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NewsOldtown to expand to Australia via licensing pact
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Oldtown to expand to Australia via licensing pact
by Cals Tue 20 May 2014, 00:09
| Oldtown to expand to Australia via licensing pact |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Monday, 19 May 2014 17:51 KUALA LUMPUR (May 19): Oldtown Bhd announced today it is expanding into the Australian market. The company said that its unit, Kopitiam Asia Pacific Sdn Bhd, has executed a master license agreement (MLA) with OTK (Australia) Sdn Bhd and Mr. Leong Kwan Yew. The company said the rationale for the agreement was to expand into the Australian market. “Oldtown wishes to expand into the Australia market as part of its plan to venture into other territories. The licensor has built up a substantial reputation and goodwill in the business…, the granting of license to the Master Licensee will enable the setting up of a network of outlets in the territory,” said the company in the announcement. The duration of the MLA is five years and maybe renewed for another five years subject to conditions. |
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