ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Aug 17, 2022 10:00 JST
Source:
Ching Lee Holdings Limited
Ching Lee Holdings (3728.HK) earns HK$1.54 billion of total contract values
HONG KONG, Aug 17, 2022 - (ACN Newswire) - Ching Lee Holdings Limited ("Ching Lee" or "The Group"(1), stock code 3728.HK) signed about ten contracts for construction projects with various property developers at the end of June this year. The accumulated unfinished contract values of approximately HK$1.54 billion marked a historic record of doubling from year on year and compared to the general period before the outbreak of COVID-19 in 2018, it was a 50% increase. These are unprecedented results in history.
Thanks to the confidence of major Hong Kong property developers in the properties industry and their support of the Group, Ching Lee has been awarded several high-quality superstructure construction projects, covering traditional luxury residential areas such as Prince Edward Road West in Ho Man Tin, the Happy Valley district, the Central district and the mid-levels of Hong Kong Island, etc. Highlights of the reconstruction include developing a 25-storey boutique-style building for 69 residential units, as well as participating in the renovation of the hotel and rebuilding it into a residence for rental purposes. In addition, the Group has added superstructure, substructure, and RMAA(2) projects in Soy Street in Mongkok, Ma Tau Wai Road in Hunghom, Cheung Sha Wan Road, and To Kwa Wan in response to the Hong Kong Government's Urban Renewal Plan.
Since the outbreak of COVID-19 for more than two years, all walks of business have been struggling. The operation of the construction industry has been adversely affected by the problems of delaying transportation and the price rise of raw materials. Despite the difficulties, Ching Lee did not retreat, but also swam upstream and achieved a great year. In recent years, Ching Lee has seized opportunities to invest in property markets including the success of the investment in the AVA228 residential project of Sham Shui Po in 2018 and the acquisition of the commercial and residential project in To Kwa Wan this year with invested capital of HK$24 million, accounting for 20% of the total investment. Ching Lee has gradually and successfully transitioned from being a contractor to a developer through its experience and expertise in the construction industry.
Commented by the Group Chairman Mr. Ng Choi Wah who is a developer and a contractor, "I am confident to be able to run the whole process in the property industry from construction to sales." Mr. Ng also expressed optimism about the overall market demand and the current business situation. He also expected the operation to continue performing well in the coming year.
Media enquiries:
New Smile Limited Strategic IR & PR Consultancy
Tel: +852 2126 7076
Jenny Lai
jenny.lai@newsmilehk.com
Jenny Cheung
jenny.cheung@newsmilehk.com
Richard Wong
richard.wong@newsmilehk.com
Notes to editors:
(1). Ching Lee Holdings Limited ("Ching Lee" or "The Group")
Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on 18 September, 2017 with stock code 3728.hk. Company website:
http://www.chingleeholdings.com
(2). RMAA
RMAA services work for existing structures. The scope of RMAA works consists of improvement, fitting-out works, renovation works, restoration works and external works.
Source: Ching Lee Holdings Limited
Sectors: Construct, Engineering
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Mitsubishi Corporation, KDDI CORPORATION, Lawson, Inc. Launching an Initiative to Transform into "Next-generation Convenience Store"
Sep 20, 2024 18:02 JST
Hitachi Rail is innovating and delivering transformative 5G digital signalling
Sep 20, 2024 16:47 JST
Olympus Launches New 4K Camera Head for Urological Endoscopy
Sep 20, 2024 15:00 JST
Honda to Relocate the Base of its Rugby Team Activities
Sep 19, 2024 15:05 JST
Renewal of Compact CO2 Capture System "CO2MPACT(TM)" Series
Sep 19, 2024 14:35 JST
The world's first commercial copper die-cast rotor for railway traction motors
Sep 19, 2024 13:57 JST
NEC Secures Fifth Consecutive Worldwide Partner of the Year Award from Juniper Networks
Sep 19, 2024 13:08 JST
Fujitsu and Stellar Science Foundation form partnership agreement to foster innovation by supporting young researchers
Sep 19, 2024 10:31 JST
Approval in Principle (AiP) Acquired from Two Classification Societies for Low-Pressure Type Liquefied CO2 Carriers undergoing Pursuit of Standardization toward Realization of Large-Scale International Transportation from 2028 onwards
Sep 18, 2024 18:02 JST
Europe's First Post-Combustion Carbon Capture Plant Starts Operation with MHI Technology as part of the Ravenna CCS Project, Phase 1
Sep 18, 2024 17:24 JST
Eutelsat and Mitsubishi Heavy Industries Reach Agreement for Multiple Launches
Sep 18, 2024 17:19 JST
NEC Orchestrating Future Fund invests in Sakana AI to promote development of generative AI
Sep 18, 2024 13:02 JST
IHI, Fujitsu, and Mizuho Bank form agreement to launch joint business venture to provide total support scheme for J-Credit
Sep 18, 2024 11:28 JST
JCB and Azer Turk Bank launch JCB merchant acquiring operations across the Republic of Azerbaijan
Sep 17, 2024 17:00 JST
Fuji frustration for TOYOTA GAZOO Racing
Sep 17, 2024 15:01 JST
Cordlife Unveils Enhanced Processing and Storage Facility in Singapore; Strengthens Processes as It Resumes Collection of Cord Blood Units in a Controlled Manner
Sep 17, 2024 14:30 JST
Japan International Aerospace Exhibition 2024: Japan's largest comprehensive aerospace industry exhibition
Sep 17, 2024 12:00 JST
LENVIMA(R) (lenvatinib) Plus KEYTRUDA(R) (pembrolizumab) in Combination With Transarterial Chemoembolization (TACE) Significantly Improved Progression-Free Survival Compared to TACE Alone in Patients With Unresectable, Non-Metastatic Hepatocellular Carcinoma (HCC)
Sep 17, 2024 10:08 JST
DENSO Wins Medals at 47th WorldSkills Competition
Sep 16, 2024 19:54 JST
Mitsubishi Corporation and ExxonMobil sign Project Framework Agreement to advance world's largest low-carbon hydrogen project
Sep 13, 2024 20:07 JST
More Latest Release >>
Related Release
Ching Lee Holdings (3728. HK) holds quality-driven strategies to acquire market share
September 20 2024 12:27 JST
Ching Lee Holdings (3728.HK) Stays Resilient in Gross Profit with Stress from Rate Hikes and Staff Costs
June 26 2024 11:26 JST
Ching Lee Holdings (3728. HK) doubles profit in 2023 interim results, showing strong growth capacity
November 28 2023 15:20 JST
Ching Lee Holdings realises profit returns from increased construction projects
June 27 2023 12:05 JST
Ching Lee Holdings (3728.HK) Wins in Adversity, Committed to Improving Cost Efficiency
January 09 2023 12:40 JST
Ching Lee Holdings Limited (3728.HK) invests HK$24 million to develop To Kwa Wan property project
June 06 2022 11:11 JST
Ching Lee Holdings Limited Invests in "AVA" Series Residential Project under Mr. Lo Wah's Family Group; Foraying into the Real Estate Investment Business
April 26 2018 18:15 JST
More Press release >>