EIG to distribute Clinelle skin care products

Borneopost Thu, Feb 02, 2017 12:30am - 7 years View Original


KUCHING: Esthetics International Group Bhd (EIG) has signed an agreement to distribute skin care products in Australia, New Zealand and the South Pacific Islands.

The company in a filing to Bursa Malaysia on Tuesday said its wholly-owned subsidiary EIG Pharma Asia Sdn Bhd (EIGP) has signed a distribution agreement with Frostbland Pty Ltd (Frostbland).

Under the agreement, EIG said  EIGP has granted Frostbland the exclusive right to sell and distribute Clinelle skin care products in Australia, New Zealand and the South Pacific Islands for a period of five years from March 1 to February 28, 2022.

The company added the agreement also include the option to renew on mutually agreed terms for a further five years until February 28, 2027.

The agreement will enable EIG to further expand its distribution of Clinelle, EIG’s wholly-owned fast moving consumer goods (FMCG) brand of skin care products, through the FMCG channel throughtout Australia, New Zealand and the South Pacific Islands.

EIG noted the signing of the agreement will not have any effect on the share capital and substantial shareholdings structure of the group.

The company believed with focused and prudent sales and marketing efforts, the agreement is expected to positively contribute to future profits, earnings per share and net assets of EIG.

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