Lai Si Enterprise Wins HK$86 Million Renovation Contract

Lai Si Enterprise Wins HK$86 Million Renovation Contract

Lai Si Enterprise Holding Limited (“Lai Si Enterprise” or the “Group”; HKSE stock code: 2266), a leading commercial fitting-out contractor in Macau, has been awarded a renovation contract at an estimated contract sum of approximately HK$86 million by the Hong Kong Football Club. It is the first large-scale project landed by the Group in Hong Kong.

Mr. Lai Ieng Man, Chairman and Executive Director of Lai Si Enterprise, said, “The Group became listed on the Main Board of the Stock Exchange of Hong Kong in February 2017, which has given it access to the capital market in Hong Kong. And now we have won the first large-scale project in Hong Kong, indicative of our success in entering the Hong Kong market.

These achievements speak to our strong operational capability. Lai Si Enterprise has a history of over 29 years operating fitting-out and construction businesses in Macau. We believe, with our good reputation and prolific experience, we will be able to keep expanding our business in the Hong Kong market and achieve new breakthroughs in the future.”

The Chairman’s Bar

The renovation works for Hong Kong Football Club include mechanical ventilation and air conditioning, electrical engineering, plumbing and drainage engineering works, and glass conservatory structure. A substantial portion of them is expected to be completed by December 2017 and bring notable revenue to the Group.

There are a large number of commercial buildings in both Hong Kong and Macau, which means the demand for fitting-out and renovation works is huge. According to a Frost & Sullivan report, the fitting-out market in Hong Kong is expected to grow at a CAGR of approximately 10.2% between 2015 and 2020. As a leading commercial fitting-out contractor in Macau, Lai Si Enterprise boasts a solid position in the Macau market and a renovation business growing in steady strides.

Entrance Lobby

In early 2017, the Group became listed on the Main Board of the Stock Exchange of Hong Kong and expanding the Hong Kong market has since been among its major development goals. The Group has set up an office in Hong Kong and also an operation team dedicated to serving Hong Kong. Landing this first large-scale project in Hong Kong showed that the Group’s efforts to develop business in Hong Kong are starting to bear fruit. In the future, the Group will actively grasp the tremendous business opportunities in the Hong Kong market and keep pushing for wider market coverage.

About Lai Si Enterprise Holding Limited

Lai Si Enterprise Holding Limited is a leading commercial fitting-out contractor in Macau. Its major businesses include provision of fitting-out works, and serving as the main contractor for construction works and repair and maintenance works, mainly in Macau. According to Frost & Sullivan, in terms of revenue, the Group was the second largest commercial fitting-out contractor in Macau in 2015, with a market share of approximately 6.1%. The fitting-out projects it undertakes, classified according to customer types, include hotels and casinos, retail shops, restaurants and others. The Group’s construction services mainly include general construction and heritage conservation. The Group also provides repair and maintenance services to existing properties in Macau on ad-hoc basis or regularly over a fixed period. For more details, please visit www.lai-si.com<http://www.lai-si.com>.

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