KUALA LUMPUR (Dec 6): K-One Technology Bhd has been appointed by American cleaning and hygiene products provider Diversey as an exclusive distributor of its healthcare and hygiene-care products in Malaysia.
In a bourse filing on Tuesday (Dec 6), K-One said its wholly-owned subsidiary K-One MediTech Sdn Bhd entered into an exclusive distribution agreement with Diversey (Malaysia) Sdn Bhd to distribute the latter's products such as disinfectants, detergents, wipes, clean patches, UV light disinfection and others in the country.
Additionally, K-One MediTech will build the Diversey brand and sell the products in Malaysia, targeting public hospitals, private hospitals, laboratories, clean rooms, health clinics, medical, rehabilitation, dentistry, medical cosmetic, pharmaceutical and healthcare or long-term care centres.
The agreement commences on Dec 6 and will continue to be in force for three years, with Diversey having the option, in its sole discretion, to renew this agreement upon expiration for another one-year term.
K-One said the exclusive distribution right will provide the opportunity for the group to further expand its healthcare and medical products business.
"With the distribution and marketing process anticipated to commence immediately and sales progressively scaling up next year and in the coming years, it is expected to contribute positively to the earnings of K-One Tech for the financial years ending Dec 31, 2023 and beyond," added K-One.
Diversey, which is owned by Diversey Holdings Ltd, is a US multinational listed on Nasdaq, which provides hygiene, infection prevention and cleaning solutions. It develops and delivers innovative, mission-critical products, services and technologies that save lives and protect the environment.
K-One's share price ended on Tuesday half a sen or 3.33% lower at 14.5 sen, bringing the group a market capitalisation of RM120.64 million.
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