CRH Group definition
Examples of CRH Group in a sentence
The Board is of the view that the Group will retain the flexibility and discretion in selecting CRH Group and/or other independent suppliers based on arm’s length negotiation and taking into account the commercial terms and factors of consideration.
For leasing of premises mainly used for retail or its incidental purposes between the Group (no matter as landlord or tenant) and CRH Group or its associates (no matter as landlord or tenant), the duration of the relevant lease(s) should not exceed twenty years.
The CRH Group is principally engaged in the businesses of consumer goods, power, real estate, cement, gas, medicine and finance, as well as other operations including healthcare, microelectronics, textiles, chemical products, compressors and overseas real estate.
For leasing of premises not used for retail or its incidental purposes between the Group (no matter as landlord or tenant) and CRH Group or its associates (no matter as landlord or tenant), the duration of the relevant leases should not exceed three years.
Given its wide scope of business, the CRH Group owns a significant amount of real properties including commercial and retail premises and offices in the PRC and Hong Kong.
The Framework Agreement will enable the Group to procure the Gas Products, Labor Outsourcing and IT Services provided by CRH Group to support the Group’s business, to ensure a steady source of services which are of reliable quality, and to support the development of the Group on a scale which will not place the Group’s resources at risk or affect its relationship with other independent third-party suppliers.
As members of the CRH Group and its associates own significant property investments including commercial, retail and industrial premises in the PRC and Hong Kong, the leasing transactions in which the Group is a tenant contemplated under the Leasing Framework Agreement will enable the Group to secure a supply of the suitable premises for its business.
To the best knowledge and information of the directors of the Company, the major tenant from the CRH Group and its associates leasing premises from the Group will be CR Bank Group (principally engaged in banking business in the PRC), which intends to set up automatic teller machines and banking facilities at the supermarkets or grocery stores of the Group.
Under the Procurement Framework Agreement 2017, the Group is not required to exclusively procure certain supplies, products and services from CRH Group.
The Procurement Framework Agreement 2019 will enable the Group to procure raw materials, products and supplies as well as services provided by CRH and/or its subsidiaries to support our business, to ensure a steady source of raw materials, supplies and services which are of reliable quality, and to support the development within the CRH Group on normal commercial terms and on a scale which will not place the Group’s resources at risk or affect its relationship with other independent third-party suppliers.