KUALA LUMPUR (Oct 11): Kim Teck Cheong Consolidated Bhd (KTC) said its unit has been appointed to distribute Abbot Laboratories (M) Sdn Bhd's nutrition products in Sarawak.

In a stock exchange filing today, KTC said its unit Kim Teck Cheong (Sarawak) Sdn Bhd (KTC Sarawak) had on Oct 1 accepted the appointment to handle marketing and promotion activities on behalf of Abbot, and distribute and sell its nutrition products in Sarawak, effective Nov 1.

KTC said the appointment is for a period of 26 months from Nov 1, 2019 to Dec 31, 2021, and may be continued after the expiry, subject to a review by Abbot's management.

The firm said the appointment of KTC Sarawak as Abbot's distribution partner will enable the company to further expand its portfolio of distribution of third-party brands and products across Sarawak.

KTC said the appointment is expected to contribute positively to its earnings for the financial year ending June 30, 2020.

At the midday break, KTC shares were 3.57% or 0.5 sen higher at 14.5 sen for a market capitalisation of RM73.99 million.