Singapore Times Business Bulletin
Bobby Fong Jr. Enterprises PLC (“BFE”) announced today the conclusion of a $32,000,000 SGD flat fee and revenue sharing transaction with Singapore Commercial Images LLC (“SCI”).
Pursuant to the terms of the transaction the Cuddlecake Brand shall be licensed by BFE to SCI for utilization in Singapore, Malaysia, Indonesia, Vietnam and Cambodia for a five-year period. In addition to the one time 32,000,000 SGD flat fee all net revenue from all goods and services bearing the Cuddlecake name and imagery sold or distributed in these countries shall be divided equally between SCI and BFE.
All revenue earned by BFE from this transaction shall be donated by BFE to West Highland Terrier rescue societies throughout the world as selected by the Chief Executive Officer of BFE, Bobby Fong Jr.
Cuddlecakes, a one-year-old Singaporean West Highland Terrier owned by Bobby Fong Jr. was the winner of the inaugural Singapore Westie of the Year contest held weeks ago in Singapore.
Bobby Fong Jr. expressed his enthusiasm for the transaction: “We are excited to have concluded this transaction with SCI to promote the dynamic market opportunities presented by the Cuddlecakes’ brand. As a result of the Singapore Westie of the Year contest Cuddlecakes has developed an enormous following in Southeast Asia which is rife for exploitation. All net revenue deriving to BFE shall be donated to West Highland Terrier rescue societies throughout the world.”
Cuddlecakes is currently onboard the Eastern & Oriental Express somewhere in the Malaysian jungle.
To celebrate the transaction some 5,000 Cuddlecake stuffed animals were distributed free of charge to fans at last night’s Southeast Asia Baseball Consortium’s baseball game held in Jakarta between the Jakarta Rice Eaters and the Singapore Chickenlittles sparking a standing ovation when the image of Cuddlecakes was displayed on the stadium’s jumbotron.
A Bird's Eye View of Fashion, Food, Travel, Culture, Beverage and Curiosity 