TEE Land loses $2.4m for Q2

No thanks to high costs of sales and losses from associates.

TEE Land Ltd. (TEE Land) might need to work harder after it reported a loss of $2.4m in Q2.

In its financial statement, the company said share of results from its associates dropped to $8.9m, "due mainly to provision of impairment and expected loss in some of the development projects in Singapore."

However, revenue grew 90.7% to $333.1m, thanks to greater revenue from projects in Malaysia, Australia, Vietnam and Singapore.

Currently, TEE Land has a loss per share of 54 cents and a net asset value (NAV) per share of 35.1 cents.

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