Summary by Futu AI
Tan Chai International Co., Ltd. (stock code: 2217) announced that it signed a new Business Advisory Services Agreement and Operational Support Services Agreement with East Toledo Hong Kong and Toridoll Japan on 28 March 2024, valid for a period of three years from 1 April 2024 to 31 March 2027. East Toledo Hong Kong is the controlling shareholder of Tam Chai International, holding approximately 74.26% of the issued share capital and is a wholly owned subsidiary of Toridoll Japan. Therefore, these transactions are considered continuing connected transactions and are subject to the reporting, annual review and announcement requirements of Chapter 14A of the Listing Rules. The Board considers that the terms of these agreements are fair and reasonable and are in the overall interests of the Company and its shareholders.