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Australian venture to boost Oldtown’s earnings in the medium term, says RHB Research

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Australian venture to boost Oldtown’s earnings in the medium term, says RHB Research Empty Australian venture to boost Oldtown’s earnings in the medium term, says RHB Research

Post by Cals Tue 20 May 2014, 09:22

Australian venture to boost Oldtown’s earnings in the medium term, says RHB Research
Business & Markets 2014
Written by theedgemalaysia.com   
Tuesday, 20 May 2014 07:51..

KUALA LUMPUR (May 20): RHB Research has rated Oldtown Bhd a Buy with a fair value of RM 2.32 and said it was positive on Oldtown’s foray into Australia and said the company would be able to expand into the Australia market as part of its plan to venture into other territories.
In a note Tuesday, the research house said this would likely boost Oldtown’s earnings in the medium term.
Oldtown on Monday announced that Kopitiam Asia Pacific SB, a wholly-owned subsidiary of Oldtown, had executed a Master License Agreement (MLA) with OTK (Australia) SB and Leong Kwan Yew.
“The Master Licensee will have an exclusive right to operate direct license and  grant sub-licenses to licensees in within Australia only, and a non-exclusive right to use the trade name and trade mark in Australia.
“The duration of the MLA is five years and may be renewed for another five years subject to the fulfilment of the conditions in the agreement,” said the research house.
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