KUALA LUMPUR (June 16): LKL International Bhd’s unit Medik Gen Sdn Bhd has entered into a distributorship agreement with Meditop Corporation (Malaysia) Sdn Bhd to distribute Meditop’s products within the Peninsular Malaysia region.

Based on a filing on Friday (June 16), Medik Gen is to carry out the distribution of “TOP”-branded medical devices, and this shall be effective from June 8, 2023 to Nov 20, 2023.

The renewal of the agreement is dependant on a renewal letter issued by Meditop.

Meditop is a private limited company that is principally engaged in the business of manufacturing and selling medical and surgical instruments, products, and equipments.

The two shareholders of Meditop are Medicalent International Pte Ltd (holding a 73.3% stake) and TOP Corp (26.67%), a Japanese multinational corporation that specialises in manufacturing medical equipment with overseas sales bases in Singapore, Taiwan, and Malaysia.

“With the award of the distributorship, the group will not only broaden its product offerings to customers via the distribution of the products, but also expand its customer base in the territory," LKL said.

LKL added that “the distributorship is expected to contribute positively to the future financial performance of the group”.

In spite of that, the group said it is not expecting any material impact on its earnings per share, net assets and gearing for the financial year ending Dec 31, 2023.

Shares in LKL closed half a sen or 3.25% higher at 15 sen, valuing the group at RM58.2 million.