SINGAPORE - Mainboard-listed Tee International is teaming up with Catalist-listed Advancer Global to pursue new business opportunities.
Their strategic alliance brings together Tee group's established track record in providing integrated engineering services and its exposure to the real estate and infrastructure sectors, with Advancer Global Group's integrated facilities management solutions and services platform, the two firms said in a joint statement on Monday (Sept 11).
The alliance will focus on exploring opportunities for joint tenders in contracts which require mechanical and electrical engineering works and facility management services and jointly investing in facilities management projects in the Asia Pacific region.
Last month, Tee International's minority shareholders foiled an attempt by group chief executive Phua Chian Kin to take the group private at 21.5 Singapore cents a share.
Tee International last traded at 20.5 cents while Advancer Global, which went public last July at 22 cents, closed last Friday at 29 cents.