Kuala Lumpur, Feb 7 - Ni Hsin Resources Bhd’s subsidiary Pentoli Sdn Bhd signed an exclusive distributorship agreement with China’s Mingkeda Group Holding Co. Ltd for its stainless steel multi-ply cookware and stainless steel convex mirrors products.
The agreement takes effect in February 2017 with a total secured order of RM54 million for the first three years.
Ni Hsin Managing Director Chen Shien Yee says through Mingkeda’s vast distribution network and marketing channels, Ni Hsin’s products can enter China market in a much shorter time compared to, if it were to set up its own network from scratch.
“Driving this engagement between Ni Hsin and Mingkeda is a growing demand for quality cookware and convex mirror products by customers in China,” he announces at the signing ceremony between two parties Tuesday.
Last January, Ni Hsin and GRAYNS Malaysia signed an agreement for the distribution of GRAYNS starch reducing rice cooker in Malaysia, Singapore, Hong Kong and China.
Chen said the GRAYNS rice cooker will be marketed under Pentoli in China market, influencing huge demand whereby China is the world’s largest rice consumer in the global economy.
Ni Hsin’s plans to expand stainless steel convex mirror into the American and Russian market.