KUALA LUMPUR (March 9): Petronas Dagangan Bhd has appointed Kim Teck Cheong Consolidated Bhd (KTC) as master distributor to widen the distribution of twelve-selected product categories across the Mesra and Mini Mesra Stores in Sabah and Sarawak.
KTC told Bursa Malaysia today it has accepted the three-year appointment, which starts from March 1. According to KTC today, the company will help Petronas Dagangan widen the distribution of products including snacks and drinks besides audio visual, health and household items.
“The appointment is for a period of three (3) years from March 1, 2020 to Feb 28, 2023 and may be continued after the expiry, subject to a review by Petronas Dagangan’s management and conditional upon KTC meeting and complying with the terms and conditions as set out by Petronas Dagangan.
“The appointment will enable the company to further expand its portfolio of distribution and enhance the procurement capabilities of third-party brands and products by strengthening the convenient store channel across Sabah and Sarawak,” KTC said.
At Bursa today, KTC’s share price declined two sen or 10.53% to 17 sen at 3:08pm for a market capitalisation of RM86.75 million. KTC saw 1.79 million shares traded.
Source: The Edge Markets