Flydoo Technology seals two-year Causeway Bay lease, recognising HK$1.40 million right-of-use asset

Bulletin Express06-02 22:23

Flydoo Technology Holding Limited (Flydoo Technology) announced that its wholly-owned subsidiary Worldwide Package Travel Service Limited has renewed the lease for its travel-agency retail shop at Suites 712-13, 7/F, Hang Lung Centre, 2-20 Paterson Street, Causeway Bay, Hong Kong.

The tenancy, signed on 2 June 2026 with Hang Lung Real Estate Agency Limited, runs from 1 July 2026 to 30 June 2028. Key commercial terms are:

• Year 1 (1 Jul 2026 – 30 Jun 2027): monthly rent of HK$0.06 million. • Year 2 (1 Jul 2027 – 30 Jun 2028): monthly rent of HK$0.06 million. • Security deposit: HK$0.23 million, equal to three months’ rent, management fee and government rates.

Under HKFRS 16, the agreement will lead Flydoo Technology to recognise right-of-use assets of approximately HK$1.40 million on its consolidated balance sheet, classifying the transaction as an asset acquisition. Based on the applicable percentage ratios prescribed by GEM Listing Rules, the lease constitutes a discloseable transaction, triggering announcement and reporting obligations but exempting the company from shareholder approval and circular requirements.

Management stated that the premises have served as the Group’s retail outlet since 2015; renewing the lease avoids relocation expenses and supports operational continuity for its core travel services business.

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