Ipmuda inks MoU to distribute Methven products in Malaysia

PETALING JAYA: Ipmuda Bhd's wholly-owned subsidiary, Ipmuda Tiles & Sanitarywares Sdn Bhd (ITS) has entered into a memorandum of understanding (MoU) with New Zealand-based sanitary ware enterprise Methven Ltd, which will see the former potentially becoming the master dealer to the latter’s products in Malaysia.

In a filing with Bursa Malaysia, Ipmuda’s board said that the MOU signed on July 21 entails a mutually beneficial policy for market development on both ends,to increase the market share of products belonging to the Methven brand in Malaysia, as well as to keep track on market demands to improve Methven's sanitary techniques.

“Methven authorises ITS to be the master dealer in Malaysia and designates its subsidiary, Heshan Methven Bathroom Fittings Co Ltd for daily operations. The term of this co-operation is from July 1, 2017 to Dec 31, 2019,” the building material distributor's board said.

Ipmuda’s shares remained at 77 sen on Friday with 5,000 shares changing hands.