MMP Resources signs deal to operate and manage Hokkaido ski lodge
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MAINBOARD-LISTED construction company MMP Resources said on Tuesday its subsidiary has signed an agreement with Japanese ski operator JRT Trading to operate and manage the Chisenupuri Ski Area in Hokkaido.
MMP and JRT will jointly operate the business for the 2016/17 winter season. MMP will commit 12 million yen (S$152,600) for operational expenses, and JRT will provide the required pre-season equipment and personnel to transport clients through the ski area.
According to the agreement, MMP also has the option to become the exclusive operator of the business from April 2017 for 2.5 million yen.
To finance this transaction, MMP will use the funding from its recently completed placement of shares to Blue Pegasus Capital and Vessel Gate Investment.
The Chisenupuri Ski Area is also located very close to the company's recently acquired "onsen" experience lodge accommodation.
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