Tee International says wholly-owned subsidiary, PBT Engineering, has taken over the Marina Bay Sands workers’ dormitory and operating it for a period of nine months effective from Sept 1 under the preview of Building & Construction Authority.

This facility, which comprises two blocks of workers dormitory and a communal block, was previously owned by Marina Bay Sands and operated by PBT on behalf of MBS since  Dec 1, 2008 as part of the ‘Design, Build & Operate’ Workers’ Dormitory contract with MBS.

The dormitory with the capacity for up to 2,280 workers is complete with ample amenities to meet the needs of all the workers, including mini mart and various recreational facilities such as hard courts, gymnasium, games room and TV corners. Laundry, food catering and shuttle services are also provided.

The directors do not anticipate that the above transaction will have any material effect on the net tangible assets and earnings per share of the Group for the financial year ending 31 May 2011.

Meanwhile, Tee International says it will receive recurrent income of $3.8 million from the leasing of the Nordam Industrial Building in Changi North Crescent in Singapore in the coming 24 months as well as $1.3 million from the estate management of the Rom Klao Estate for the National Housing Authority in Thailand in the next 12 months.

The company says it will continue to pursue opportunities in this segment to add to the recurring income stream.