Lippo China Resources Limited (LCR) has executed a three-year connected tenancy agreement under which its indirect wholly-owned unit, Serene Yield Ltd., will lease Unit 4 on the ground floor of Hong Kong’s Lippo Centre (7,964 sq ft) to LCR Catering Services Ltd., an indirect non-wholly-owned subsidiary of Superfood Retail Ltd.

The lease runs from 22 August 2026 to 21 August 2029 and is designated for restaurant use. Monthly base rent is set at HK$0.35 million, exclusive of rates, service charge and other outgoings. Rent-free periods apply in the 1st, 13th and 25th months. A service charge of HK$0.08 million per month is payable, adjustable for cost increases but capped at HK$0.10 million. LCR Catering paid a HK$0.87 million deposit, equivalent to two months’ rent plus service charge.

Annual caps, representing maximum rental and service-charge income to Serene Yield, are HK$1.61 million for FY2026, HK$5.08 million for FY2027, HK$5.08 million for FY2028 and HK$3.49 million for FY2029, aggregating HK$15.26 million over the term. The figures were benchmarked against prevailing market rents for comparable properties.

Given that Serene Yield is wholly owned by LCR and LCR Catering is a connected subsidiary under Hong Kong Listing Rule 14A.16, the arrangement is classified as a continuing connected transaction. All applicable percentage ratios are below 5%, exempting the deal from independent shareholders’ approval while subjecting it to reporting and announcement requirements. Chairman Dr. Stephen Riady and Executive Director Mr. Brian Riady, both holding senior roles in related entities, abstained from the board vote.

LCR stated that maintaining uninterrupted use of the premises secures a stable rental stream and aligns with the group’s ordinary course of business. The company will disclose further details in its forthcoming annual reports, as required by Listing Rules 14A.71 and 14A.72.