SINGAPORE (July 27): TEE Land posted a 96.4% fall in FY17 earnings to $0.3 million from $8.1 million a year ago, after it sunk into the red in the last quarter.
TEE Land closed 4Q17 ended May with a loss of $1.4 million from $4.6 million in 4Q16 a year ago.
Revenue increased 90.7% to $33.1 million due mainly to higher progressive revenue recognised for development projects, particularly Third Avenue in Malaysia, Hilbre 28 and a new development project, 183 Longhaus in Singapore.
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