Theme Intl to outsource administrative services to shareholder High Fashion

Theme International Holdings Ltd (0990) said it has reached an agreement with its shareholder, High Fashion Garments Management Ltd for a 3 year administrative services deal. In a statement, the company said High Fashion will provide computer systems and data processing services, financial and management accounting services, human resources support services, office administration services and company secretarial services at either 6 mln hkd per annum or 2.0 pct of its annual turnover, whichever is lower. It has also entered into a deal for warehousing and distribution services at either 3 mln hkd per annum or 1.0 pct of its annual turnover, whichever is lower. The company said the move will enable it to redeploy staff previously involved in providing such administrative services to other divisions.

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