SYDNEY and NEW YORK, April 6,
2022 /PRNewswire/ -- Integrated Media Technology Limited
(NASDAQ: IMTE) ("IMTE" or the "Company"), announces today that on
April 6, 2022 World Integrated Supply
Ecosystem Sdn Bhd ("WISE"), a subsidiary of the Company, entered
into a distribution agreement with KMF Malaysiawe ("KMF") to
sell and distribute Halal products in France initially and then to Germany and United
Kingdom. The distribution service agreement is for a period
of 3 year. KMF shall promote, market and sell the Halal products on
an indent basis for WISE. WISE will purchase the Halal
products for distribution in Europe and use the existing KMF distribution
infrastructure and network including warehousing. The parties agree
on a profit share arrangement and to develop the European
market.
Dato' Seri Dr. Hilmi Haji Yahaya, the Chairman of WISE
commented, "There is a tremendous demand for Halal products in
Europe where the market is
estimated to be about Euro 70 billion
in 2021. We are focusing on the market in France first and then expand to Germany, UK and other European
markets. We plan to source the Halal products in Asia from our supply network of Halal
producers and manufacturers." Dato' Seri Dr. Hilmi Haji Yahaya
further stated, "KMF has been selling Halal products in
France since 2013. They have
built an established distribution network locally. By working with
KMF, we can have our products tap into this distribution network in
France and other parts of
Europe. Also, as we develop our
own Halal products this KMF network will be an important channel
for us to gain access to the European markets."
Mr. Ku Yasin Ku Muhammad Farid,
founder and CEO of KMF, stated, "We look forward to grow the
business with WISE. France and the
other European countries are very attractive markets as there is a
growing demand for creditable and safe Halal food products to serve
the local Muslim community. WISE will be able to secure and source
products in Asia and distribute
through our existing sales network and infrastructure."
About Integrated Media Technology Limited ("IMTE")
IMTE is an Australian company engaged in the business of
manufacture and sale of nano coated plates for filters, the
manufacture and sale of electronic glass, Halal certification and
distribution of Halal products, the operating of an online exchange
platform for trading in digital assets and the provision of
financial research. For more information, please visit
www.imtechltd.com.
Safe Harbor Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including those
regarding IMTE's expectations, intentions, strategies, and beliefs
pertaining to future events or future financial performance. Actual
events or results may differ materially from those in the
forward-looking statements because of various important factors,
including those described in the Company's most recent filings with
the SEC. IMTE assumes no obligation to update publicly any such
forward-looking statements, whether because of new information,
future events or otherwise. For a more complete description of the
risks that could cause our actual results to differ from our
current expectations, please see the section entitled "Risk
Factors" in IMTE's annual reports on Form 20-F and interim reports
on Form 6-K filed with the SEC, as such factors may be updated from
time to time in IMTE's periodic filings with the SEC, which are
accessible on the SEC's website and at
http://www.imtechltd.com.
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SOURCE Integrated Media Technology Limited