Hyphens Pharma inks exclusive partnership with SUTL to distribute Ocean Health® products
Singapore, 17 August 2020 – Hyphens Pharma International Limited (“凯帆药剂国际有限公司”, “Hyphens Pharma”, or the “Company”, and together with its subsidiaries, the “Group”), Singapore’s leading specialty pharmaceutical and consumer healthcare group, is pleased to announce that its subsidiary, Ocean Health Pte Ltd (“Ocean Health”), has signed a Distribution Agreement (“DA”) with SUTL Corporation (Hong Kong) Ltd (“SUTL HK”) to appoint SUTL HK as an exclusive distributor of Ocean Health® supplements.
Under the DA, SUTL HK will be granted exclusive rights to distribute Ocean Health® supplement products in the Hong Kong Special Administrative Region (“HK SAR”), Macau and Duty-Free Channels in China.
Ocean Health is a leading home-grown health supplements company in Singapore, offering a wide range of high-quality products at affordable prices, and is best known for its no. 1 Omega-3 fish oil, Multivitamins and Joint-RX.
Mr Lim See Wah, Chairman, Executive Director & Chief Executive Officer of Hyphens Pharma commented: “We are honoured to partner SUTL HK, a well-known and established corporation, to distribute Ocean Health® products. Through this partnership, we look forward to broadening and establishing a stronger brand awareness of Ocean Health® in Asia.”
In HK SAR, the sales of vitamins and dietary supplements has also grown 2.7 per cent to US$722 million last year, despite a drop of 11 per cent in overall retail sales1.
Mr Arthur Tay, Chairman and Chief Executive Officer of SUTL Global Pte Ltd also commented: “We are indeed excited about the partnership with Ocean Health for the exclusive distribution rights of healthcare products in HK SAR, Macau and Duty-Free Channels in China. This is especially timely and critical when we’re in the midst of a global pandemic where health safety is of primary concern and importance.”
There will not be a material effect on the net tangible assets or earnings per share of the Group for the financial year ending 31 December 2020.
About Hyphens Pharma International Limited
Hyphens Pharma International Limited and its subsidiaries (the “Group“) is Singapore’s leading specialty pharmaceutical and consumer healthcare group leveraging on its diverse footprint in ASEAN countries. The Group has a direct presence in Singapore, Vietnam, Malaysia, Indonesia and the Philippines, and is supplemented by a marketing and distribution network covering six additional jurisdictions, namely, Hong Kong, Myanmar, Brunei, Cambodia, Oman and Bangladesh.
Singapore is the Group’s regional headquarters, where its strategic planning, finance, regulatory affairs, research and development, legal, business development and logistics operations are based. The Group’s core business comprises the following segments: Specialty Pharma Principals, Proprietary Brands, and Medical Hypermart and Digital. Besides marketing and selling a range of specialty pharmaceutical products in selected ASEAN countries through exclusive distributorship or licensing and supply agreements with brand principals mainly from Europe and the United States, the Group also develops, markets and sells its own proprietary range of dermatological products and health supplement products. In addition, the Group operates a medical hypermart for healthcare professionals, healthcare institutions and retail pharmacies, to supply pharmaceutical products and medical supplies.
For more information, please visit https://www.hyphensgroup.com
About SUTL Global Pte Ltd (“SUTL”)
SUTL has three main business divisions namely, Consumer Goods, Retail Lifestyle and Marina. It is one of Singapore’s most established consumer goods companies distributing a broad range of products from everyday items to beauty and fragrances to alcoholic beverages, representing an extensive portfolio of household and luxury brands. Under its Retail Lifestyle arm, SUTL is the only operator and largest distributor of Nike-only stores in Singapore and Malaysia through its wholly-owned subsidiary, SUTL Sports Retailing Pte Ltd. SUTL also has a majority stake in Singapore Exchange Mainboard-listed SUTL Enterprise Limited, which is a leading integrated marina developer, operator, and consultant and owner of the ONE°15 brand.
For more information, please visit https://www.sutl.com
About SUTL Corporation (Hong Kong) Ltd
SUTL HK is a subsidiary of SUTL and was incorporated in Hong Kong in 2005. The company has been supplying Fragrance & Cosmetic products from COTY Group, LVMH and L’Oréal Group to duty free shops in China. SUTL HK has since added CELSIUS® Fitness Drink and OWL coffee to the distribution portfolio.
Issued on behalf of the Company by Cogent Communications Pte. Ltd.
This press release has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the Rules of Catalist. The Sponsor has not independently verified the contents of this press release.
This press release has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this press release including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Mr Kelvin Wong, Senior Vice President, who can be contacted at 12 Marina Boulevard, Level 46, Marina Bay Financial Centre Tower 3, Singapore 018982, Telephone: +65 6878 8888.