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Wah Seong rises 3.17% on distributorship agreement

July 6, 2018 4:09 AM
19 0

PETALING JAYA: Wah Seong Corp Bhd's share price rose as much as 3.17% to RM1.30 in early trade on news of it being appointed an exclusive dealer of Ammann BauAusrustung AG products within Peninsular Malaysia.

At 11.36am, the stock was trading at RM1.26 with some 289,300 shares done.

Its indirect subsidiary WDG Resources Sdn Bhd has been appointed an exclusive dealer of Ammann BauAusrustung AG products within Peninsular Malaysia.

In a filing with Bursa Malaysia yesterday, Wah Seong said the distributorship agreement is for the sales and services as well as promotion of Ammann’s products namely pavers, heavy compaction and light compaction.

The distributorship agreement is effective for an indefinite period unless otherwise terminated by either party, with three months written notice.

It is expected to contribute positively to the earnings of the group over the period of the distributorship agreement.

Source: thesundaily.my

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