General Announcement::Distribution Agreement to Distribute VT Products

Issuer & Securities

Issuer/ Manager
MDR LIMITED - SG1N26909308 - A27
Stapled Security

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
18-Oct-2018 18:08:28
Announcement Sub Title
Distribution Agreement to Distribute VT Products
Announcement Reference
Submitted By (Co./ Ind. Name)
Madan Mohan
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board") of mDR Limited (the "Company") and together with its subsidiaries, the "Group") is pleased to announce that its wholly owned subsidiary, VT Cosmetics Pte Ltd (formerly known as MDR Investments Pte Ltd/Shenzhen Quanli Leather (S) Pte Ltd), has entered into a three (3) years distribution agreement (the "Agreement" ) with VT Cosmetic, Inc. ("VT") and Momspalm Co. Ltd. ("Momspalm") under which VT Singapore has been appointed as an official authorized distributor of VT's products in Singapore, Malaysia and Indonesia.

The above transaction is funded by internal resources and is not expected to have any material effect on the consolidated net tangible assets per share and earnings per share of the Company and the Group for the financial year ending 31 December 2018.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the Agreement, save for their respective shareholdings in the Company.

About VT and Momspalm

VT Cosmetic is an emerging Korean Beauty brand. VT has gradually expanded into various product lines which include makeup, skincare, babycare, household and oral care products.

Momspalm is a Korean company that provides procurement and distribution services to VT for overseas sales of VT's products.

A related press release has been attached with this announcement.