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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.

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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.