OTHERS KHEE SAN BERHAD ("KSB" OR "COMPANY") - SOLE-DISTRIBUTION AGREEMENTS
KHEE SAN BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | KHEE SAN BERHAD ("KSB" OR "COMPANY") - SOLE-DISTRIBUTION AGREEMENTS |
1. INTRODUCTION The Board of Khee San Berhad wishes to announce that Khee San Marketing Sdn Bhd (“KSM”), a wholly owned subsidiary of the Company had entered into a Sole-Distribution Agreement (“Agreement”) with the following Manufacturers as the Sole-Distributor with an exclusive right to resell and distribute the Manufacturers’ selected Products for a period of two (2) years from 15 March 2022 until 14 March 2024: (i) Jardin Pharma Berhad (Company No. 1418172-K); and (ii) Long Sheng Da Foodstuff Sdn Bhd (Company No. 1312124-X).
2. RATIONALE This Agreement allows the Group to derive alternative revenue sources and earn the relevant profit margins from such activities.
3. RISK FACTORS The Company does not expect any material risk arising from the appointment of KSM as Sole-Distributor other than the normal operational risk associated with the Agreement, which the Company would take appropriate measures to mitigate it.
4. FINANCIAL EFFECTS The Agreement will not have material effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 30 June 2022. Barring any unforeseen circumstances, the Agreement is expected to contribute positively to the future earnings of the Group.
5. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM None of the directors, major shareholders and/or persons connected to them has any interest, whether direct or indirect, in the Agreement.
6. STATEMENT BY THE BOARD OF DIRECTORS Having considered all aspects of the Agreement, the Board is of the opinion that the Agreement is in the best interest of the Company.
7. DOCUMENT AVAILABLE FOR INSPECTION The Agreement is available for inspection at the Company’s registered office at 5-9A, The Boulevard Offices, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur during normal business hours from Monday to Friday (except public holiday) for a period of three (3) months from the date of this announcement.
This announcement is dated 4 April 2022. |
Announcement Info
Company Name | KHEE SAN BERHAD |
Stock Name | KHEESAN |
Date Announced | 04 Apr 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-04042022-00077 |