TEE INTERNATIONAL LIMITED (Incorporated in Singapore with limited liability) (Company registration number 200007107D)

CREDITORS' VOLUNTARY LIQUIDATION OF TRANS EQUATORIAL ENGINEERING PTE LTD

The Board of Directors (the "Directors" or the "Board") of TEE International Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that the Group has commenced the winding-up process of the wholly-owned subsidiary of the Company, Trans Equatorial Engineering Pte. Ltd. ("Trans Equatorial") by way of creditors' voluntary liquidation (the "CVL") and appointed Ms. Oon Su Sun and Mr. Lin Yueh Hung of RSM Corporate Advisory Pte. Ltd. of 8 Wilkie Road, #03-08 Wilkie Edge, Singapore 228095 as provisional liquidators.

Trans Equatorial was incorporated in 1980 and is principally engaged in the business of installation of industrial machinery and equipment, mechanical engineering works and electrical works. The Group has decided to proceed with the CVL of Trans Equatorial due to its cash flow problems and Trans Equatorial's inability to pay its debts as they fall due.

None of the Directors, the controlling shareholder or the substantial shareholders of the Company has any interest, direct or indirect, in the CVL, save for their shareholdings in the Company.

Shareholders and potential investors of the Company are advised to read this announcement and any further announcements made by the Company carefully. Shareholders and potential investors of the Company are advised to refrain from taking any action with respect to their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. Shareholders and potential investors of the Company should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.

BY ORDER OF THE BOARD

TEE INTERNATIONAL LIMITED

Ong Beng Hong

Company Secretary

16 December 2021

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TEE International Limited published this content on 16 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2021 15:08:03 UTC.