Esthetics International Group Berhad (“EIG”) is pleased to announce the following:
1. Renewal of the exclusive Distributorship Agreement (the “GHD Malaysia Agreement”) between EIG Haircare Sdn Bhd (“EIGHC”), a wholly-owned subsidiary of EIG, and GHD Hong Kong Limited (“GHD”) for a further three (3) years with an expanded distribution scope from 1 November 2024 to 31 October 2027. 
The new GHD Malaysia Agreement enables EIGHC to distribute GHD hair styling tools across all channels in Malaysia including GHD’s existing distribution to certain retail and ecommerce channels, in addition to the current distribution rights for the hair salon channel in Malaysia. 
2. Addition to the scope of channels under the existing Distributorship Agreement (the “GHD Singapore Agreement”) between EIG Dermal Wellness (S) Pte Ltd (“EIGSG”), a wholly-owned subsidiary of EIG, and GHD. 
Under the expanded scope of Channels, EIGSG is authorized to sell and distribute GHD hair styling tools on certain existing ecommerce channels in Singapore, in addition to the current distribution rights for the hair salon channel in Singapore.  All other terms of the GHD Singapore Agreement remain unchanged.
Together, the renewed GHD Malaysia Agreement and additional scope of channels under the GHD Singapore Agreement will enable EIG to further expand its sales and distribution of GHD hair styling tools in Malaysia and Singapore.
GHD is a leading hair styling brand with premium hair styling products such as hair straighteners, dryers and curlers with over 21 years’ history and distribution in over 50,000 salons worldwide. EIG has been the distributor of GHD in the salon channel in Malaysia since November 2021 and in Singapore since May 2023.
The Directors of EIG, having considered all relevant factors, is of the view that it is in the interest of EIG for EIGHC to enter into the new GHD Malaysia Agreement and for EIGSG to agree to the expanded scope of channels for the GHD Singapore Agreement.
The signing of the GHD Malaysia Agreement and expansion of the GHD Singapore Agreement will not have any effect on the share capital and substantial shareholdings structure of EIG. With focused and prudent sales and marketing efforts and barring unforeseen circumstances, the Agreement is expected to contribute to future profits, earnings per share and net assets of EIG.
None of the Directors of the Company, substantial shareholders and/or persons connected to them has any interest, direct or indirect in the above transaction.
This announcement is dated 20 September 2024.