Friday 29 Mar 2024
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KUALA LUMPUR (April 27): Eduspec Holdings Bhd has secured the exclusive rights to distribute educational and robotic products and toys from Luxembourg’s Innovation First Trading SARL (IFTSARL), in a few Asian countries.

Eduspec told Bursa Malaysia that its wholly-owned subsidiary, Centillion Robotics Ltd, had on April 26 signed a distribution agreement with IFTSARL, appointing Centillion Robotics as IFTSARL's exclusive distributor in Singapore, Malaysia, Thailand, Vietnam, Philippines, Indonesia and Korea.

The agreement also effected the appointment of Centillion as a non-exclusive distributor of the same in Australia and Japan.

IFTSARL is principally engaged in the  business of educational and competitive robotics products, besides being a growing developer of consumer robotics toys.

The difference between the purchase price paid by Centillion Robotics to IFTSARL and Centillion Robotics selling price to its end-users, will be Centillion Robotics’s sole remuneration under this agreement for the products sale, said Eduspec.

“The agreement will contribute positively to the future earnings of Eduspec,” it said.  

Eduspec was closed unchanged at 28 sen today, for a market capitalisation of RM236.89 million.

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