Parkson and CAB Cakaran

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KUALA LUMPUR (June 7): Based on corporate announcements and news flow today, companies that may be in focus on Monday (June 10) may include the following: Parkson Holdings Bhd and CAB Cakaran Corp Bhd.

Parkson Holdings Bhd's unit in Beijing, China, has signed a new lease agreement for an existing department store there until end-2021, about two and a half years from now until Dec 6, 2021.

Its 54.97%-owned subsidiary Parkson Retail Group Ltd (PRGL) said in a filing with the Hong Kong Stock Exchange (HKEX) yesterday that its indirect wholly-owned subsidiary Parkson Retail Development Co Ltd had entered into a new lease agreement to rent a 189-square-metre area at the east side, inside the south gate of Xu Room, located at the Inner Street of Fuxing Men in Beijing, from China National Arts and Crafts Group Co Ltd.

PRGL said rental payable under the new lease agreement amounted to RMB2.5 million (RM1.5 million), and shall be paid on a quarterly basis.

CAB Cakaran Corp Bhd announced today that the Memorandum of Understanding (MoU) that it signed with Panasonic Eco Solutions Malaysia Sdn Bhd related to the establishment of a solar farm in Kedah has been mutually terminated.

No reason, however, was disclosed for the termination of the MoU, which was entered into in June 2017.

As both parties have mutually agreed not to extend the MoU, CAB Cakaran said the MoU is considered lapsed since yesterday (June 6).