Ni Hsin Resources Bhd’s wholly-owned subsidiary Ni Hsin Marketing Sdn Bhd (NHM) today signed a collaboration agreement and distributorship agreement with WTK Manufacturing Sdn Bhd (WTKM) and WTK Technologies (M) Sdn Bhd (WTKT) to market its fabric protective mask, personal protective equipment (PPE) and hand sanitiser domestically and internationally through the latter’s network in Asia Pacific, Africa, Europe, United States, Middle East and South Asia.
Under the collaboration agreement, WTKM will be appointed as the distributor for the marketing, supply, sale and distribution of the NHM’s fabric protective mask, PPE and hand sanitisers to the government via tenders and through close collaborations.
The distributorship agreement signed with WTKT will be for the marketing and distribution of fabric protective mask including NHM’s branded Masketeer Coolmax Fibre Protective Mask, PPE and hand sanitiser in the local and overseas markets.
Both agreements are valid until 31 December 2022 and subject to extension by mutual consent in writing by all parties, according to a filing in Bursa Malaysia today.
“The rationale of the agreement is to enable Ni Hsin to leverage on the expertise network of WTKM and WTKT in the medical industry to facilitate the expansion of our protective mask, PPE and hand sanitiser business division.
“This is a new area for us to further diversify our income stream, and it is expected to contribute to the company’s earnings for the financial year ending Dec 31, 2020,” NHM managing director Khoo Chee Kong said in a statement.
WTKM and WTKT are principally engaged in the business of design and build prefabricated operation theatre system, medical gas pipeline equipment, medical furniture, nurse call system, smart dispensary system, medical equipment, medical devices, personal protective equipment (PPE), hand sanitiser and related products.
Besides operating in Asia Pacific, the company has expanded its business to other regions such as Africa, Europe, United States, Middle East and South Asia.
NHM is in the business of general merchandiser, distribution and marketing of cookware, kitchenware, water filters, convex mirrors and related products and accessories, marketing and trading in cooking oil and all kinds of PPE including face masks, sanitisers, wet wipes, thermometers and protective clothing.
“As shortages of PPE continue to plague hospitals and healthcare facilities around the world, we see a good opportunity to go ahead and fulfil the surge in demand.
“We are also determined to contribute towards the national stockpile, and help Malaysia cope with the shortage problems as reported in the news recently,” Khoo said
He said Ni Hsin believes that wearing face masks will become a new normal healthy social habit even when the pandemic is over, adding that WTKM and WTKT have already received encouraging inquiries from companies locally and overseas for the products and are currently working towards finalising the orders soon.
“We are confident in their established network domestically and internationally, and we look forward to capitalising these business opportunities,” he said.
To recap, Ni Hsin had on 14 May signed a product manufacturing agreement with Marywah Industries (M) Sdn Bhd, a wholly-owned subsidiary of Caely Holdings Bhd.
Ni Hsin had appointed Marywah as the original equipment manufacturer (OEM) of NHM’s brand name products which mainly consists of fabric face masks (under the brand name of Masketeer – Coolmax Fibre Protective Mask) and PPE.
This agreement is valid until 31 December 2022.
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