MTBL Global, a wholly-owned subsidiary of Ascent Bridge AWG , and E-Station Green Technology Group (ESGT) have entered into a general partnership to promote the Chinese baijiu liquor brand Moutai Bulao.
Under the agreement, ESGT will make use of its resources and network to promote the Moutai Bulao brand, and subject to MTBL Global's written consent and authorisation, has the right to carry out related marketing and promotional activities.
Headquartered in Singapore, ESGT is listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited (SEHK) and operates multi-branded restaurants under a franchise model in Singapore, Indonesia and Malaysia.
ESGT intends to extend its restaurant network to Hong Kong and Mainland China.
Ascent Bridge says the partnership will allow MTBL and ESGT to leverage each other’s strengths, and capitalise on the synergies among parties to further enhance their capabilities and develop a competitive edge in the industry.
The partners are in the process of exchanging business information, including product training and market research.
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Barring unforeseen circumstances, Ascent Bridge expects the partnership to contribute positively to its revenue for the FY2025 ending March 31, 2025.
Shares in Ascent Bridge closed unchanged at 18.2 cents on April 19.
