HONG KONG — Luk Hing Entertainment Group Holdings Limited (“Luk Hing Entertainment” or the “Group”; stock code: 8052), a premium clubbing and entertainment business operator based in Macau primarily engaged in operating Club Cubic.
Being the exclusive master franchisee of “Monkey Museum” entertainment business in the People’s Republic of China (the “PRC”) after entering into an exclusive master franchising agreement with Yuri Holdings Co., Ltd. (“Yuri”) earlier, Luk Hing Entertainment today is pleased to announce that the Group and Yuri have entered into a sub-franchising agreement with a sub-franchisee in the PRC for the opening and operation of the first ‘Monkey Museum’ night club in Changsha City.
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The sub-franchisee is an independent third party and an operator of night clubs and bars in Hunan Province of the PRC. ‘Monkey Museum’ is the brand of a high-end social and entertainment business which was founded in Korea in 2016 by the internationally renowned artist and singer, Mr. Lee Seunghyun (“Seungri”).
Making reference to the voluntary announcement of the Group dated 28 December 2016, Luk Hing Entertainment has entered into an exclusive master franchising agreement with Yuri for an initial term of ten years in respect to the franchising of the ‘Monkey Museum’ entertainment business in the PRC.
The Group is responsible for identifying and recruiting suitable sub-franchisees for the operation of ‘Monkey Museum’ bars, lounges and night clubs in the PRC. The Group will receive a portion of the franchising fees in return for its services.
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Mr. Choi Siu Kit, Executive Director and Managing Director of Luk Hing Entertainment, said, “It is our great pleasure to collaborate with Seungri, who is also our cornerstone investor for the listing of the Group’s shares on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited last year, to bring the first prestigious and fascinating ‘Monkey Museum’ night club to the PRC. Leveraging our experience in operating one of Asia’s largest and most prestigious must-go clubs, Club Cubic, in Macau, the Group promises to offer the best clubbing and entertainment experience to the PRC market. Looking ahead, Luk Hing Entertainment will continue to actively seek for suitable locations and sub-franchisees to further expand the brand of ‘Monkey Museum’ to other parts of the country.” – BusinessNewsAsia.com