RE: Question for the board4 Sep 2018 19:23
I bought a few more today . Like you i understand the contract has only just started to be invoiced.
As announced on 17 April 2018, the Company invoiced HK$5.1m to MTRC in the financial year ended 31 March 2018. This leaves a further value of HK$402.2m over the remaining five and half years of the contract.
Always was 2019 for me and with only 3/4 months till the Interims i have been accumulating .
I also found this part interesting and a reason we might not get much news on others contracts won over the next 6 months.
The Major Contract with MTRC led to a significant annualised outstanding workload value which requires the Company to have additional working capital in the financial assessment by the Hong Kong Government. Works Branch. A shortfall in working capital of GBP 0.62m (HK$6m) existed in the 2017 financial test. This meant that the Company is suspended, by this customer, from tendering for additional public works contracts for up to six months from 27 July 2018 until the shortfall has rectified.