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2003-12-12 08:47:00 a.m. HKT, XFNA
Hong Kong-listed V.S. Intl subsidiary to rent property from related company
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HONG KONG (AFX-ASIA) - Hong Kong-listed V.S. International Group Ltd said
wholly-owned subsidiary V.S. Technology Industry Park (Zhuhai) Co Ltd had
entered into a nine-year leasing agreement with China-based V.S. (Zhuhai)
Management Co Ltd.
V.S. (Zhuhai) Management (VS Management) is wholly-owned by executive
director of V.S. International Beh Kim Ling.
VS Management will lease a residential complex comprising 26 units and
other facilities to V.S. Technology to house its staff starting from Jan 15,
2004, the company said in a statement.
The company has budgeted a maximum rental of 2.5 mln hkd for the period
froom Jan 15 to Jul 31, 2004. It has also budgeted 10.3 mln hkd and 16.1 mln
hkd for the two financial years to Jul 31, 2005 and Jul 31, 2006 respectively.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/mh
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