During the duration of the lease, the estimated rental fees payable come up to around $1.9 million, which represents 18.29% of the latest audited net tangible assets (NTA) of Tung Lok Restaurants. Tung Lok Restaurants’ latest audited NTA was $10.2 million as at March 31.
Tung Lok Central Restaurant, the wholly-owned subsidiary of SGX-listed Tung Lok Restaurants, has entered into a tenancy agreement with Riverhub Pte Ltd to lease eight units and designated outdoor refreshment areas at The Central to operate Tung Lok Signatures for three years.
The eight units are located on the second floor of the mall on Eu Tong Sen Street.
