TEE Intl

TEE Intl: Co has been awarded construction of a Msian water treatment plant worth $26.4m through a JV arrangement. The plant is to be built over 22 mths commencing in May 2011. Including this contract co has current order book of approx $324.5m for its engineering segment. Co trades at current P/E of 5.0x with hist avg at 9.1x.