KUALA LUMPUR: Ni Hsin Resources Bhd's wholly-owned subsidiary Ni Hsin Marketing Sdn Bhd (NHM) has signed a collaboration agreement and a distributorship agreement with WTK Manufacturing Sdn Bhd (WTKM) and WTK Technologies (M) Sdn Bhd (WTKT), respectively.
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, personal protective equipment (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.
A filing with Bursa Malaysia showed that both agreements are valid until Dec 31, 2022 and subject to extension by mutual consent in writing by all parties.
“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.
“As shortages of personal protective equipment continue to plague hospitals and healthcare facilities around the world, we see a good opportunity to go ahead and fulfil the surge in demand,” he said.