Mainboard-listed TEE International, the engineering and integrated real estate and facilities management group, says net profit after tax increased 53.6% to $6.9 million for the six months ended 30 November 2010 (HY2011) from $4.5 million in HY2010.

Revenue for HY2011 surged 222.3% to $114.1 million compared with $35.4 million registered in the same period last year due to ongoing large-scale and new projects awarded to the group.

Under the Engineering segment, the group has an outstanding order book of $284 million.

A number of new projects were awarded during HY2011 including a $147.5 million to design and build a 1,500 unit residential development consisting of semi-detached and terraced units in Brunei and a $43.2 million contract to remodel the main building of National University Hospital.

Under the Integrated Real Estate segment, the group also contracted sales of $57.4 million for its ongoing property development projects in Singapore and Thailand.

The group also completed the acquisition of two freehold sites in 5 Lorong 26 Geylang Road and 448 East Coast Road in Singapore and sealed a joint venture agreement with an established property developer in Vietnam, to jointly develop 37 luxury villas on a 6,028 square metre piece of land in District 9, Ho Chi Minh City.