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Local electronic giant Walton Hi-Tech Industries has appointed a partner organisation in Singapore to increase its market access.
Walton seems to have considered taking advantage of the market accessibility of the new partner, Flair M&E Pte Ltd in Singapore as it said the organisation will take the responsibility of selling, distributing and marketing Walton products within Singapore for the next five years.
In a stock exchange filing on Tuesday, Walton said it had signed a "Global Distributorship Agreement with Flair M&E Pte Ltd".
Flair M&E Pte is a private company with limited liability, incorporated under the relevant laws of Singapore. According to the agreement, Walton appointed Flair M&E Pte as its authorised distributor.
Flair M&E Pte was established and incorporated in Singapore in 2022. The company is equipped with the knowledge and capabilities required for design, installation, servicing, and maintenance of a wide range of air-conditioning systems and equipment, according to the company website. An extensive range of customers from healthcare, commercial, and industrial sectors is served by the company, it said.
Meanwhile, the stock of Walton fell 0.47 per cent to Tk 407.00 per share on Tuesday on the Dhaka Stock Exchange.
In FY24, Walton earned 0.7 per cent of its revenue, amounting to Tk 0.51 billion, from exports.
In the first nine months of FY25, it earned 0.99 per cent of its revenue, equivalent to Tk 0.20 billion, from exports.
Walton exports its products to over 40 countries across Asia, Europe, the Middle East, Africa, and the Americas.
The company has made significant inroads into the European market, exporting televisions to around 14 countries, including Germany, Denmark, Ireland, Poland, Greece, Spain, Croatia, Italy, and Romania.
Walton's global expansion strategy is part of its vision to become one of the top global electronics brands by 2030.
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