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Zhongmin Baihui forms JVC with Mingfa Group to market, operate and manage Zhangzhou Mingfa Commercial Square

Felicia Tan
Felicia Tan3/12/2021 09:06 PM GMT+08  • 1 min read
Zhongmin Baihui forms JVC with Mingfa Group to market, operate and manage Zhangzhou Mingfa Commercial Square
Shares in Zhongmin Baihui closed 3 cents higher or 4% up at 78 cents on March 12.
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Zhongmin Baihui (China) Retail Group, a wholly-owned subsidiary of Zhongmin Baihui has signed an agreement with Mingfa Group (Zhangzhou) to form a 50/50 joint venture company (JVC) on March 6.

The new JVC will have a registered share capital of RMB20 million ($4.1 million).

The joint venture company will market, operate and manage Zhangzhou Mingfa Commercial Square, which has a gross floor area of 192,494.16 sqm (built-up area of 224,518.93 sqm), for a period of 20 years.

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