Asia Commercial Holdings Limited (“Asia Commercial,” stock code: 104) released a supplemental announcement related to its annual report for the year ended 31 March 2025. The disclosure centers on a continuing connected transaction involving a tenancy agreement entered into on 1 September 2021.

Under this agreement, an indirectly wholly-owned subsidiary, Juvenia Montres S.A. (“Juvenia”), leased part of a property located at Rue de Châtelot 21, 2304 La Chaux-De-Fonds, Switzerland, along with 13 parking spaces, to Ball Watch Company SA (“Ball Watch”) for 36 months from 1 September 2021 to 31 August 2024. The monthly rent is CHF11,250. Ball Watch is owned by an Executive Director and controlling shareholder of Asia Commercial, making the arrangement a connected transaction in accordance with the Listing Rules.

According to the supplemental announcement, independent non-executive directors reviewed the arrangement and considered it to be in the ordinary and usual course of business, on normal commercial terms, and in the interest of shareholders as a whole. The auditor confirmed that there were no issues causing concern about the approval, execution, or cap under the agreement. The company stated that all other information in the annual report remains unchanged.