Pteris unit wins HK$238m contract

A SUBSIDIARY of Pteris Global Limited has won a contract worth HK$238.5 million (S$43 million) from the Airport Authority Hong Kong (AAHK).

Pteris Global said its subsidiary, Shenzhen CIMC-Tianda Airport Support Co Ltd, has received a letter of acceptance from AAHK for the supply and replacement of 75 units of aircraft loading bridges to Hong Kong International Airport's Terminal 1.

Delivery of the contract valued at HK$238.5 million is scheduled to commence in February 2016 and expected to be completed by 2018.

The contract follows an award AAHK made to CIMC-Tianda in 2014 for the supply and installation of 20 new airport passenger boarding bridges and the overhaul and refurbishment of 57 units of existing ALBs valued at over US$20 million.

Pteris Global expects the latest contract from AAHK to contribute positively to the consolidated earnings per share and net tangible assets of the group for the current financial year ending Dec 31 2016.