Kitchen Culture unit bags S$6m contract

Premium kitchen solutions provider, Kitchen Culture Holdings, on Friday announced that its 70 per cent-owned subsidiary, Kitchen Culture (Hong Kong) has bagged a contract worth HK$34.6 million (S$6 million) for the supply and installation of Eggersmann kitchen cabinets for the apartments in a prestigious residential development in Hong Kong.

The development project, located at 8 Mount Nicholson Road, The Peak, is developed by Market Prospect Limited, a joint venture between two Hong Kong property companies Wharf Holdings and Nan Fund Development, Kitchen Culture said in a statement.

The installation works to be carried out by the group is expected in 2016, Kitchen Culture said.

The group does not expect the contract to have a material impact on the earnings per share or net tangible assets per share of the group for the current financial year ending Dec 31, 2015.

As of June 30, 2015, the group's order book based on secured contracts amounted to approximately S$50 million. The secured contracts are expected to be fulfilled within the next three years.

The counter closed trading on Friday unchanged at 24 Singapore cents.