KUALA LUMPUR (June 7): Parkson Holdings Bhd's unit in Beijing, China, has signed a new lease agreement for an existing department store there until end-2021, about two and a half years from now until Dec 6, 2021. In a filing with Bursa Malaysia, Parkson Holdings said this was disclosed on the Hong Kong Stock Exchange (HKEX) by its 54.97%-owned Parkson Retail Group Ltd (PRGL). PRGL said Parkson Retail Development is the existing tenant of the property under the previous lease agreement and the group has been carrying out retail business there since 1999. PRGL said its board is of the view that the rentals are reasonable and the terms of the new lease agreement, taken as a whole, are fair and reasonable. Parkson Holdings was unchanged at 26 sen at market break today, giving it a market capitalisation of RM277.47 million.

Source: The Edge Markets June 07, 2019 06:45 UTC