DRB-HICOM Bhd, a motor and banking group, said it will now distribute China-made household electrical appliances under the Midea brand.
This comes after its agreement to distribute products from LG Electronics was terminated, the group said in a statement.
"The distribution of the Midea brand is a new business venture," DRB-HICOM said.
Its subsidiary, Scott & English Electronics, had entered into an agreement with GD Midea Air-Conditioning Equipment Co Ltd of Midea Industrial City, China, to be the exclusive distributor of air-conditioners, refrigerators, freezers, and washing machines under the Midea brand in Malaysia.
The new business would not boost earnings for the current fiscal year to March 31, 2006 but would help improve earnings, it said. (Business Times)
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