Last Mile Enterprises Partners with One Futureworld for Product Distribution

On August 7, 2024, Last Mile Enterprises Limited announced through a stock exchange filing that its material subsidiary, M/s. Damson Technologies Private Limited, has entered into a Memorandum of Understanding (MoU) with One Futureworld (Singapore) Pte Ltd. This partnership is aimed at fostering collaboration and expanding business operations in designated territories. One Futureworld is a part of the Thakral Group Singapore, a well-established conglomerate with a presence in multiple countries, known for its diverse business portfolio.

The MoU outlines the nature of the collaboration, focusing on the distribution of Damson Technologies’ lifestyle products, including mobile accessories, Internet of Things (IoT) products, and smart wearables. These products will be marketed under the brand name Just Corseca. This strategic partnership leverages the extensive network and expertise of One Futureworld in the consumer electronics market, potentially enhancing the reach and visibility of Just Corseca products across key international markets.

The agreement is projected to generate significant revenue for Damson Technologies, with an expected order size ranging from US$ 15 to 20 million per year. This collaboration represents a substantial opportunity for growth and expansion, tapping into the increasing global demand for smart lifestyle products.

The MoU is designed to be flexible. Either party can terminate the agreement by providing at least three months’ written notice before the intended termination date. This clause ensures that both parties can reassess and realign their business strategies as needed.

About Last Mile Enterprises Limited

Last Mile Enterprises Limited, formerly known as Trans Financial Resources Limited, is primarily engaged in the business of infrastructure projects and the development of real estate projects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.