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Asian Growth Properties Terminates Management Agreement With SEA Holdings

Mon, 11th Nov 2013 17:35

LONDON (Alliance News) - Asian Growth Properties Ltd Monday said that it has mutually agreed to terminate its management agreement with South-East Asia Investment And Agency Co, a wholly-owned subsidiary of SEA Holdings Ltd.

The Hong Kong-based China property development and investment company said that the agreement will be terminated as of January 1, 2014.

The company entered into a management agreement with South-East Asia Investment And Agency Company in 2006, for the management services of its property portfolio.

It said that the lease agreements for Dah Sing Financial Centre will also terminate with effect from the same date.

Asian Growth Properties' shares last traded at 19.00 pence per share, up 8.6%.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

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