China State halfway to 2014 target

home, Hong Kong 13 May 2014
China State halfway to 2014 target

State giant bags $27.6b worth of new contracts in first four months

The Group recorded an accumulated new contract value of HK$27.56 billion in the four months ended 30 April 2014, representing a Year-on-Year (“YoY”) growth of
34.8%, and hence achieved a 50.1% completion of the full year target of 2014 (which shall not be less than HK$55.00 billion).
As of 30 April 2014, the on-hand contract value of the Company amounted to approximately HK$139.76 billion, among which the backlog was approximately HK$91.42 billion (representing a YoY growth of 28.1%), which meets the Group’s expected works in the next three years.

Major New Contracts Awarded in April 2014 include:

Phase II of the Relocation Housing BT Project in Pinghu of Jiaxing City, Zhejiang Province (the client of such project is Jiaxing Pinghu Municipal Government and the attributable contract value of the Group is about HK$4.67 billion).

 

New Contract Awarded

(HK$ billion) Four Months ended30 April 2014 Four Months ended30 April 2013 Change(%)
InfrastructureInvestment 9.62 6.15 +56.4
Affordable Housing 9.62 6.15 +56.4
Infrastructure
Cash Construction& Related 17.26 13.85 +24.6
PRC 0.65 0.28 +132.1
Hong Kong 6.13 11.10 -44.8
Macau 10.48 2.47 +324.3
Far East Global * 0.68 0.44 +54.5
Total 27.56 20.44 +34.8

* As Far East Global Group Limited (“Far East Global”) announces its operating data on a quarterly basis, the figures in this row, which are the value of new contracts awarded of Far East Global for the three months ended 31 March 2014 and 31 March 2013, will be updated in the monthly update of operating information of the Company for June 2014 after Far East Global has announced its operating information

for the second quarter of 2014.

Project in Progress

(HK$ billion) As of30 April 2014 As of30 April 2013 Change inBacklog(%)
(HK$ billion) TotalValue Backlog TotalValue Backlog Change inBacklog(%)
InfrastructureInvestment 60.31 39.78 41.58 29.64 +34.2
Affordable Housing 38.99 31.01 26.00 21.95 +41.3
Infrastructure 21.32 8.77 15.58 7.69 +14.0
Cash Construction & Related 75.81 48.94 67.01 39.99 +22.4
PRC 1.30 0.84 3.39 0.80 +5.0
Hong Kong 60.56 35.61 58.33 34.89 +2.1
Macau 13.95 12.49 5.29 4.30 +190.5
Far East Global ** 3.64 2.70 3.34 1.74 +55.2
Total 139.76 91.42 111.93 71.37 +28.1

 

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