KORI HOLDINGS LIMITED

MEDIA RELEASE

FOR IMMEDIATE RELEASE

KORI HOLDINGS LIMITED SECURES TWO PROJECTS WORTH

S$52.3 MILLION

  • A Total of S$133.5 Million Worth of Contracts Have Been Secured Up to June
    2021

SINGAPORE: 28 June 2021 - Catalist-listed Kori Holdings Limited ("Kori" or the "Company", and together with its subsidiaries, the "Group") is pleased to announce that its wholly-owned subsidiary, Kori Construction (S) Pte. Ltd., has been awarded two contracts in two projects amounting to an aggregate of S$52.3 million between May 2021 to June 2021 (collectively, the "Projects").

The Projects are awarded by:-

  1. Samsung C&T Corporation for the supply and installation of temporary steel works at Contract N106 Design and Construction of North-South Corridor (Tunnel) between Novena Rise and Toa Payoh Rise ("N106 Project"); and
  2. Hwa Seng-ChyeJoo-Ho Lee Joint Venture for the supply, install, dismantle and buy back of steel struts and walers (Zone A to Zone F) at Contract N109 Design and Construction of North-South Corridor (Tunnel) between Pemimpin Place and Sin Ming Avenue ("N109 Project").

Mr Hooi Yu Koh, Executive Chairman and CEO of Kori Holdings Limited, said: "We are pleased to have been awarded these contracts for the North-South Corridor. This not only affirms our long-standing proven track record established over the years, but also signifies the trust and confidence that our customers and partners have in us".

The value of these two contracts, in addition to the six which were awarded to Kori between September 2020 and January 2021, amounts to S$133.5 million.

Kori is a Singapore-basedmulti-discipline engineering and construction services company. It is principally engaged in providing civil/structural engineering and infrastructural construction services as a sub-contractor for commercial, industrial and public infrastructural construction projects. Its customers include local and overseas developers in the engineering construction industry.

The contract with the largest value, N106 Project, was accepted by the Company today and is scheduled to be completed in 60 months from its commencement in the third quarter of 2021.

The Projects are expected to have a positive impact on the Group's earnings per share and/or net tangible assets per share of the Group for the financial year ending 31 December 2021.

KORI HOLDINGS LIMITED

None of the directors or substantial shareholders of the Company, as well as their respective associates, has any interest, direct or indirect, in the Contracts other than through their respective shareholdings in the Company.

- End -

About Kori Holdings Limited

Established in 1982, Kori Holdings Limited ("Kori" or the "Company", and together with its subsidiaries, the "Group"), is principally engaged in providing civil/structural engineering and infrastructural construction services as a sub-contractor for commercial, industrial and public infrastructural construction projects. Its portfolio includes supplying and installing strutting and decking for large-scale MRT construction projects such as the Circle Line and Downtown Line, as well as for construction projects such as Marina Bay Financial Centre and Sentosa Gateway. Kori was listed on SGX Catalist on 11 December 2012.

Issued on behalf of Kori Holdings Limited

For more information, please contact:

Patsy Phay/Cheng Yui Seeng

Mileage Communications Pte Ltd

Tel: 6222 1678

Fax: 6222 5378

Email:patsy@mileage.com.sg/yuiseeng@mileage.com.sg

_____________________________________________________________________________

This press release has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statementsor opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Attachments

  • Original document
  • Permalink

Disclaimer

KORI Holdings Ltd. published this content on 28 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 21:29:07 UTC.