TEE International, which provides mechanical and electrical engineering services, on Thursday said it formed a strategic partnership with Malaysian Solar Resources Sdn Bhd to collaborate in the solar industry.
The strategic collaboration would result in a joint venture company, in which TEE will hold 51 percent stake while the remaining will be held by Malaysian Solar Resources, it said in a regulatory filing.
The JV intends to tender for upcoming solar projects in Singapore and explore solar investment opportunities in the South-East Asia region.
"TEE Infrastructure will be well positioned to expand into the solar sector through the acquisition of brownfield assets and securing of new solar installation tenders in Singapore and the region," said Edwin Neo, Head of TEE's Infrastructure business.
Last month, TEE International formed an alliance with Advancer Global, which provides security services, pest control, and cleaning and stewarding services to its customers.
The partnership was aimed at expanding TEE's horizon into the facilities management business.
Shares in TEE International ended down 0.5 percent to S$0.199 on the Singapore Exchange on Thursday. The stock has risen 2 percent so far this year.
