KUALA LUMPUR (March 18): Tien Wah Press Holdings Bhd says its 51%-owned Max Ease International Ltd (MEIL) has secured a five-year extension to supply printed cartons to British American Tobacco Group.

In announcing this in a stock exchange filing today, Tien Wah said MEIL — which is 49% held by Tien Wah's utimate holding company New Toyo International Holdings Ltd, and BAT had on Tuesday (March 17) agreed to extend the agreement for the supply of the printed cartons in Malaysia, Singapore and Vietnam for the domestic/and or export markets.

The five-year extension covers the period from Jan 1, 2020 to Dec 31, 2024, and is subject to an execution of a formal contract that is expected to take place in the second quarter of this year, Tien Wah said.

Tien Wah shares closed 4.5 sen or 5.3% lower at 80 sen today, valuing the printing company at RM115.8 million. It saw 99,000 shares done.