Engineering Pte Ltd and Trans Equatorial Engineering Pte Ltd, have secured a total of about S$57 million worth of engineering contracts in Singapore.These include an approximately S$42 million contract to carry out Civil and M&E works for Changi Airport Group (Singapore) Pte Ltd, as well as a number of engineering contracts in Singapore.Says including these new contracts, the company has an order book of about S$398 million for its engineering segment.  Full Article

TEE International Ltd announces project awarded to Tee International Limited’s Wholly-owned Subsidiary, Tee M&E Engineering Sdn Bhd
Tuesday, 1 Jul 2014 06:56am EDT 

TEE International Ltd:Says its wholly-owned subsidiary, TEE M&E Engineering Sdn Bhd, has been awarded the following new project by MDIS (Malaysia) Sdn Bhd.Contract title proposed new development of MDIS Malaysia Campus.consisting of one block of 5-storey main block, one Block of 6-storey Administration Block, one Block of 2-storey Multipurpose Hall two Blocks of 12-storey Hostel.Sats contract also includes other ancillary buildings on part of Lot Ptd 154971, Educity, Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim for MDIS (Malaysia) Sdn Bhd.Contract sum is 178,838,000 Ringgit (about S$69,657,401).Contract period is Aug. 11 to Feb. 10, 2016.  Full Article

TEE International Ltd completion of acquisition of the remaining 20 pct
Tuesday, 10 Jun 2014 06:05am EDT 

TEE International Ltd:Says that CMC Communications Sdn Bhd, joint venture company of the company has acquired the remaining 100,000 ordinary shares in the capital of CMC Communications (Singapore) Pte Ltd (CMCC).Representing 20 pct of the issued share capital of CMCC from Radiance Converged Solutions Sdn Bhd (RCS).Says for the purchase consideration comprising cash of S$400,000.Says purchaser has acquired remaining 20 pct of the voting rights representing 162,300 ordinary shares and 10.82 pct of the issued shares of CMC Communications (Thailand) Company Limited (CMCT) from Keppel Communications Pte Ltd (KCPL).Says for purchase consideration comprising cash of S$80,000.  Full Article

TEE International Ltd announces ownership interest of Bertie Cheng Shao Shiong
Wednesday, 4 Jun 2014 06:23am EDT 

TEE International Ltd:Says Bertie Cheng Shao Shiong holds 4,520,000 ordinary shares in the company.  Full Article

TEE International Ltd announces memorandum of understanding with Guangdong Wanlv Environment Engineering Co., Ltd; Declares interim dividend of 0.45 cents per share
Thursday, 6 Feb 2014 09:41am EST 

TEE International Ltd:Says its subsidiary, TEE Infrastructure Private Limited (TEE Infra) has entered into a non-binding Memorandum of Understanding (the MOU) with Guangdong Wanlv Environment Engineering Co., Ltd (Wanlv).Says the MOU was signed with the understanding of entering into a long term partnership to focus on the investment, construction, operation and financing of municipal infrastructure and environmental protection projects in Guandong Province, China.Says under the MOU, TEE Infra and Wanlv will jointly explore the viability of three wastewater treatment projects in Guangdong Province, China that are owned by Wanlv (the Businesses).Says on Jan. 09 it declared an interim dividend of 0.45 cents per share in conjunction with the second quarter financial results announcement.  Full Article

TEE International Ltd announces establishment of SG$350,000,000 multicurrency medium term note programme
Friday, 29 Nov 2013 10:01am EST 

TEE International Ltd:Says it has on Nov. 29 established SG350,000,000 multicurrency medium term note programme.Says the company may from time to time issue Notes in series or tranches, in Singapore dollars or in other currencies, in various amounts and tenors, and may bear interest at a fixed, floating, variable or hybrid rates or may not bear interest.Says the net proceeds will be used for general corporate purposes, including refinancing of existing borrowings and financing of working capital, acquisition, investment and capital expenditure requirements of the company and its subsidiaries.  Full Article

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