Friday 29 Mar 2024
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KUALA LUMPUR (June 7): Kim Teck Cheong (Sarawak) Sdn Bhd (KTC Sarawak), an 80%-owned subsidiary of Kim Teck Cheong Consolidated Bhd, has entered into a distributorship agreement with Anakku Sdn Bhd.

KTC Sarawak is appointed the non-exclusive distributor under the agreement for the sale and distribution of Anakku's hardline accessories, which include baby feeding, grooming and teething accessories and toys; fast moving consumer goods such as wet wipes, toiletries and napkins; and softline products such as apparels and other wear accessories.

These products will bear the trademarks of Anakku, Disney, Doraemon, Minicare, Family Essential and others that will be advised to KTC Sarawak from time to time, a bourse filing from Kim Teck Cheong today read.

The agreement is for a one-year period, starting from Jan 1, 2016, and shall be automatically extended upon the expiry thereof for a further one year.

It shall continue for an indefinite period after that, subject to either party giving at least three months' written notice prior to termination.

Kim Teck Cheong said the appointment of KTC Sarawak as the distributor of Anakku will enable the company to further expand its portfolio of distribution of third party brands and products in the state of Sarawak.

As of closing, Kim Teck Cheong was unchanged at 29 sen, after 1.26 million shares changed hands, valuing it at RM148 million.

 

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