NI Hsin’s unit sole distributor for Grayns’ rice cooker

KUALA LUMPUR: Ni Hsin Resources Bhd’s unit, Inoco Resources Sdn Bhd, has signed a five-year exclusive distributorship agreement with Grayns Malaysia Sdn Bhd to be the sole distributor for its starch reducing rice cooker.

Inoco’s managing dsirector, Khoo Chee Keong, said the company expected the rice cooker, the first of its kind in the world, to hit the local market on Feb 18 this year.

“We targeted to sel l 2,000 units in the local and Singapore markets at a retail price of RM2,238 per unit this year.

“The company is optimistic of the demand for the rice cooker due to the increasing health awareness in Malaysia and regional markets,” he told reporters at the EDA signing ceremony yesterday.

Khoo said the product could also be used to help consumers lose weight in a healthy way plus prevent ing and stabilising diabetes.

“We expect to penetrate China by 2018 under Ni Hsin house brand ‘ Pentoli’ and have been in serious negotiations with distributors there.

“They are really keen on this product,” he said.

Meanwhi le, Ni Hsin’s managing director, Chen Shien Yee, said the group better earnings this year compared with last year with the launch of new products, clients and market penetration, especial ly in China.

“Ni Hsin is basically an original equipment and design manufacturer for multi- ply stainless steel cookware, convex mirror and multi- ply clad metal.

“It is t he largest manufacturer for convex mirror products and has about 30 per cent market share in both Japan and South Korea and is the largest supplier for European countries,” he said.

Chen said the company has started its own brand ‘ Pentoli’ in December 2015 for stainless steel cookware in partnership with MyAngkasa Holdings Sdn Bhd.

He said 90 per cent of the company’s revenue came from export markets with Japan contributing 33 per cent.

“With the strong US dollar, we want to increase our export contribution to 95 per cent this year.

“Besides Japan, South Korea and Europe, we are also exporting to Taiwan, Hong Kong, Singapore, Thailand, Indonesia, Australia and New Zealand and we expect to penetrate China in the second quarter of this year,” he said. — Bernama