Kim Teck Cheong enters into two licence agreements

KIM Teck Cheong Consolidated Bhd (KTC) entered into a 10-year licence agreement today (Jan 22) with Gardenia International Ltd (GIL), the registered proprietor of the trademarks comprising trade name, logos and registered design for Gardenia in Indonesia.

On the same day, KTC’s wholly-owned subsidiary Gardenia Bakeries (East Malaysia) Sdn Bhd entered into a 10-year licence agreement with Tong Hing Holdings Sdn Bhd.

The two agreements grant Gardenia Bakeries the exclusive right and licence to use the trademark to operate the business of manufacturing bread, cakes and ice-cream, transportation, supply and distribution of bread, cakes and ice cream in Indonesia, Sabah and Sarawak.

Gardenia Bakeries was formerly known as Kim Teck Cheong (Tawau) Sdn Bhd.

At 4:15pm, KTC was traded at 15 sen, giving it a market capitalisation of RM76.62 mil. – Jan 22, 2020

Source: FOCUS MALAYSIA

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