Yuk Wing Group Holdings Secures HK$11.8 Million Commercial Property Lease

Reuters
Jan 28
Yuk Wing Group Holdings Secures HK$11.8 Million Commercial Property Lease

Yuk Wing Group Holdings Ltd. has entered into a tenancy agreement for commercial premises, recognizing a right-of-use asset valued at approximately HK$11.8 million at initial recognition. The monthly rent for the premises is around HK$1.0 million, exclusive of rates, government rent, and management fees, with the total consideration payable over the lease term amounting to about HK$11.8 million. The agreement was negotiated on normal commercial terms, with the rent determined by reference to prevailing market rates for comparable properties. The landlord of the premises is ultimately wholly-owned by Mrs. Chu Yuet Wah, who is independent of the company and its connected persons.

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