TEE Land signs MOU to build industrial estates in Thailand

Property developer will also operate them.

In a notice to the Singapore Exchange, the Board of Directors of TEE Land Limited, announced that its wholly-owned subsidiary, TEE Ventures Pte. Ltd. (TEEV), has entered into a Memorandum of Understanding (MOU) with Mr. Supachai Suthipongschai to jointly develop, build and operate a series of “Boutique” Industrial Estates in Thailand.

Mr. Supachai Suthipongschai is the Managing Director of the Western Property Group Co., Ltd, a diversified group with interests in property development and manufacturing of electrical appliances. Mr. Supachai Suthipongschai is also the Chairman of Sharp Thai Co., Ltd, the manufacturer and distributor of Sharp household electrical appliances in Thailand.

The Company will provide updates as and when there are material developments in relation to the MOU.

None of the Directors and controlling shareholders of the Company has any direct or indirect interests in the above transaction save for their respective shareholdings in the Company

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