CCTV technology supplier UniVision Engineering Ltd has won a HK$2.55m contract from the Hong Kong government following the lifting of the temporary tendering suspension.
The government did not want UniVision to tender for other work when it was busy on the initial stages of the MTR Corporation contract. This contract was won in 2017 and is worth around £40m in total. Completion is expected in November 2023.
The contract is for a system designed to automatically identify abnormal behaviour of inmates in a correctional institution.
A lack of liquidity holds back the share price although it has risen to 2.4p recently.
Revenues and profit for the year to March 2019 will be much higher than last year when revenues were £5.6m and pre-tax profit on continuing operations was £735,000.
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