PETALING JAYA: Ni Hsin Resources Bhd has entered into an exclusive distributorship agreement with Japanese kitchen cookware manufacturer Wonder chef Co Ltd for the marketing of Wonder chef products in the Asean market.
Ni Hsin Resources’ wholly owned subsidiary Ni Hsin Corp Sdn Bhd signed the agreement today, under which it will market and sell Wonder chef products, particularly woks and pressure cookers.
“The exclusive distributorship agreement with Wonder chef marks an important milestone in the corporate history of Ni Hsin Group. It also shows the confidence by a reputable foreign company in the ability of the group in marketing and selling household cookware products.
“We will make Malaysia the first successful country to distribute Wonder chef products and eventually venture into other countries in the Asean region. The next countries for immediate market expansion will be Singapore, Thailand and Indonesia,” said Ni Hsin Corp managing director Khoo Chee Kong.
He said there is growing demand for quality cookware in the Asean region driven by improved living standards and a growing affluent group. With a population of 660 million, the Asean region will be an important market for the group to tap into besides China and India.
“Japanese brands are well-known for their quality and reliability, and the 60-year history and loyalty of consumers towards Wonder chef products says a lot about their user experience and the quality of the goods. This is particularly important in today’s age when consumers are looking at more than just the price when they are purchasing a product,” he added.
The agreement is effective immediately for a period of five years, with an option to renew at both parties’ consensus. It is expected to contribute positively to the net assets and earnings per share of Ni Hsin for its financial years ending Dec 31, 2019 and 2020.
In Japan, Wonder chef’’s products are sold in numerous departmental stores and general merchandising stores as well as via television shopping. Its main product is the pressure cooker, which is inspected based on the Japanese Quality Standard by Japanese inspectors.
Meanwhile, Ni Hsin Corp manufactures a range of premium stainless steel multi-ply cookware ranging from pressure cookers, woks, pots and saucepans for household and commercial use on an original equipment manufacturer or original design manufacturer basis.
The group also designs and manufactures stainless steel convex mirrors and stainless steel household water filtration systems.