Zen Pacific looks to public housing
Civil Engineering company Zen Pacific Construction says it intends to move into the public housing construction business after acquiring 90 per cent of building company Ngo Kee Construction.
Newly appointed Ngo Kee managing director, Fung Ching-nam, said the company had put in a bid for the latest Housing Authority project at Wang Tau Hom.
Zen Pacific deputy chairman Derek Zen Wei-peu said his company bought Ngo Kee for its permits to build public houses on behalf on the Government and the Housing Authority.
'The inclusion of a building arm within the Zen Pacific construction group now means we can offer a full service to our clients, from land and marine civil engineering to building,' he said.
Zen Pacific said it wanted to play a significant part in meeting the housing targets set by the chief executive during the next few years.
John Loo, former managing director of Ngo Kee, will retain 10 per cent of the firm.
'I am very happy that Mr Loo has decided to stay at the company because he has great experience in the public building trade,' Mr Zen said.
He said most of the existing team at Ngo Kee would remain and the new owner would seek to strengthen and expand the team, with additional assistance from Zen Pacific.
'We'll be aggressively looking for new contracts for Ngo Kee in both the private and public sectors,' Mr Zen said.
Under its previous management, Ngo Kee was involved in the construction of buildings such as the Supreme Court and Hong Kong Polytechnic, but not top public housing projects.