“While we remain cautious on Singapore and Malaysia, given the continued enforcement of cooling measures on the property markets, we continue to be confident on the long term prospects of our other markets, such as Thailand, New Zealand and Australia. As such, we have been steadily acquiring new land and assets to further strengthen our portfolio in these markets.” This is the statement of CEO and Executive Director of TEE Land, Jonathan Phua.
The development of Aura 83 (photo above) combined with its Singapore associates’ contributions is where Tee Land Ltd credited their profit increase. One reason of increasing contributions from associates is the significant progress in developing projects. Another project under Tee Land Group is Trio @ Sam Leong.
Its net profit escalated to 131.8% at the end of November 2014, with revenue growth of 34.6%. The company perceived to have 49.7% net profit increase in the 2nd quarter of 2015 with revenue climbing to 519.5%