Kingsmen Creatives awarded $75.4m in Formula 1 and theme park contracts

Awarded to wholly-owned subsidiary.

In a release, the Board of Directors of Kingsmen Creatives Ltd. announced that it has been awarded contracts valued at S$75.4 million. S$31.0 million has been awarded to wholly-owned subsidiary, Kingsmen Exhibits Pte Ltd, for five contracts for the FORMULA 1 SINGAPORE GRAND PRIX by Singapore GP Pte Ltd. In addition, Kingsmen Shanghai Co., Limited has been awarded three contracts valued at S$44.4 million for works at a theme park in China for a US theme park operator.

The five contracts for the FORMULA 1TM SINGAPORE GRAND PRIX involve fabrication and construction of grandstand seats at the Esplanade Waterfront, Padang and Pit Straight over three years, as well as interior fit out works at the Paddock Club, and works at the corporate hospitality suites over five years.

The three contracts for the theme park in China, to be completed for the slated opening at the end of 2015, encompass the design, fabrication and installation of thematic show sets, props, lightings and audio visual fittings, among others. The contracts are expected to contribute positively to the earnings per share or net tangible assets per share of the Company and its subsidiary companies over the next five years.

None of the Directors has any interest, direct or indirect, in the contracts. As far as the Directors are aware, none of the controlling shareholders of the Company has any interest, direct or indirect, in the contracts.