Ying Li International Real Estate (SGX:5DM) has entered into two management services agreements with EBA (Shanghai) Commercial Management for the operation of its Chongqing shopping centers, IMIX Park Jiefangbei and IMIX Park Daping, according to a Tuesday filing on the Singapore Exchange.
Under the agreements, EBA (Shanghai) Commercial Management will provide marketing, leasing, operational, financial, and IT services, among others, for a total fee of 7.8 million yuan.
EBA (Shanghai) Commercial Management is a subsidiary of China Everbright (HKG:0165), which holds a 72.04% stake in Ying Li, making this an "interested person" transaction under SGX rules.
The contracts replace existing agreements with revised terms and will run through 2024, with an extension option for 2025.
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