By Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
ANNOUNCEMENT OPERATING INFORMATION FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2013
This announcement is made by Far East Global Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Company wishes to provide to its shareholders the attached operating information which contains certain operating data of the Group for the twelve months ended 31 December 2013 (the "Quarterly Update"). The Quarterly Update is also available on the website of the Company (www.fareastglobal.com).
The Quarterly Update has been prepared based on internal management records of the Group which have not been audited or reviewed by external auditors, and as such the data is for investors' information only. Such data may differ from figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual, semi-annual or quarterly basis due to various uncertainties during the process of collection and collating of such data. The Quarterly Update does not constitute, nor should it be construed as, an offer or solicitation for the purchase or sale of any securities or financial instruments of the Group. It does not and it is not intended to provide any investment service or investment advice.
Hong Kong, 10 January 2014
By Order of the Board
Chairman and Non-executive Director
As at the date of this announcement, the Board comprises Mr. Zhou Yong as Chairman and Non-executive Director; Dr. Cheong Chit Sun (Vice-chairman and Chief Executive Officer), Mr. Wang Hai and Mr. Chan Sim Wang as Executive Directors; and Mr. Zhou Jinsong, Mr. Hong Winn and Ms. Kwong Sum Yee Anna as
Independent Non-executive Directors.
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QUARTERLY UPDATE - OPERATING INFORMATION FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2013
The Group recorded a new contract value of HK$1,826 million in the twelve months ended 31
December 2013, representing a growth of 55.3% as compared with the same period last year, and hence achieved a 101.4% completion of the full year target of 2013 (which is not less than HK$1,800 million).
As of 31 December 2013, the on-hand contract value amounted to approximately HK$3,360 million, among which the backlog was approximately HK$2,326 million (representing an increase of 27.9% as compared to the backlog as of 31 December 2012), which meets the Group's expected future works.
The Group is pleased to announce that the Group's target for new contracts to be awarded in 2014 is no less than HK$2,000 million.
New Contract AwardedHK$ million | Year ended 31 December 2013 | Year ended 31 December 2012 | Change (%) |
North America* | 943 | 1,091 | -13.6 |
PRC (excl. HK & Macau) | 73 | 33 | 121.2 |
Asia Pacific and others | 810 | 52 | 1457.7 |
Total | 1,826 | 1,176 | 55.3 |
HK$ million | As of 31 December 2013 | As of 31 December 2012 | Change in Backlog (%) | ||
HK$ million | Total Value | Backlog | Total Value | Backlog | Change in Backlog (%) |
North America* | 2,359 | 1,580 | 2,074 | 1,465 | 7.8 |
PRC (excl. HK & Macau) | 159 | 109 | 667 | 320 | -65.9 |
Asia Pacific and others | 842 | 637 | 43 | 33 | 1830.3 |
Total | 3,360 | 2,326 | 2,784 | 1,818 | 27.9 |
* North America region includes projects from United Kingdom
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