INTEGRATED MEDIA TECHNOLOGY LIMITED ANNOUNCES DISTRIBUTION AGREEMENT FOR HALAL PRODUCTS FOR EUROPEAN MARKETS
SYDNEY and NEW YORK, April 6, 2022 /PRNewswire/ — Integrated Media Technology Limited IMTE (“IMTE” or the “Company”), today announces that the April 6, 2022 World Integrated Supply Ecosystem Sdn Bhd (“WISE”), a subsidiary of the Company, has entered into a distribution agreement with KMF Malaysiawe (“KMF”) to sell and distribute Halal products in France first then to Germany and UK. The distribution service contract is for a period of 3 years. KMF shall promote, market and sell Halal products on a withdrawal basis for WISE. WISE will buy the Halal products to distribute them in Europe and use existing KMF distribution infrastructure and network, including warehousing. The parties agree on a profit sharing agreement and to develop the European market.
Dato’ Seri Dr. Hilmi Haji Yahaya, the President of WISE commented: “There is a huge demand for Halal products in Europe where the market is estimated at around 70 billion euros in 2021. We focus on the market in France first, then extend to Germany, UK and other European markets. We plan to source Halal products in Asia our supply network of Halal producers and manufacturers.” Dato’ Seri Dr. Hilmi Haji Yahaya added, “KMF sells Halal products in France since 2013. They have built a locally established distribution network. By working with KMF, we can ensure that our products tap into this distribution network by France and other parts of Europe. In addition, as we develop our own Halal products, this KMF network will be an important channel for us to access European markets.”
Sir. Ku Yasin Ku Muhammad Faridfounder and CEO of KMF, said, “We look forward to growing the business with WISE. France and other European countries are very attractive markets as there is a growing demand for reliable and safe Halal food products to serve the local Muslim community. WISE will be able to secure and source products Asia and distribute through our existing sales network and infrastructure. »
About Integrated Media Technology Limited (“IMTE”)
IMTE is an Australian company specializing in the manufacture and sale of nano-coated plates for filters, the manufacture and sale of electronic glass, Halal certification and the distribution of Halal products, the operation of an exchange platform in online for trading digital assets and providing financial research. For more information, please visit www.imtechltd.com.
Safe Harbor Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding the expectations, intentions, strategies and beliefs of IMTE regarding future events or future financial results. performance. Actual events or results may differ materially from those in the forward-looking statements due to a variety of important factors, including those described in the Company’s most recent filings with the SEC. IMTE undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section titled “Risk Factors” in IMTE’s Annual Reports on Form 20-F and Interim Reports. on Form 6-K filed with the SEC, as such factors may be updated from time to time in IMTE’s periodic filings with the SEC, which are accessible on the SEC’s website and at http://www.imtechltd.com.
Show original content to download multimedia:https://www.prnewswire.com/news-releases/integrated-media-technology-limited-announces-distribution-agreement-on-halal-products-for-european-markets-301519049.html
SOURCE Integrated Media Technology Limited