Parkson inks 10-year China agreement

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 m 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 achieved sustained profitability, gained a good reputation and received market recognition via such a department store,” it said.