Bar Pacific Group Holdings Limited (Stock Code: 8432) has entered into a Tenancy Agreement with Jade Land Resources Limited as landlord for a fixed term of two years, covering 1 January 2025 to 31 December 2026. The agreement covers a premise located in Park Central, Tseung Kwan O, with a monthly basic rent of HK$86,570 plus an additional turnover rent of 13% if the gross receipts exceed that basic amount.

Subject to the terms of the agreement, the total rental payable over the two-year period is capped at HK$2,078,000, and the recognized right-of-use asset is estimated at approximately HK$2,045,000 in accordance with HKFRS 16. This arrangement constitutes a discloseable transaction under GEM Listing Rules because the applicable percentage ratios exceed 5% but are lower than 25%. The company believes that this location is strategically beneficial for expanding its bar and restaurant operations in Hong Kong, with the rental determined after arm’s length negotiations and reference to prevailing market rates.