TEE International signs letter of intent to supply mechanical and electrical works

Mainboard-listed TEE International has, through a wholly-owned subsidiary, signed a conditional letter of intent with Hyundai Engineering & Construction Co for the delivery of a $142 million mechanical and electrical (m&e) package for the Marina South Mixed Development Project.

The deal has a duration of 28 months.

Hyundai Engineering, which leads a consortium of builders, was awarded the main contract for the construction of Marina One in early Sept.

The signing of the letter of intent demonstrates TEE's healthy momentum in securing large scale M&E contracts in Singapore and around the Asia Pacific region, the company said.

Including the latest deal, the group's current outstanding orderbook stands at about $317 million.