KUALA LUMPUR: Gardenia Bakeries (East Malaysia) Sdn Bhd, a wholly-owned subsidiary of Kim Teck Cheong Consolidated Bhd (KTC Consolidated), has signed a Licence Agreement with Tong Hing Holdings Sdn Bhd (TTH) to use Gardenia trademark in Sabah and Sarawak.
The agreement is for an initial term of 10 years and can be renewed for a further term of 10 years.
TTH is the registered proprietorship of the trademarks comprising trade name, logos, registered design for Gardenia in Sabah and Sarawak.
In a filing with Bursa Malaysia, KTC Consolidated said the agreement would enable Gardenia Bakeries to further expand its portfolio of distribution of third party brands and products across the territory.
“The Licence Agreement grants Gardenia Bakeries to use the trademark to operate the business of manufacturing of bread, cakes and ice-cream, transportation, supply and distribution of bread, cakes and ice cream in the territory”, it said.
In a separate filing, KTC Consolidated has also entered into a Licence Agreement with Gardenia International Ltd (GIL) to operate using the Gardenia trademark in Indonesia for an initial term of 10 years.
GIL is the registered proprietorship of the trademarks comprising trade name, logos and registered design for Gardenia in Indonesia.
It said the agreement would also expand its portfolio of distribution of third party brands and products across Indonesia.
The company said both agreements would not have any significant impact on the gearing but is expected to contribute positively to the earnings and net assets per share of the group for the financial year ending June 30, 2020 and during the tenure of the agreements.
Source : Borneo Post Online