Annual Report 2023

42 2023 Annual Report Transport International Holdings Limited BUSINESS REVIEW LCK Commercial Properties Limited (“LCKCP”) LCKCP, a wholly-owned subsidiary of TIH, is the owner of Manhattan Mid-town, the commercial complex of Manhattan Hill. LCKCP owns Manhattan Mid-town shopping mall, the two- level high-end retail podium at Manhattan Hill. The 50,000 square feet shopping mall provides Manhattan Hill residents and other shoppers with high quality retail facilities. At the end of 2023, the entire lettable area of the shopping mall was leased out, generating a stream of recurring rental income for the Group. TM Properties Investment Limited (“TMPI”) TMPI is jointly owned by TM Properties Holdings Limited (“TMPH”), an indirect wholly-owned subsidiary of TIH, and Mega Odyssey Limited (“MOL”), an indirect wholly-owned subsidiary of SHKP subsequent to TMPH’s disposal of 50% equity interest in TMPI to MOL in 2020. TMPI, the owner of the property at Tuen Mun Town Lot No. 80 in the New Territories, has become a 50%-owned joint venture of TIH. TMPI owns an industrial property which is currently designated for industrial use, godown purposes, or both. On 23 June 2023, TMPI obtained approvals from the Town Planning Board for a change of use from industrial to office, shop and services. At the end of 2023, the entire lettable area of the property was leased to generate rental income for the Group. The Millennity has adopted a Building Information Modeling and a high-precision 3D geometric model system to digitalise property information The Millennity, comprising two 20-storey Grade-A office towers and a 10-storey podium with a large shopping mall, is a long- term property investment project of the Group