Integrated Waste Solutions (HKG:0923) agreed to surrender a long-term industrial lease in Tseung Kwan O to the Hong Kong Science and Technology Parks Corporation (HKSTP) at no consideration, according to a July 18 Hong Kong bourse filing.
Shares of the company were up nearly 7% in Monday morning trade.
The lease, originally granted in 2010 and set to expire in 2047, covers a 30,693-square-meter waste recovery facility. The disposal follows under-utilization concerns after the group discontinued its waste plastic recycling business in early 2024.
IWS expects to record a one-off loss of about HK$156 million related to the surrender, including the net book value of the property and associated transaction expenses.
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