TEE Group swings into the red in Q2

TEE Group, an integrated engineering, real estate and infrastructure group, swung into the red for its fiscal second quarter on one-off impairment losses, it said on Friday.

Net loss for the three months ended Nov 30, 2017, stood at S$5.22 million, reversing from a net profit of S$394,000 from the year-ago period.

The group recognised one-off impairment losses on the proposed disposal of an associate, and the remaining unsold units in the completed properties held for sale by TEE Land.