Renewal of Contract with Mass Transit Railway

RNS Number : 3063T

UniVision Engineering Ltd

05 December 2011

 



                                                                                                     5 December 2011

UniVision Engineering Limited

("UniVision" or the "Group")

Renewal of Contract with Mass Transit Railway (MTR)

UniVision, the AIM listed Hong Kong based designer and installer of digital surveillance and integrated security systems, is pleased to announce that it has entered into a supplementary agreement to renew their existing contract with MTR Corporation Limited ("MTR"), the sole owner and operator of the mass transit railway in Hong Kong, to provide maintenance services to MTR's network of Closed Circuit Television ("CCTV") systems, public address systems and passenger information display systems on six railway lines in Hong Kong. The contract has been renewed for a further three year period commencing on 1 January 2012 on terms similar to the original contract signed in October 2008 which had a fixed value of HK$28.9 million over a three year period (equivalent to GBP 2.37 million on the basis of the current prevailing exchange rate).

The Group also provides other services to MTR outwith of this contract including providing CCTV recording for two of its lines, WRL (West Rail Line) and MOL (Ma On Shan Line).

Stephen Koo, Chairman of UniVision, commented: "This sizeable contract for3 years is significant to Univision. I am delighted that we have been successful in securing the contract. The combination of our price competitiveness and service levels presents a compelling reason why we should have been engaged. Whilst we will continue to look for opportunities to expand our CCTV business both geographically and from a product range perspective this is our core market so it is particularly pleasing that we hold such a strong position in Hong Kong."

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For further information visit www.uvel.com or contact

Univision Engineering Limited	[phone]
Stephen Koo, Chairman
Chun Hung Wong, CEO Nicholas Lyth, Non-Executive Director	[phone]
Allenby Capital Limited (Nominated Adviser/Broker)	[phone]
Nick Athanas/James Reeve

Notes to Editors:

About UniVision Engineering

UniVision was incorporated in Hong Kong in 1979 and is now established in Hong Kong, Macau and China. The Group designs, sources and sells its own brand-name products and OEM products including, Microprocessor CCTV Control Systems, Video Distribution Amplifiers, Fibre Optic Transmission Systems and Smart Card Access Systems.

UniVision currently offers hybrid security systems and has a portfolio of cutting edge digital technology used by its blue chip client base and the Hong Kong Government. UniVision is included in the Hong Kong Government's list of "Approved Suppliers and Installation of Video Electronics Equipment".

To date the Group has completed high profile projects for clients including Hong Kong International Airport, Tsing Ma Bridge Crossing, Mass Transit Railway, Shanghai Plaza 66 and Sydney CityRail Network selling its products through its distribution channels in China, Taiwan and other Asian countries.

 

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