Best Pacific International Unit to Lease Four Factory Buildings from Chairman

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Best Pacific International Unit to Lease Four Factory Buildings from Chairman

MT Newswires Live03-04

Best Pacific International (HKG:2111) subsidiary Dongguan Best Pacific Textile agreed to lease four factory buildings from Chin Lee Steel Industry for three years, a Friday Hong Kong bourse filing said.

The buildings are in proximity of the lessee's existing production facilities, have a total leasing area of 17,752.2 square meters, and are located at Xinsha Port Industrial Park, Machong Town, Guangdong Province, China.

The term of the lease started on Friday, Feb. 28 and will expire on Feb. 27, 2028, with the total monthly rent for the four buildings varying from 644,405 yuan to 745,592 yuan.

The buildings will be used as production plants or as warehouses.

The lessor is owned by Lu Yuguang, the chairman and controlling shareholder of the company.

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