On 5 March 2026, SJM Holdings Limited (00880) announced updates regarding its continuing connected transactions with controlling shareholder Sociedade de Turismo e Diversões de Macau, S.A. (STDM) and the termination of an existing arrangement with an STDM subsidiary.
SJM Holdings renewed the existing products and services master agreement with STDM, effective 1 January 2026 for 12 months. Under the new arrangement, STDM Group will continue providing hotel accommodation, promotional and advertising, food and beverage, transportation, maintenance, laundry, and hotel management and operation services to SJM Holdings’ subsidiaries. The annual cap for 2026 on hotel accommodation services is HK$96.60 million, and the annual cap for promotional and advertising services is HK$27.30 million.
Separately, the chips agreement, originally signed on 18 June 2008, remains unchanged. However, new annual caps for redemptions were introduced for the three years ending 31 December 2028, each set at HK$75.80 million, reflecting the outstanding STDM chips still in circulation.
Additionally, SJM Resorts, an SJM Holdings subsidiary, and NYH, an indirect wholly owned subsidiary of STDM, have agreed to terminate the Right to Use a Shop Agreement effective 1 January 2027. As part of this termination, NYH will pay a total of HK$31.90 million, partly by set-off against the existing security deposit, partly by vouchers valued at HK$12.00 million, and partly through a cash payment of HK$5.60 million.
SJM Holdings advises that these transactions, which qualify as continuing connected transactions, are subject to announcement, reporting, and annual review requirements per the Listing Rules, but do not require independent shareholders’ approval. The board considers these arrangements to be in the ordinary and usual course of business and in the best interests of SJM Holdings and its shareholders overall.
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