PETALING JAYA: Parkson Holdings Bhd
’s unit, Liupanshui Parkson Retail Co Ltd, has signed a 10-year tenancy agreement for its department store operations in the city of Liupanshui, Guizhou province, China.
In a filing with Bursa Malaysia, Parkson said the tenancy agreement was entered into with Guizhou Hanhua Real Estate Development Co Ltd to occupy 26,723 sq metres of space in the Baolong International Building.
Parkson said the tenancy will be for an initial term of five years from Jan 1, 2027 to Dec 31, 2031; and a continuing term of five years from Jan 1, 2032 to Dec 31, 2036.
“The group has been operating and managing its department store (within the Baolong International Building) since 2012 and has achieved sustained profitability, gained a good reputation and received market recognition via such a department store.
“It holds a significant commercial market share in Liupanshui City, which contributes to the value of the intangible assets of the group.”
