Brief: TEE updates on outcome of arbitration proceedings for project to build 1500 houses within 18 months

TEE International

28/12/2015 13:42

Dec 28 (Reuters) - TEE International Ltd  TEEI.SI : 
 * Says presently evaluating its options with its legal advisors on the steps to 
   be taken to enforce the arbitration ruling 
 * Says directors do not anticipate that the enforcement of the award will be 
   finalised by 31 may 2016 
 * Outcome of arbitration proceedings for project to build 1500 houses within 18 
   months in tutong district 
 * Award will not have any impact on earnings per share of the group for the 
   current financial year ending 31 May 2016 
 * Updates that arbitral tribunal in Singapore has issued an award of brunei 
   dollar 11.3 million in favour of unit 
 
   Source text for Eikon  ID:nSNZ8k2VmW  
 
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