KUALA LUMPUR: Shares in Saudee Group Bhd surged almost 40% in early trade Wednesday following a distribution agreement with Top Standard Corporation (TSC) to supply frozen meats and products to the Chinese markets. The processed frozen food manufacturer jumped 39.81%, or 21.5 sen to 75.5 sen, its all-time high with 45 million shares done. Saudee-Wa surged 275%, or 11 sen to 15 sen. The deal sees TSC, a Hong Kong listed company guarantee a minimum annual value of US$400,000 or RM1.64mil order initially to attempt to penetrate the halal consumer market in China. This collaboration will enable Saudee to penetrate into one of the biggest markets in the world i.e China, Hong Kong and Macau. This will enhance the market presence of Saudee Halal products and improve the revenue of Saudee, it said.
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