KPL acquires two health product retailers in Singapore 11-15-2019

On 30 October, Xiamen Kingdomway Group Co., Ltd. (Kingdomway) announced that its wholly-owned subsidiary, KINGDOMWAY PTE. LTD. (KPL) in Singapore, had acquired 95% stake in each of VITAKIDS PTE. LTD. (VK) and PINK OF HEALTH PTE. LTD. (PH), both of which are large health product retailers in Singapore. VK sells more than 50 brands of health products and health foods, nearly 90% of which are imported from the United States, Canada, Europe, Australia and New Zealand. Also, VK has more than 20,000 member customers. As for the significance of the acquisition, Kingdomway said that the company intends to use the move in Singapore to gain a foothold in the Southeast Asian market. It will facilitate the economic and trade cooperation between the countries along the “One Belt and One Road” and enable nutrition products and dietary fiber supplements of the company to enter the Southeast Asian market quickly. This will help to create new opportunities for sustained and rapid development.

Kingdomway receives fourth consideration payment in deal with VITAKIDS and PINK OF HEALTH

Kingdomway has already completed the equity delivery for the fourth time through KINGDOMWAY PTE. LTD. (KPL), located in Singapore. According to the share transfer agreement, based on the average net profit after tax of 2016, 2017 and 2018, Kingdomway will not pay both VK and PH a fourth consideration payment; rather VK and PH should pay Kingdomway SGD 800 million.

According to the principles of justice and honesty, KPL signed a Supplemental Agreement with Mr. Neng-Hui Shih on August 9 2019, agreeing that both VK and PH should refund SGD 740 million and SGD 60 thousand to KPL and Mr. Neng-Hui Shih. KPL has already received the refund. Both VK and PH have finished the procedure of equity transfer in Accounting and Corporate Regulatory Authority. After the completion of the fourth round of equity delivery, Kingdomway now is holding 95% stake of VK and PH.

Kingdomway acquired a patent for cardio-cerebrovascular medicine in 2008

In 2008, Kingdomway received a patent certificate from the China National Intellectual Property Administration for the invention of a compound aimed at preventing cardio-cerebrovascular disease.

Kingdomway revealed that their invention was a medical compound capable of preventing and treating cardio-cerebrovascular diseases, as well as a method of producing and using this compound.  medicine compound was found in this invention and the preparation method and function would also be listed. The medicine compound contains docosahexaenoic acid, coenzyme Q10, alpha lipoic acid and more than two types of Phospholipids. The medicinal compound, when taken as a dietary supplement or medicine, will be beneficial for the prevention of disease in the blood vessels of the heart and brain.

Kingdomway global exporter of wide assortment of nutritional supplements

Kingdomway was founded on November 24, 1997 with headquarter located in the city of Xiamen, in the Fujian province. Kingdomway mainly produces and sells food nutritional enhancers and animal feed additives. The company is one of the largest producers of coenzyme Q10 in the world and is also one of the biggest three producers of Vitamin D3 in the world. Kingdomway was listed in the Shenzhen Stock Exchange on October 28, 2011.

Apart from coenzyme Q10, other main products of Kingdomway include vitamin A, vitamin D3, VA/D3, Docosahexaenoic Acid as well as arachidonic acid, which are widely used in the food industry, animal feed industry, health products, medicine and cosmetics. Products of Kingdomway are also exported to Europe, the USA, Southeast Asia, Africa, and South America. The main customers of Kingdomway include Pacific Rainbow, LOHMANN.ANIMAL HEALTH, KENKO, PROVIMI B.V., JSC Kauno Grudai, AIDP, Indukern Chemie, Acerchem and Levochem Technologies.

For more information on China’s Pharmaceutical market, please check our Amino Acids China E-News and Vitamins China E-News.

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