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Tue 30 Dec 2008 02:41 AM

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Depa JV wins $32mn Singapore hotel contract

Majority Dubai-owned SE Asia venture to fit out Sentosa island resort.

Dubai-based interiors contractor Depa Ltd said on Monday its joint venture had won a 118 million dirham ($32.13 million) contract to fit out a holiday resort in Singapore.DDS Contracts & Interior Solutions Pte Ltd (DDS), in which Depa holds 55 percent, has been contracted to provide interior design works and services at Resorts World, on the island of Sentosa, Depa said in a statement on its website. The joint venture targets interior contracts in the hospitality and commercial segments within Singapore, Malaysia, Thailand, Indonesia and Vietnam.

Design Studios holds a 45 percent share in DDS, the statement said. Depa, which listed shares on the Dubai International Financial Exchange in April, said the contract is expected to "contribute positively" to Design Studio's and Depa's financial performance for 2009 and 2010. (Reuters)

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