The Board of Directors of Kingsmen Creatives Limited ("the Company") wishes to announce that its subsidiary Kingsmen Exhibits Pte Ltd was appointed the main contractor for the Body Worlds Exhibition 2003 at the Singapore Expo Hall, by Arts & Sciences Asia (Singapore) Pte Ltd.
The contract sum is approximately S$1.35 million and the commencement date for the contract was 23 October 2003. To date, the project has been substantially completed.
Further, the Company has secured the following contracts through its subsidiary Kingsmen Projects Pte Ltd:
(a) with Shopper's Stop Ltd, to design and fit-out its retail store at Malad in Mumbai, India for the contract sum of approximately S$948,000. The commencement date for the contract was 11 November 2003 and it is expected to be completed by 31 December 2003; and
(b) with DFS Venture Singapore Pte Ltd, to fit-out the Liquor & Tobacco Shop at Changi Airport Terminal 1 and 2 for the contract sum of S$3.0 million. The commencement date for the contract was 7 November 2003 and it is expected to be completed by 31 December 2003.
None of the directors and substantial shareholders of the Company has any direct or indirect interest in the above three contracts.
The above three contracts are expected to contribute positively to the earnings per share or net tangible assets per share of the Company and its subsidiaries for the current year ending 31 December 2003.