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An update from Wai Kee Holdings Limited ( (HK:0610) ) is now available.
Wai Kee Holdings has updated the structure of its joint venture with Titan relating to excavation and lateral support works, shifting certain structural steel and port (barging facilities) works from Titan to two alternative sub-contractors, Build King Civil Engineering Limited and Build King (Zens) Engineering Limited, both wholly owned by Build King. Under a supplemental agreement, these alternative sub-contractors will contract directly with Vibro HK, with about HK$397.4 million of contract value removed from the original JV and Titan sub-contracts, while payment flows will continue to be managed through the Vibro-Titan JV and all other substantive terms of the joint venture remain unchanged; the company emphasizes that the change does not alter the nature or total quantum of works awarded to the Build King group and therefore does not require further independent shareholders’ approval under Hong Kong listing rules.
The most recent analyst rating on (HK:0610) stock is a Hold with a HK$0.91 price target. To see the full list of analyst forecasts on Wai Kee Holdings Limited stock, see the HK:0610 Stock Forecast page.
More about Wai Kee Holdings Limited
Wai Kee Holdings Limited is a Hong Kong-listed construction and infrastructure group with interests including civil engineering, construction services and related contracting activities, often operating through subsidiaries and joint ventures on large-scale public and private works projects in Hong Kong and the region.
Average Trading Volume: 664,350
Technical Sentiment Signal: Hold
Current Market Cap: HK$697.9M
See more insights into 0610 stock on TipRanks’ Stock Analysis page.