Tung Lok Restaurants’ 540 wholly-owned subsidiary Tung Lok Millennium has entered into a tenancy agreement with Novena Point for a period of 19.5 months.
The estimated rental fees payable during the duration of the lease is approximately $133,000 which represents 0.88% of the group’s latest audited net tangible assets (NTA) of $15.1 million.
The premise, which occupies a floor area of 743 square feet at 10 Sinaran Drive, will be used to operate a Lao Beijing restaurant.
Shares in Tung Lok closed flat at 13.2 cents on Nov 7.
