Maxim’s business is affected by social movement

The demonstrations in Hong Kong lasted for more than five months

The remarks made by Ms. Wu Zhede, one of the founders of Maxim’s Group, made the company a “renovation" and a loss of food. The milk company holding a 50% stake in Maxim’s Group said yesterday that Maxim’s performance has been continuously affected by social events in Hong Kong in the third quarter.

Hong Kong business offsets conversion benefits

The milk company expects that the Group will benefit from the continuous transformation plan throughout the year, but it is expected to be offset by several businesses in Hong Kong. In the health and beauty business, Wanning’s revenue and earnings are significantly affected by our social activities. In the furniture business, strong growth in Taiwan and Indonesia was also offset by the weak market sentiment in Hong Kong. The performance of Maxim Group was also in the third quarter. Affected by social events in Hong Kong. Local demonstrations and demonstrations “spreaded everywhere", but Land Holdings also said yesterday that the Group’s office portfolio vacancy rate in Central has dropped from 2.8% as of the end of June this year to 2.4% at the end of September, mainly because it has been leased earlier. The area has been settled.

The Central Office Group’s vacancy rate drop group pointed out that the retail portfolio in Central maintained full rent

and the renewal of rents also showed positive growth under the moderate growth of rents in the past few years. As for the Group’s office building renewal in Singapore, the vacancy rate continued to be positive. The vacancy rate also fell from 3.3% at the end of June to 1.3% at the end of September.

In addition, the Group also mentioned that it is still too early to gauge the potential future impact of social events in Hong Kong.


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