Thu, Jan 16, 2020 – 11:52 PM
TEE Worldwide has secured an engineering upkeep contract for a blended growth in Singapore, and renewed different contracts in Thailand, the Mainboard-listed firm introduced in a bourse submitting on Thursday.
The announcement comes a day after TEE Worldwide reported a widening of its internet loss to S$35.9 million for the second quarter ended Nov 30, from S$three.2 million a yr earlier.
Underneath the Singapore contract, TEE Worldwide will present engineering providers upkeep and options for a Grade-A workplace constructing and retail house within the Marina Bay Space.
In the meantime, its unit Oscar, Property Administration, has clinched a nine-year extension of its contract from the Nationwide Housing Authority of Thailand (NHA) to function and handle the Lat Krabang inexpensive housing property in Thailand.
NHA prolonged the lease settlement for constructing and neighborhood administration providers for the two,431 models located inside Section four and Section 1 of the Lat Krabang housing property. TEE Worldwide has been working and managing the Lat Krabang inexpensive housing property since 18 years in the past.
Individually, the corporate has acquired a five-year renewal on its contract with the Bangkok Metropolitan Administration to handle an underground Wastewater Therapy Plant in Thailand.
TEE Worldwide’s affiliate, GETCO, will help and function the Bang Sue plan, in order to fulfill the usual of effluent high quality. In FY2019, income contribution from each Thai entities, Oscar and GETCO, amounted to roughly S$6.7 million.
“Going ahead, we’ll proceed to give attention to buying information and experience in technology-based developments within the engineering and building business. On the identical time, we stay dedicated to delivering high-quality tasks whereas engaged on initiatives that may value-add to current tasks and future tasks,” stated TEE Worldwide’s interim chief govt Eric Phua.
Shares of TEE Worldwide closed at S$zero.051 on Thursday, down eight.93 per cent.
