KUALA LUMPUR (Dec 23): Esthetics International Group Bhd (KL:EIG) has renewed its distribution agreement with US-based premium skincare provider Dermalogica Inc.

Specifically, the group has extended the distributorships for its Malaysian, Singapore, Indonesian and Brunei operations for another five years, while its distributorships in Thailand and Hong Kong have been extended for another two years.

The new distributorship agreements are effective from Jan 1, 2025, according to the group in a bourse filing.

EIG has been the exclusive distributor of Dermalogica skincare products since 1989. It currently owns 59 AsterSpring professional skincare salons and retail kiosks in Malaysia, Singapore, Hong Kong and Thailand.

In March 2020, EIG used to run 94 wholly owned AsterSpring professional skincare salons.

For the six months ended Sept 30, 2024 (1HFY2025), EIG turned into a net loss of RM8.88 million, compared to a net profit of RM2.25 million in 1HFY2024, as revenue grew a marginal 1.3% to RM90.19 million from RM89.03 million a year ago.

EIG said the signing of the new distributorship agreements will not have any effect on its share capital and substantial shareholding structure.

With focused sales and marketing efforts and barring unforeseen circumstances, the agreements are expected to positively contribute to its future profits, earnings per share and net assets, it said.

Shares of EIG closed unchanged at 25.5 sen on Monday, giving it a market capitalisation of RM60.48 million. Year to date, the stock has fallen 33.8%.