31st May 2019 11:47
LONDON (Alliance News) - Surveillance systems supplier Univision Engineering Ltd said Friday its temporary suspension from tendering for public works has been lifted with immediate effect.
The suspension lift was officially confirmed by the Hong Kong Government Works Branch.
The suspension was enacted by the works branch under the Electrical & Mechanical Services Department, due to a substantial increase in work from the MTR Corp contract.
"Whilst the effect of this temporary suspension had been insignificant given the group's current workload, especially with the MTRC contract, we are delighted to be in a position to tender for additional government work once again. Given the MTRC contract, this has been a very busy period for UniVision and we look forward to reporting our final results in August," said Chair Stephen Koo.
In addition, a full-year's contribution from the MTR contract has led UniVision to expect revenue and profit for the year to the end of March to be ahead of the year before.
Shares in UniVision Engineering were up 3.8% at 2.13 pence on Friday.
Related Shares:
UVEL.L