Universal Entertainment Culture (01046) announced that on January 29, 2024, Universal Digital Entertainment, an indirect wholly-owned subsidiary of the company, and Universal 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 Centre property. The monthly rent is HK$244,000 (excluding rates, government ground 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).