TEE International bags S$58m worth of engineering contracts

TEE International has clinched engineering contracts worth about S$58 million that brings its outstanding order book to about S$304 million, the engineering, infrastructure and real estate group said on Tuesday morning in a Singapore Exchange announcement.

One contract is from repeat client Changi Airport Group (Singapore) to TEE's subsidiary PBT Engineering for a proposed replacement of a fixed gangway, and addition and alteration works at Changi Airport Terminal 1, 2 and 3.

It is PBT's second contract for replacing fixed gangways, the first was awarded in September 2014.

"In May 2017, we have successfully completed phase 2 of the replacement and addition & alteration (A&A) works for fixed gangways at Changi Airport Terminals. We are encouraged to be appointed to carry out phase 4 of the project and remain committed in executing and delivering the project on time," said Eric Phua, TEE's deputy group managing director and managing director of engineering.

Another repeat customer, Singapore Institute of Technology, will also have PBT carry out A&A works at its SIT@Dover campus, as well as AEI (asset enhancement initiative) works at 1 Raffles Place under OUB Centre Limited. Trans Equatorial Engineering secured sub-contract work from Lum Chang Building Contractors for supplying, installing, testing and commissioning electrical and extra low voltage services for a nine-storey light industrial development with office, shops and restaurant and basement carpark at Woodlands Avenue.

It also bagged a project term contract fo Singtel Data Centres for three years with the option to extend for a further two years, which is expected to provide a recurring income for TEE's Engineering business.

TEE International shares closed on Monday at S$0.192, up 0.5 Singapore cent or 2.67 per cent.