Tee International bags $48m of engineering contracts

SINGAPORE - Mainboard-listed Tee International has been awarded about S$48 million worth of new engineering contracts, the company said in a filing with the Singapore Exchange on Thursday (Oct 13)

Trans Equatorial Engineering Pte Ltd, a wholly-owned subsidiary of Tee, was awarded a contract by Changi Airport Group to serve as a nominated sub-contractor to carry out engineering works relating to the development of a three-runway system at Changi Airport.

Under this contract, Trans will work with the project's main contractor on the design, supply, delivery, installation, testing and commissioning of the airfield lighting system for the three-runway system.

Including this contract, Tee has four ongoing projects at Changi Airport.

"In addition to securing new engineering projects in Singapore, our overseas business development is gaining momentum and progress with new project wins in Hong Kong and Malaysia," said Mr Eric Phua, Tee's deputy group managing director. "We will continue to build our overseas presence and remain prudent in managing our costs."

In total, Tee has secured approximately S$15 million worth of overseas engineering contracts. To date, TEE's total unfulfilled order book stands at S$372 million.