The Board of Directors of Hitchins Group Ltd. (the "Company") wishes to announce that its wholly-owned subsidiary, CRG Contractors Pte Ltd, has been awarded a tender contract for the implementation of a greenroof system for the multi-storey car park at Punggol East (the "Contract"), by the Housing & Development Board.
The Contract is a pilot project to introduce minimal greenery on the roof deck of the multi-storey car park at Punggol East by the Housing & Development Board, as part of the National Greening of Singapore, led by the Garden City Action Committee.
The value of the Contract is approximately S$159,000. The commencement date for the Contract is 1 August 2003 and is expected to be completed by 31 August 2003.
The Contract is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current financial year ending 30 June 2003.