The board of directors of CNQC International Holdings Limited announced that construction contracts have been awarded by a subsidiary of Oxley Holdings Limited to a wholly-owned subsidiary of the company for the main contract works for the proposed residential development with basement carparks, swimming pool and communal facilities comprising of 6 blocks residential flats at Rifle Range Road (Bukit Timah Planning Area) in Singapore on 31 December 2018. Subject to the completion of all construction works as stated in the Contract, the total contract sums of the contracts are expected to be approximately HKD 500 million (including all contingent and/or provisional contract amounts) (the Contract Sum') and the Contracts are expected to be completed by the end of November 2021. As the Contract Sum includes all contingent and/or provisional contract amounts which may or may not materialise, the actual Contract Sum derived by the Group from the Contract may or may not total to the Contract Sum.