As advised and confirmed by Sun Hung Kai & Co. (HKG:0086) (SHK), on 9 May 2012, United Asia Finance Limited (UA Finance), a 58.18%-owned subsidiary of SHK, entered into a director's service agreement with Akihiro Nagahara for a term of 10 years (subject to early termination provisions as set out therein), announced Allied Group (HKG:0373), Allied Properties (HKG:0056) and SHK jointly.

Pursuant to the agreement, UA Finance shall engage Nagahara to formulate, supervise and implement a project of developing PRC business for the UA Finance group and to complete a restructuring.

Nagahara is a director and the CEO of UA Finance and indirectly holds 9.46% equity interest in UA Finance through Icapital City Limited, is wholly owned by Nagahara.

SHK is a subsidiary of each of Allied Group and Allied Properties.

Source:chinesestock.org