JAT subsidiary Sunnya appoints HealthOne as exclusive distributor in Australia, Vietnam, Indonesia and Singapore.
JAT subsidiary Sunnya Pty Limited has appointed Health One Pty Limited as its exclusive distributor for its products in Australia, Vietnam, Indonesia and Singapore.
The products to be distributed under the agreement include Neurio Formulated milk powder with lactoferrin, Neurio Formulated goat milk powder with lactoferrin, Neurio Formulated middle-aged nutritional powder with lactoferrin, Neurio Algae DHA (Kids) Gel Candy, Neurio Mushroom Powder Gel Candy, Neurio Seaweed Calcium Gel Candy.
Minimum order quantity
The agreement provides for a minimum order quantity to be agreed within three months from the commencement of the agreement. Sunnya has the right to terminate the agreement in the event that the minimum order quantities are not met for three consecutive months.
JAT Managing Director Wilton Yao stated: “Based on the minimum order quantity which we expect to be sold through Health One, the increase in Sunnya’s net profit should be around $1.5 million per year as a result of the Health One deal.”
About Health One
Health One works with a range of healthcare suppliers in Australia and overseas in retail, GP and specialist channels to position their products within retailers, especially pharmacies.
The material terms of the agreement are as follows:
1. Health One is appointed as the exclusive distributor in Australia, Vietnam, Indonesia and Singapore for the specified Sunnya products.
2. The term of the agreement is two years which automatically renews for a further two-year term unless terminated by the parties beforehand.
3. The agreement has the normal commercial terms for an agreement of this type, including the payment by Health One for all products within 14 days of delivery.
4. The agreement can be terminated for any breach or non-performance of obligations which are not remedied within 30 days of notice being given.
5. There are no conditions precedent.