Singapore

MAINBOARD-LISTED engineering group TEE International announced late last Friday that its board has been informed by the company's controlling shareholder, Phua Chian Kin, that he has received offers for the shares in the company held by him.

Mr Phua, who has been in the spotlight for allegedly instructing unauthorised transactions totalling S$6.55 million made by TEE International subsidiaries to related parties, also updated the company on the same night of his shareholdings in the company, which stands at a direct interest of 39.24 per cent and deemed interest of 6.37 per cent.