Success Universe subsidiary rents out Admiralty office to Chairman’s company

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Lottery business and Ponte 16 operator Success Universe has announced that it will be renting out a new space in central Hong Kong in the Admiralty district via a subsidiary, according to a filing with the Hong Kong Stock Exchange. The HK$465,348 monthly rental fee will be paid out by Success International Management Services, which is wholly owned by Chairman of the Board Sonny Yeung Hoi Sing, to Good Sun Development Limited – a wholly owned subsidiary of Success Universe.
The current rental period is for two years with an optional two-year extension, ‘at the then open market rental’, with a rental exemption from July 2 until September 1 this year, due to current occupants, notes the filing. The intention of the space is for office use.