This article first appeared in The Edge Financial Daily, on June 8, 2016.

KUALA LUMPUR: Kim Teck Cheong (Sarawak) Sdn Bhd (KTC Sarawak), an 80%-owned subsidiary of Kim Teck Cheong Consolidated Bhd, has entered into a distributorship agreement with Anakku Sdn Bhd.

KTC Sarawak is appointed the non-exclusive distributor under the agreement for the sale and distribution of Anakku’s hard-line accessories, which include baby feeding, grooming and teething accessories and toys; fast-moving consumer goods such as wet wipes, toiletries and napkins; and soft-line products such as apparel and other wear accessories.

These products will bear the trademarks of Anakku, Disney, Doraemon, Minicare, Family Essential and others that will be advised to KTC Sarawak from time to time, a bourse filing from Kim Teck Cheong yesterday read.

The agreement is for a one-year period, starting from Jan 1, 2016, and shall be automatically extended upon the expiry thereof for a further one year.

It shall continue for an indefinite period after that, subject to either party giving at least three-month written notice prior to the termination.

Kim Teck Cheong said the appointment of KTC Sarawak as the distributor of Anakku will enable the company to further expand its portfolio of distribution of third-party brands and products in Sarawak.

Kim Teck Cheong shares closed unchanged at 29 sen yesterday, after 1.26 million shares changed hands, valuing it at RM147.98 million.