Company Briefs: TEE International

TEE International

Mainboard-listed engineering company TEE International was awarded new contracts worth approximately $95 million from August to September, bringing its total outstanding order book to about $324 million.

TEE's wholly owned subsidiary PBT Engineering was appointed as the main contractor for works on AXA Tower, a 52-storey Grade "A" office development in Shenton Way. Another contract was awarded to TEE for addition and alteration, and interior fit-out works for PSB Academy's new campus at Marina Square Shopping Mall.

In addition, TEE was appointed by Or Kim Peow Contractors to provide mechanical and electrical works at Seletar Airport, where a new passenger terminal is being built.


Banyan Tree Holdings

Hotel operator Banyan Tree is opening its first resort hotel in Turkey with Turkish real-estate firm Nef.

Called Banyan Tree Bodrum, the luxury resort will open in Bodrum next year. The 70-key resort will feature 14 spa suites, each with a private pool, 40 standard rooms and 30 branded suites. Nef chief executive Erden Timur said the partnership will help boost Turkey's tourism sector.

"We are pleased to contribute to both the tourism sector and the Turkish economy on a large scale, by such a remarkable partnership during a period of suspended investments," he said. The hotel is Nef's first project outside of the Turkish capital, Istanbul.


Mermaid Maritime

Mermaid Maritime's subsidiary Seascape Surveys has been awarded two new subsea contracts in South-east Asia with a total estimated potential contract value of US$5.1 million (S$6.8 million).

The first is a 30-day project in the Natuna Sea, Indonesia, carrying out installation activities directly for an international upstream oil and gas company.

The second is to provide survey and inspection services to a third-party diving vessel for approximately 45 days in Malaysian waters. This project has already started.

Mermaid's Western Hemisphere business unit has also been awarded a one-month work extension by a major engineering, procurement and construction contractor in the Middle East.

The awarded extension has an estimated potential contract value of US$1.8 million and has already commenced.

A version of this article appeared in the print edition of The Straits Times on September 09, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe