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Tang Palace (China) Holdings Ltd announces formation of joint venture with Shin Yeh In Taiwan


Thursday, 17 Jul 2014 08:32am EDT 

Tang Palace (China) Holdings Ltd:Enters into the joint venture and shareholders’ agreement with an independent third party, Shin Yeh, pursuant to which TRHII and Shin Yeh will make equity capital contribution of HK$3,000,000 and HK$7,000,000 respectively to the JV Company.TRHII and Shin Yeh will respectively hold 30 and 70 pct shareholding in the JV Company which will operate self-owned restaurants in Taiwan principally serving Malaysian dishes under the PappaRich Trademark.Under the joint venture and shareholders’ agreement, the JV Company is also entitled to grant franchise right to third parties franchisees to operate restaurants in Taiwan principally serving Malaysian dishes under the PappaRich Trademark. 

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