Komarkcorp Bhd's wholly-owned subsidiary Shanghai Komark Labels & Labelling Co Ltd has been awarded a new labels supply contract worth RM5mil per annum covering China, Komarkcorp said in a statement today.
It said that the contract by Procter & Gamble Guangzhou Ltd was for a period of three years.
Meanwhile, Shell Eastern Pet- roleum (Pte) Ltd, has renewed its labels supply contract with Komarkcop Bhd covering the Asian region for three years.
The contract value is about RM10mil per year, with an additional contribution of RM2.5mil compared to the previous contract sum of about RM7.5mil annually.
In addition, Komarkcorp said the contract had also been extended to cover the rest of the Asian region compared to only five countries, namely China, Hong Kong, Thailand, Singapore and Malaysia previously.
The company said that these contracts would contribute an additional value of about RM7.5mil to the groups existing annual turnover for three years, which represented some 11.5% of the groups turnover for the financial year ended April 30, 2002.
Komarkcorp said that this would contribute positively to the group's performance for the financial year ending April 30, 2003 onwards. Bernama
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