SJM Holdings has announced it has renewed its products and services master agreement with STDM with effect from 18 June 2011. Pursuant to the renewed agreement, STDM will continue to provide hotel accommodation, entertainment and staff messing, dredging services, transportation and maintenance services to SJM Holdings. STDM is the controlling shareholder of SJM Holdings, with a 55.34 percent stake in the company. The agreement says the products and services transactions should be “made with reference to the prevailing market prices”. For each service and product area, an annual cap on transactions was established. For this year, the total cap reaches HK$723 million. Share //
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