Ni Hsin to focus on developing in-house brand name

KUALA LUMPUR: Premium cookware maker Ni Hsin Resources Bhd has terminated its trademark licence agreement (TLA) with US-based Standardworld Holding Ltd, which holds the right to the Buffalo brand.

The move would allow it to realign its direction to the original design manufacturer (ODM) and original equipment manufacturer (OEM) markets.

Ni Hsin, which also manufactures convex mirrors and clad metals, told Bursa Malaysia that the company would, however, continue to be the manufacturer for all ODM and OEM customers including the Buffalo brand of premium cookware.

“The termination will enable the Ni Hsin group to focus on developing an in-house brand name and develop specific marketing and brand development strategies for both local and overseas markets,” it said.

Previously, Standardworld gave Ni Hsin the exclusive right to use the Buffalo brand in exchange for a royalty fee as a percentage of revenue made.

According to its 2014 annual report, the Buffalo brand accounts for 67% of its cookware sales of RM21.61mil for the financial year ended Dec 31, 2014.

However, sales from the brand had fallen 40% from the preceding year.

Ni Hsin said in the statement that the termination would not have any effect on the issued and paid-up capital, substantial shareholding, earnings per share, net assets per share and gearing of the group for the financial year ending Dec 31, 2016.

Ni Hsin shares closed unchanged at 30 sen yesterday.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , ni hsin , brand name , stocks , shares ,


Next In Business News

Cathay Pacific raises US$870mil in convertible bonds to shore up liquidity, shares fall
Retail darlings dented after Reddit group briefly shuts doors
Asia stocks follow Wall St tumble on valuation worries
Apple sees revenue growth accelerating after setting record for iPhone sales, China strength
ANALYSIS-Chinese retail banks gain consumer lending clout as fintechs fall out of favour
EXPLAINER-How retail traders squeezed Wall Street for bets against GameStop
Oil prices end mixed, despite big U.S. crude stock drawdown
Fed still in crisis-fighting mode as recovery appears to moderate
GLOBAL MARKETS-Stocks tumble on recovery fears, US$ climbs
Ringgit set to shine this year

Stories You'll Enjoy