Universal Entertainment Culture (01046) issued an announcement. On January 29, 2024, Huan, an indirect wholly-owned subsidiary of the company...
According to Zhitong Finance App, Global Entertainment Culture (01046) announced that on January 29, 2024, the company's indirect wholly-owned subsidiary Huanyu Digital Entertainment and Global Property Investment (all of its issued share capital is owned by Mr. Lam (founder, chairman, executive director and controlling shareholder of the company)) entered into a lease agreement for the Wailun Center property. The monthly rent is HK$244,000 (excluding rates, government land rent and management fees).
According to the announcement, since the Group has been using Wailun Center properties since the beginning of 2000, the directors believe that if the Group continues to invest in leasing Weilun Center properties from Universal Properties, it can save a lot of time and costs (in terms of relocation and renovation).