FOR IMMEDIATE RELEASE

Yau Lee - Hsin Chong Joint Venture awarded new contract from
Hong Kong Housing Authority worth HK$2.9 billion

(3 May 2010, Hong Kong) Yau Lee Construction Company Limited, wholly owned subsidiary of Yau Lee Holdings Limited (stock code: 406), is pleased to announce that the Joint Venture formed by the Company and Hsin Chong Construction Company Limited (stock code: 404), has been awarded the Integrated Contract for Construction of Public Rental Housing Development at Kai Tak Site 1B at Kowloon (Contract No. 20090006) by the Hong Kong Housing Authority. The Contract was signed by Mr. WONG Ip Kuen, (Director of Yau Lee Construction Company Limited) and Messrs. Edmund K.H. LEUNG and James K.F. LEE (Directors of Hsin Chong Construction Company Limited), representing the Yau Lee - Hsin Chong Joint Venture and Mr. CHAN Chun Yuen, Director of Housing, representing the Hong Kong Housing Authority, in a simple yet solemn ceremony.

The scope of this Contract comprises mainly the design and construction of nine nos. 36 to 40-storey domestic blocks (the total no. of flat production under this project is 8,158), which encompass commercial facilities, carport, ancillary and welfare facilities including kindergarten, district councilor's office and estate management office, drainage and associated external works. This forty-five months contract is worth approximately HK$2.9 billion, with expected completion date by the end of August 2013.

After the contract-signing ceremony, Mr. Ricky So, Technical Director of the Yau Lee - Hsin Chong Joint Venture, remarked, "The joint-venture partners are greatly honoured to be awarded this Hong Kong Housing Authority construction project of such size and scale, the first contract for the development of Kai Tak Site at Kowloon. This follows the JV's successful completion of the project 'Design and Construction of the Extension Block of The Prince of Wales Hospital' recently. Yau Lee and Hsin Chong's synergy in delivering quality construction works is well documented and recognized. Yau Lee will continue to work closely with Hsin Chong Construction Company Limited and make good use of both companies' resources, as well as increasing the JV's competitiveness and productivity with the application of stringent cost control, effective management and advanced technologies."

Please download the photo at http://ftp.jetum.com/kt.jpg
Caption: "The Contract was signed by Mr. Wong Ip Kuen, Mr Edmund K.H. Leung and James K.F. Lee, representative of Yau Lee - Hsin Chong Joint Venture and Mr. Chan Chun Yuen, Director of Housing, representative of Hong Kong Housing Authority"

This press release is distributed by Jetum Communication Consultants Limited on behalf of Yau Lee Holdings Limited. For more details, please contact James Leung or Cecilia Kong at 2566.4916

© Copyright 1996-2012 irasia.com Ltd. All rights reserved.

DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website. TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website.