George Kent partners Honeywell in metering business

In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.

KUALA LUMPUR: George Kent International Pte Ltd (GKI), a unit of George Kent (M) Bhd, has entered into a long-term licence agreement with Honeywell to manufacture high-precision water meter measuring components for the V100 and V110 C-Class volumetric water meters.

The agreement also includes the transfer of associated machinery and tools.

The group currently imports Honeywell precision measuring components and registers which are then assembled with the brass housings manufactured by the group.

“Under this agreement, the group will manufacture the measuring components, the brass housings and assemble the parts into complete water meters. This will enable the group to control its component supply to meet increasing demand and reduce production costs,” it said in a statement yesterday.

The licence agreement also allows the group to exclusively sell the products under its GKM trademark and George Kent brand name to 26 territories, including 15 new territories in the Asian region allowing further opportunities for growth.

“The agreement is not expected to have a material effect on the group’s earnings for the current financial year ending Jan 31, 2020,” it said. — Bernama

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