We are a long-established Hong Kong chief contractor and subcontractor mainly engaged in providing (i) building construction services; (ii) remodeling, addition, decoration works and building services; and (iii) maintenance and restoration of historic buildings. During our track record period, we undertook 14, 26 and 4 large-scale building construction services, remodeling, addition, renovation works and building services, as well as maintenance and restoration of historic buildings with contract values exceeding HK$3 million. At the last practicable date, we have 10, 12 and 22 major ongoing projects (in the process of construction or not yet started) in the areas of building construction services, remodeling, renovation works and building services and maintenance and restoration of historic buildings, respectively. At the last feasibility date, the total revenue anticipated to be confirmed from our ongoing projects after the track record period is approximately HK$[ 637.3] million, of which the total value of unsettled projects of approximately HK$360.7 million is expected to be confirmed for the year ending March 31, 2017. We acted as the chief contractor and subcontractor during the track record period until the last practicable date. As the general contractor, we carry out the works in accordance with the relevant contracts and may assign work to subcontractors under the supervision and management of our project management team. Our role as general contractor generally includes providing overall project management and supervising the work carried out by subcontractors and/or site workers to ensure that we meet contract requirements, including the quality, safety, and environmental protection of the project, and that the project is completed on schedule and within budget. As a subcontractor, we generally work under the supervision of the general contractor and provide assigned services. We generally obtain projects through a tendering process. For public sector clients, we generally identify potential projects by (i) receiving invitations to tender; and (ii) reviewing tender invitations published by government departments on various platforms (including the Gazette). In the case of private clients, we are generally invited by clients or agents acting on their behalf to submit bids for projects. During our track record period, our clients included governments, quasi-government organizations, universities, schools, and private companies. In the three years ending March 31, 2016, revenue from the five major customers accounted for approximately [73.4]%, [69.5]%, and [65.7]% of total revenue, respectively. We have maintained business relationships with some of our major clients for over five years. The Group holds a number of construction-related licences and qualifications that enable us to bid and carry out public works projects. The Group is listed in the Register of Contractors and the Special Register maintained by the Works Division of the Development Bureau. Being listed on the list of contractors and special lists allows us to bid for government contracts. The Group has been included as a Group A (probation period) contractor in the “Construction” category on the list of contractors since May 2012. Furthermore, the Group is one of the approved specialist contractors under the “Maintenance and Restoration of Historic Buildings” category and the “Electrical Installations” category of the special register, and has been authorized to carry out works and electrical installations relating to the maintenance and restoration of Western and Chinese historic buildings in Hong Kong.
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