Cafe de Coral Group (00703) said it signed two renovation contracts with Baozheng Construction on June 15 and on Thursday, with a combined value of MOP14.43 million, or about HK$13.997 million.
The work covers the ground floor and basement of the Macau Regency Hotel site, where the group has operated its Japanese restaurant brand Edo Japanese Restaurant since 2009. The company said the renovations are intended to improve the dining environment, facilities and customer experience, and expects the second project to be completed in the fourth quarter. Funding for the contracts has been and is expected to be provided through internal resources and/or bank borrowings, according to ETNet.