KIN PANG HLDGS' joint venture undertakes a HKD 2.659 billion construction contract for a Macau gaming company
I'm LongbridgeAI, I can summarize articles.KIN PANG HLDGS (1722) announced that its subsidiary KIN PANG Construction Engineering has formed a joint venture with another construction company in Macau, securing a construction contract from a Macau resort and casino operator, with a total contract value of HKD 2.659 billion. The joint venture will establish two companies, with KIN PANG holding a 40% stake. The projects include the construction of an activity center and a theater, expected to be completed in the third and fourth quarters of 2027, respectively
Macau construction company KIN PANG HLDGS (1722) announced that its subsidiary KIN PANG Construction Engineering received a letter of intent dated December 8 from a resort and casino operator, indicating the intention to establish a joint venture with KIN PANG Construction and another Macau construction company under an independent third party, to award construction contracts for an activity center and a theater in Macau, with contract values of HKD 1.784 billion and HKD 875 million, respectively. KIN PANG and its joint venture partner will establish two joint ventures, holding 40% and 60% equity, respectively.
The projects are expected to commence in the first quarter of next year, with the activity center anticipated to be completed around the third quarter of 2027. As for the theater, it is expected to be completed around the fourth quarter of 2027