TEE Intl sinks deeper into the red in Q2
Net loss widens to S$35.9m from S$3.2m, mainly due to a discontinued operation relating to its TEE Land unit
Singapore
TEE International saw its net loss widen to S$35.9 million for its second quarter ended Nov 30, from S$3.2 million a year earlier.
This was mainly due to a S$13.8 million loss from a discontinued operation relating to its subsidiary TEE Land, the mainboard-listed engineering group said in a filing late on Tuesday. This came a day after the engineering group said it had inked a deal to sell its 63.2 per cent stake in TEE Land for S$50.6 million to a unit of Malaysia's Amcorp Group.
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