SINGAPORE (Sept 29): Zhongmin Baihui Retail Group is planning to acquiring the retail premises of the shopping mall at Hui’an County in Quanzhou, Fujian province, for RMB122.2 million ($24.9 million).

Subsidiary Zhongmin Baihui (Quanzhou) Commercial Management Co. (QZM) has been operating the Hui’an department store at the premises under a lease agreement since April 1 2013.

“The Proposed Acquisition will result in QZM having full title and ownership of the Premises, hence allowing the QZM to have full control, access and right over the operations and management of the Premises, as well as all of the economic benefits of the Hui’an store,” says Zhongmin Baihui in its filing.

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