Hong Kong-focused Forex broker CLSA Premium Ltd (HKG:6877), formerly known as KVB Kunlun, and Beijing Tong Ren Tang (Cayman) Limited (TRT International) have entered into a strategic cooperation agreement for the development of healthcare business (including Chinese medicine).

The partnership will include, among other things:

• Technical assistance – TRT International to provide assistance to the Company in healthcare product specialty, procurement channel, product development and Chinese medicine application.
• Training – TRT International to provide training to the Company on the healthcare business and Chinese medicine.
• Secondment – TRT International to second staff with healthcare experience to the Company.
• Network-building – the Company and TRT International shall provide introduction of their own network and personnel in the healthcare business (including Chinese medicine) reciprocally in order to enhance, among others, network building.
• Further Collaboration – the Company and TRT International may respectively consider a possible or reciprocal funding or support to each other, subject to the development of healthcare business collaboration and market condition.
• License in selling Chinese medicines – given the Group has the wholesaler license in proprietary Chinese medicines, it should provide reasonable assistance and channel to TRT International to distribute Chinese medicines in the Greater China region.

CLSA Premium commented:

“The Board believes that by entering into the Strategic Cooperation Agreement would enable the Group to leverage on the expertise of TRT International group for expanding the modular management and expansion of healthcare products businesses (including Chinese medicine) and would play a positive role in diversifying the revenue stream of the Group”.