HONG
KONG, March 7, 2024 /PRNewswire/ -- SU Group
Holdings Limited (Nasdaq: SUGP) ("SU Group" or the "Company"), an
integrated security-related engineering services company in
Hong Kong, today announced that it
has won a 2-year security guarding bid for a property managed by
one of the largest private property asset and facility management
groups in Hong Kong, initially
covering a premier 600-unit urban property spanning 3 city blocks
in downtown Hong Kong.
The property has been managed by the management group that holds
a significant market share of composite residential development
assets and manages a total of 100 million square feet of real
estate assets. This is their first time outsourcing security
guarding service. The parties have signed a letter of intent and
the Company intends to begin service on April 1, 2024. The parties are actively
working towards finalizing a definitive agreement with respect to
the project.
Security guarding solutions encompass a range of services and
measures designed to protect people, property, and assets. SU
Group's security guarding solutions are customizable based on the
specific needs and risks of a particular environment, and they play
a crucial role in maintaining a secure and safe atmosphere. These
solutions typically involve the presence of trained security
personnel to deter, detect, and respond to security threats.
SU Group's Chairman and CEO, Dave
Chan, commented, "We successfully won this showcase 2-year
bid based on our track record of successfully managing high-profile
areas, where we have consistently demonstrated our service quality
and built both our reputation and credibility. This is the first
time security for this prestigious property is being outsourced,
which speaks volumes to our established track record of excellence,
the high quality of our security solutions portfolio and the
strength of our customer relationships. Contracts with premiere
asset owners and managers directly align with our growth strategy.
By scaling our security solutions across multiple properties, we
aim to support and grow alongside these larger customers, gaining
crucial visibility and driving overall business growth."
About SU Group Holdings Limited
SU Group (Nasdaq: SUGP) is an integrated security-related
services company that primarily provides security-related
engineering services, security guarding and screening services, and
related vocational training services in Hong Kong. Through its
subsidiaries, SU Group has been providing turnkey services to the
existing infrastructure or planned development of its customers
through the design, supply, installation, and maintenance of
security systems for over two decades. The security systems that SU
Group provides services include threat detection systems, traffic
and pedestrian control systems, and extra-low voltage systems in
private and public sectors, including commercial properties, public
facilities, and residential properties in Hong Kong. For more information visit
www.sugroup.com.hk.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "anticipate," "estimate," "plan," "project," "continuing,"
"ongoing," "expect," "we believe," "we intend," "may," "should,"
"will," "could" and similar expressions. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's ability to renew contracts with
recurring customers; the Company's ability to accurately estimate
risks and costs and perform contracts based on the Company's
estimates; the Company's relationship with the Company's suppliers
and ability to manage quality issues of the systems; the Company's
ability to obtain or renew the Company's registrations, licenses,
and certificates; the Company's ability to manage the Company's
subcontractors; the labor costs and the general condition of the
labor market; implementation of the Company's expansion plans and
the Company's ability to obtain capital resources for planned
growth; the Company's ability to acquire sufficient products and
obtain equipment and services from the Company's suppliers in
suitable quantity and quality; the Company's ability to
expand into new businesses, industries, or internationally and to
undertake mergers, acquisitions, investments, or divestments;
changes in technology and competing products; general economic and
political conditions, including those related to the
security-related engineering services industry; possible
disruptions in commercial activities caused by events such as
natural disasters, terrorist activities, political, economic, and
social instability, and fluctuations in foreign currency exchange
rates, and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the Securities and Exchange Commission (the "SEC"), including
the Company's most recently filed Annual Report on Form 20-F and
its subsequent filings. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC.
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SOURCE SU Group Holdings Limited