Huationg Global wins three civil engineering contracts aggregating S$26.6 million
SINGAPORE, 25 October 2016 – Huationg Global Limited (“Huationg Global” or the “Company“, and together with its subsidiaries, the “Group“), a full-service integrated civil engineering solutions provider, today announced that it has secured three new civil engineering contracts from the Housing & Development Board of Singapore (“HDB“) aggregating approximately S$26.6 million, through its wholly-owned subsidiary, Huationg Contractor Pte Ltd.
The new contracts include:
1. A project at Bukit Batok estate with the following work scope:
– Earthworks and slope formation at Bukit Batok N4;
– Widening of Bukit Batok West Avenue 2 and construction of Bukit Batok West Avenue 5 (extension) and Bukit Batok West Avenue 8; and
– Relocation of bus bay and bus shelter at Bukit Batok Road.
2. Site clearance and earthworks for Defu Industrial City
3. Earthworks and construction of Punggol Drive
The Group is expected to deliver the projects in phases over the next two years. The contracts are not expected to have a material impact on the Group’s earnings per share and/or net tangible assets per share for the current financial year ending 31 December 2016.
Mr Patrick Ng (黄健安), Chief Executive Officer of Huationg Global, commented, “Times are challenging for the construction sector but there is still a strong pipeline of public sector projects in areas such as housing and neighbourhood upgrading, MRT and transport infrastructure, and utilities. In fact, there were S$11 billion worth of public sector projects in the first half of 2016, which is about 42% more compared with the same period last year1. We believe Huationg Global’s rich experience in public civil engineering works puts us in a good position to tap into this pipeline. We will continue to actively pursue opportunities to grow our order book.”
1 The Straits Times, 3 September 2016, “‘Good pipeline’ of public projects for contractors”
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About Huationg Global
Established in 1983 and listed on the SGX Catalist in 2014 (December), Huationg Global Limited provides a full range of civil engineering services and inland logistics support, and is also involved in the sale of construction materials, including the manufacture and supply of Liquefied Soil Stabiliser (“LSS”) and the sale of Recycled Concrete Aggregate (RCA). A key player with an established strong track record in the civil engineering industry, the Group has been involved in such works for numerous large infrastructural construction projects in Singapore over the last 30 years including certain stations of the Downtown Line MRT and Circle Line MRT, the Kallang-Paya Lebar Expressway and the Marina Coastal Expressway. Its key customers in this segment include the Housing and Development Board, Land Transport Authority of Singapore, JTC Corporation, Changi Airport Group and Daelim Industrial Co. Ltd. among others. The Group is registered with the Building and Construction Authority with a BCA grading of A2 under the category of CW02 for civil engineering and C2 under the category CW01 for General Building.
Issued for and on behalf of Huationg Global Limited by
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Huationg Global Limited (the “Company“) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST“) on 9 December 2014. The initial public offering of the Company (the “IPO“) was sponsored by PrimePartners Corporate Finance Pte.Ltd. (“PPCF“’ or the “Sponsor“).
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Joseph Au, Senior Manager, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.