TEE International bags US$15 mil investment from Temasek investment company

By Michelle Zhu / The Edge Singapore | December 19, 2017 6:28 PM SGT
SINGAPORE (Dec 19): TEE International, the regional engineering company with business interests in real estate and infrastructure, has secured a US$15 million ($20.2 million) investment from Temasek’s Pierfront Capital Mezzanine.
Pierfront Capital is an independent investment company offering junior debt, mezzanine and structured financing solutions in capital-intensive businesses across a wide range of sectors, including infrastructure, energy, transportation, telecommunications and logistics.
It focuses on growth capital for asset and corporation acquisition, refinancing, and project expansion.
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In a Tuesday filing, TEE International says its latest investment funding follows the group’s several developments announced over 4Q17, such as its strategic partnerships with Advancer Global as well as solar solutions & services provider, Malaysian Solar Resources.
Going forward, the group says it intends to explore expanding its wastewater treatment plant business in Thailand. Its first hybrid thermal power plant in Iligan, Philippines is expected to be commissioned and start operations in the second half of 2018.
“We are honoured to have an established investor like Pierfront Capital investing in TEE International as this illustrates confidence in TEE International’s potential to grow and strengthen the business,” says CK Phua, Group CEO and Managing Director of TEE International.
“This has been made possible with the help of International Enterprise (IE) Singapore, who linked us up with Pierfront Capital. With new capital being pumped in, we are excited to see our infrastructure business scale to new heights in the upcoming years.”
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This story, written by Michelle Zhu for The Edge Singapore, first appeared on Dec 19.