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Future Bright (00703) unit buys Yeng Kee trademarks
14 Sep 2018
(Infocast News) Future Bright Holdings (00703) announced that its 70-owned subsidiary, Bright Elite Gourmet, entered into an agreement on 14 September 2018 for the purchase of trademarks from Future Bright Holdings' connected persons Zhongshan Yeng Kee (中山市英記食品有限公司) and Ms. Lam Iok Han at a consideration of HK$11.12 million in cash.

The trademarks include four trademarks of Yeng Kee bakery in Mainland China and one trademark of Yeng Kee bakery in Malaysia held by Zhongshan Yeng Kee and six trademarks of Yeng Kee bakery in other countries held by Ms. Lam.

Future Bright Holdings will finance the consideration from internal resources.

Future Bright Holdings said that: "Due to similarity conflict to the Trademarks, the Group was not able to register its own Macau registered trademarks in those countries in which the Trademarks are registered. On completion of the Acquisition, the Group would be able to use the Trademarks and proceed with registration of its own Macau registered trademarks in these countries. The Board considers that with the acquisition of the Trademarks, the Group will have a greater flexibility and wider networks to distribute the products of Yeng Kee bakery to different markets."

(WL)
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