MESB gets exclusive licence to distribute "Crocodile" products

PETALING JAYA: Leather products retailer MESB Bhd has been granted an exclusive licence to use the "CROCODILE" trademark for the design, manufacture, advertisement, distribution, sale and promotion of the "Crocodile" Men's apparel and innerwear products.
MESB told Bursa Malaysia that its wholly owned subsidiary Miroza Leather (M) Sdn Bhd had on January 8, 2018 entered into a licence agreement with Crocodile International Sdn Bhd (CISB).
The licence is for a period of two years and 11 months commencing from February 1, 2018 to December 31, 2020.
"CISB and Miroza have agreed to renew the agreement for another two years, commencing on January 1, 2021 upon the same terms and conditions of the agreement and subject to the additional terms and conditions pursuant to CISB's letter dated January 8, 2018," said MESB.
Under the agreememt, Miroza will have to pay royalty to CISB based on the net sales or at a fixed amount, whichever is higher, as per the agreement.
At 12.30pm, MESB's share price fell 2 sen or 3.81% to 50.5 sen on some 5.07 million shares done.