[Caihua News] Oriental University City Holdings (08067.HK) announced that the company's direct wholly-owned subsidiary OUC Malaysia (the company's direct wholly-owned subsidiary) and tenant Raffles College of Higher Education Sdn. Bhd. A new tenancy agreement was entered into on 10 December 2021 to renew the tenancies of these properties for a period of three years from 1 January 2022 to 31 December 2024.
The monthly rent is 167370 ringgit. The leased property is used as a school building. The total annual rental payable under the new tenancy Agreement will be approximately 2.0084 million ringgit (equivalent to approximately HK $3.7668 million). In view of the fact that these properties are leased by tenants as school premises and in line with the Group's existing customer profile, and the proposed annual rental metal is fair and reasonable and in line with the current market rent of similar properties in the vicinity, the Board considers that it is beneficial to the Group to continue to let these properties to tenants.