Harbour Ring signs factory lease

PUBLISHED : Thursday, 05 March, 1998, 12:00am
UPDATED : Thursday, 05 March, 1998, 12:00am
 

Harbour Ring International has signed a lease agreement under which it will rent a 110,000 square metre factory in Zhongshan for 12 years. The monthly rent will be nine yuan (about HK$8.37) per square metre for the first 3 years, 9.9 yuan for the next three years and 10.89 yuan for the remainder of the term. In addition, the company will also pay an annual 'environmental maintenance services' fee of 50,000 yuan for the first 3 years, 55,000 yuan for the next three years and 60,500 for the remainder.


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