Sun Hung Kai & Co. renews management services deal with Allied Group

Sun Hung Kai & Co. Limited announced the renewal of its management services agreement with Allied Group Limited (AGL) for a three-year term, effective from January 1, 2026, to December 31, 2028. This agreement continues the company's reimbursement of AGL for management, consultancy, and business development services provided by AGL's management staff.

The company, approximately 73.51% indirectly held by AGL, will pay AGL a portion of actual costs incurred, ranging from 15% to 30% of the remuneration of the management staff involved. The annual caps for these transactions are set at HK$28,000,000 for 2026, HK$30,800,000 for 2027, and HK$33,880,000 for 2028. These caps were determined based on historical service fees, the group's operational scale, anticipated growth, and expected increases in staff remuneration.

Historical fees paid by the group to AGL for these services were HK$14,589,000 in 2023, HK$12,961,000 in 2024, and HK$11,185,000 for the first nine months of 2025. This renewal is considered a continuing connected transaction under Listing Rules, requiring reporting, announcement, and annual review, but is exempt from independent shareholders' approval.