ConstructionConstruction • September 26th, 2001
Contract Type FiledSeptember 26th, 2001The Group had in hand contracts valued at $9.0 billion at the end of August 2001. They included two Government contracts for the construction of five schools in the territory, one Government contract in joint venture for Penny’s Bay reclamation Stage 1, Government contracts for the widening of Tolo Highway, improvement works at Wong Chu Road in Tuen Mun, design and construction of Shatin Government Offices, Polytechnic University Phase VI development, three KCRC West Rail projects, a residential development at 41C Stubbs Road, construction of Science Park Phase 1A at Pak Shek Kok, the Qingzhou Min Bridge in Fuzhou, Shanghai Expo Centre, Shanghai Outer Ring Immersed Tube Tunnel project and a Chinese Government joint venture contract for the main construction of the National Grand Theatre in Beijing. The Directors are confident that all the projects will be completed despite the Group’s liquidity problems. Provisions have been made against those contracts where losses may be incurred due