King Fook Holdings Limited (HK:0280) has released an update.
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King Fook Holdings Limited has entered into new tenancy and licensing agreements with its landlord, a subsidiary of its controlling shareholder YCS, for its headquarters and retail outlet in King Fook Building, Hong Kong. The agreements, running from August 2024 to August 2025, cover multiple floors and telephone sets with a monthly rent of $818,600 and additional licensing and set charges. These transactions are considered fair, reasonable, and exempt from shareholder approval, providing the Group flexibility amid economic uncertainties.
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