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AnAn to get US$3.5 m from deal with controlling shareholder
AnAn International has signed a service agreement with its controlling shareholder that will grant the company a service fee of US$3.5 million.
The company said after trading closed on Friday, the agreement signed with controlling shareholder, AnAn Group (Singapore) Pte Ltd, is for the provision of investment management and advisory services.
"The company shall be paid a service fee by AnAn Group, equivalent to an aggregate of US$3.5 million for the provision of services," it added.
The agreement takes effect from Jan 1, 2018 and will end on Mar 31, 2018.