Document:

Exhibit 10.2

 

SALES AND SERVICE CONTRACT

FOR DAIRY PRODUCTS

 

( Ref. MPFI-GCL/12/09-01 )

 

		1.	Parties

 

This Contract is made this 25th day of
September 2012 between:

 

M-Power Food Industries Pte Ltd
a company having its principal place of business at

76 Playfair Road, #03-06 LHK2 Building, 367996 Singapore (the “Seller”)

 

Seller’s bank:

 

Oversea-Chinese Banking Corporation Limited

65 Chulia Street, OCBC Centre, Singapore
049513.

Swift:

Account number (SGD):

 

And

 

Golden Crowne Limited a company
having its principal place of business at #1123A.

Landmark North, 39 Lung Sum Avenue, Sheung Shui. NT, Hong Kong (the “Buyer”).

 

		2.	Background

 

WHEREAS, Seller has expertise in the production
of formulated dairy products (the “Dairy Products”) and is willing to provide technical support services and transfer
of know-how to Buyer concerning the development of its own production of such dairy products. The specifications of eighteen (18)
Dairy Products are attached to this Contract in Appendix 1.

 

WHEREAS, Seller is the sole and exclusive
owner of certain product brands and trade names (the “Brands”) and which are used with and affixed to Seller’s
Dairy Products.

 

The Brands and the Dairy Products are all
more fully identified in the Schedule A attached hereto and incorporated herein (collectively the “Products and Brands”).

 

WHEREAS, Buyer desires to obtain technical
information, support and know-how from the Seller in order to develop production of the Dairy Products for the territory of the
People’s Republic of China.

 

WHEREAS, Buyer desires to use the Brands
on the terms and conditions set forth in this Contract in connection with Buyer’s distribution of the Dairy Products, and
Seller wishes the Buyer to distribute the Dairy Products upon the terms and conditions contained in this Contract.

 

     

     

    

 

Ref. MPFI-GCL/12/09-01

 

WHEREAS, Buyer recognizes that the valuable
reputation and goodwill attaching to the Brands is dependent upon the high quality of the standards established and prescribed
by the Seller. Consequently Buyer desires to comply with Seller’s quality control standards in order to preserve the reputation
and goodwill attaching to the Products and Brands.

 

NOW THEREFORE. the parties, in consideration
of the mutual covenants and agreements to be performed as set forth in this contract, the receipt and sufficiency of which consideration
are hereby acknowledged, hereby agree as follows:

 

		3.	Scope of Supply

 

Subject to the terms and conditions set
forth in this Contract, Seller will supply the followings in relation to the Products and Brands:

 

Technical information related
to the production of the Dairy Products;

Transfer of know-how related
to the Dairy Products;

Technical support/service related
to the Dairy Products;

Exclusive rights to use the Brands
in connection with selling and advertising the Dairy Products

 

		4.	Territory

 

The exclusive geographical territory covered
by this Contract is the People’s Republic of China.

 

		5.	Assignment Prohibited

 

Buyer’s technical information and
know-how obtained from Seller and rights to use the Products and Brands under this Contract shall not be assigned, passed or sold
to any third party by the buyer without the prior written approval of the Seller, and an attempted assignment by the Buyer may,
at the sole discretion of the Seller, be sufficient cause for termination of this Contract. In addition, Seller may at its sole
discretion terminate this Contract upon a corporate merger or other consolidation by the Buyer.

 

		6.	Covenant Against Challenge

 

Buyer is hereby prohibited from challenging
or in any way the validity of the Brands, including its registration or its ownership by the Seller.

 

		7.	Covenant Not to Compete

 

Buyer agrees that during the term of this
Contract and for one (1) year after the termination of this Contract, the Buyer shall not publish, market, distribute, sell
or license or otherwise exploit competing products that are functionally similar to the Dairy Products covered hereunder, or that
are likely to interfere with or diminish sales of the Dairy Products covered hereunder.

 

		8.	Best Marketing Efforts

 

Buyer shall exert its best efforts to advertise,
promote and sell the Dairy Products under this Contract so as: to maintain and enhance the value of the goodwill residing in the
Products and Brands; to produce the maximum volume of sales consistent with the quality standards established by the Seller; and
to exploit the assigned territory in marketing the Dairy Products.

 

    	 	2	 

     

    

 

Ref.
MPFI-GCL/12/09-01

 

		9.	Technical Information, Know-how and Product and Brand Usage

 

(a)         Buyer
hereby acknowledges that the technical information and know-how provided by the Seller are the property of the Seller. Buyer hereby
agrees to treat such technical information and know-how as confidential.

 

(b)         Buyer
hereby acknowledges Seller’s right and title to the Products and Brands herein, In consideration of permitting Buyer to use
Seller’s Products and Brands, Buyer hereby agrees not to claim title to the Products and Brands and to use the Products and
Brands only as permitted by this Contract.

 

(c)         Buyer
shall prominently display the Brands on all versions of the Dairy Products in accordance with the written instructions of the Seller,
and shall use the registration symbol (r) and other registration notices correctly. Buyer shall also submit all advertising copy,
labels, stickers and packaging to the Seller 30 days prior to use for written approval by the Seller.

 

(d)         Buyer
shall not adopt or use, without Seller’s prior written consent which consent shall not he unreasonably withheld any variation
oldie Products and Brands including translations and any Brand similar to or confusing with the Products and Brands. If Seller
consents to any variation of the Products and Brands, Buyer hereby agrees that Seller shall own such new Product and Brand.

 

(e)         All
goodwill arising from Buyer’s use of the Products and Brands shall inure solely to the benefit of the Seller. Buyer shall
not take any action that could be detrimental to the goodwill associated with the Products and Brands or with Seller during the
term of this Contract or after the termination of this Contract.

 

(f)         Buyer
shall during the term of this Contract and after termination thereof, execute such documents as Seller may request from time to
time to ensure that all technical information, know-how, right, title and interest in and to the Products and Brands reside with
Seller.

 

(g)         The
terms and conditions of this clause 9 shall survive any termination of this Contract.

 

		10.	Quality Control

 

(a)         Prior
to use of the Products and Brands, Buyer shall furnish to Seller for its written approval samples of the version of the products
to be sold using the Brands together with the advertising and promotional materials accompanying the products that will be displayed
(the “Sample”), Seller’s approval of the Sample shall not be unreasonably withheld. The Sample shall be deemed
approved by Seller unless Seller notifies Buyer to the contrary within 30 days after receipt of the Sample. All versions of the
products manufactured, distributed, sold and advertised by Buyer shall conform to the Sample approved, or deemed approved, by the
Seller.

 

    	 	3	 

     

    

 

Ref. MPFI-GCL/12/09-01

 

(b)         The
Buyer shall maintain the quality standards of the Dairy Products as is requested from time to time by the Seller and shall make
any changes in quality control required by the Seller. Buyer shall permit inspection of the premises of manufacture during normal
business hours; and shall follow all written specifications relating to the finished product sold by Buyer under the Brands. Seller
may also require Buyer to attend quality control training courses.

 

(c)         Buyer
shall comply at its sole expense with all applicable federal and state laws and regulations including all laws applicable to the
promotion, sale, license or sublicense, and distribution of the products.

 

		11.	Contract Value and Payment Terms

 

In consideration of all the services and
rights supplied to Buyer hereunder as more fully specified in Item 3 Scope of Supply above, Buyer shall pay to Seller a total
amount of S$12,960,000.00 as specified in the Schedule B attached hereto and incorporated herein. The acceptance by Seller
of any tender of payment in an amount which is less than the total amount due shall not be deemed a waiver of the Seller’s
right to receive the balance together with interest as is more fully specified in the Schedule B.

 

		12.	Implementation Period

 

This Contract shall be implemented within
a period of 12 months. It may be extended upon agreement between the Seller and the Buyer.

 

		13.	Relationship of the Parties

 

The relationship of the Buyer to Seller
is that of independent contractors, and neither Buyer nor its employees or agents are employees of the Seller. This Contract does
not constitute a joint venture or grant of a franchise between Seller and Buyer.

 

		14.	Merger

 

This Contract constitutes the entire understanding
of the parties, all prior understandings having been merged herein. This Contract may only be amended only by a writing signed
by both parties to this Contract.

 

		15.	Notices

 

All notices regarding this Contract shall
be in writing and shall be deemed delivered on the earlier date; (1) if sent by e-mail, delivery or mail when actually received
and acknowledged; or (2) 5 days after mailing by certified or registered mail, return receipt requested.

 

    	 	4	 

     

    

 

Ref. MPFI-GCL/12/09-01

 

		16.	Choice of Law

 

This Contract shall be governed by British
law. Furthermore, the parties hereby agree that any action or proceeding arising out of or relating to this Contract shall be finally
settled under the Rules of Arbitration of the International Chamber of Commerce.

 

		17.	Indemnification of the Seller

 

Buyer shall defend and indemnify the Seller
and hold the Seller harmless from any and all claims, damages, and reasonable attorney’s fees and related expenses arising
from the use of the Products and Brands by the Buyer and his performance under the Contract. The provisions of this clause shall
survive the termination of this Contract for a period of two (2) years.

 

		18.	Execution

 

Each party has read this Contract in its
entirety and understands its terms and consequences. Each of the undersigned hereby represents that he or she has the authority
to enter into this Contract.

 

IN WITNESS WHEREOF the Seiler and Buyer
have executed this Contract as of the date first written above.

 

	Seller:	 	M-POWER FOOD INDUSTRIES PTE. LTD.	 
	 	 	 	 
	Authorized Signatory:	 	 	 
	 	 	 	 
	Date:	 	 	 
	 	 	 	 
	Buyer:	 	GOLDEN CROWNE LIMITED	 
	 	 	 	 
	Authorized Signatory:	 	 	 
	 	 	 	 
	Date:	 	 	 

 

    	 	5	 

     

    

 

Ref. MPFI-GCL/12/09-01

 

Schedule A – Products
and Brands

 

		·	TOP DAIRY

- Dairy Powder Chocolate 1510

- Dairy Powder Ice Cream 2615

- Dairy Powder Biscuits 2610

 

		·	C-BONLAIT

- Skimmed Milk Powder Extra Grade

- Dairy Powder 525

- Dairy Powder 1025

- Dairy Powder 1515

 

		·	LACTOSERUM

- Demineralized Whey Powder 40%

 

		·	C-MILKY

- Full Fat Milk Powder 26% Fat

- Full Fat Milk Powder Instant
28% Fat

 

		·	C-SERUM

- Sweet Whey Powder

 

		·	MILKYLAND

- Full Fat Milk Powder 26% Fat

- instant Full Fat Milk Powder
28% Fat

 

		·	OMNILAC

- Whole Milk Powder 26% Fat

- Instant Whole Milk Powder 28%
Fat

- Full Fat Milk Powder 26% Fat

- Instant Full Fat Milk Powder
28% Fat

 

		·	COUNTRY LAND

- Skimmed milk Powder

 

    	 	6	 

     

    

 

Ref. MPFI-GCL/12/09-01

 

Schedule B — Payment
Terms

 

As per Clause 11 of the Sales and Service
Contract, Buyer will pay a lump sum to Seller for a total amount of S$12,960,000.00 (Singapore dollars twelve million nine hundred
sixty thousand) covering technical support services, transfer of know-how and Products and Brand usage covering the Products and
Brands as specified in Schedule A of the Contract.

 

Seller shall issue to Buyer partial invoices
for the payment, which should be as follows, unless otherwise agreed by the Parties:

 

	1	TOP DAIRY Dairy Powder Chocolate 1510	SGD 740,000.00
	2	TOP DAIRY Dairy Powder lee Cream 2615	SGD 750,000.00
	3	TOP DAIRY Dairy Powder Biscuits 2610	SGD 720,000.00
	4	C-BONLAIT Skimmed Milk Powder Extra Grade	SGD 760,000.00
	5	C-BONLAIT Dairy Powder 525	SGD 690,000,00
	6	C-BONLAIT Dairy Powder 1025	SGD 680,000.00
	7	C-BONLAIT Dairy Powder 1515	SGD 680,000.00
	8	LACTOSERUM Demineralized Whey Powder 40%	SGD 690,000.00
	9	C-MILKY Full Fat Milk Powder 26% Fat	SGD 760,000.00
	10	C-MILKY Full Fat Milk Powder Instant 28% Fat	SGD 760,000.00
	11	C-SERUM Sweet Whey Powder	SGD 590,000.00
	12	MILKYLAND Full Fat Milk Powder 26% Fat:	SGD 710,000.00
	13	MILKYLAND Instant Full Fat Milk Powder 28% Fat	SGD 710,000.00
	14	OMNILAC Whole Milk Powder:	SGD 750,000.00
	15	OMNILAC Instant Whole Milk Powder 28% Fat:	SGD 750,000.00
	16	OMNILAC Full Fat Milk Powder 26% Fat:	SGD 750,000.00
	17	OMNILAC Instant Full Fat Milk Powder 28% Fat:	SGD 750,000.00
	18	COUNTRYLAND Skimmed Milk Powder:	SGD 720,000.00

 

Unless any change to be agreed between
Seller and Buyer, the invoice payment terms will be as follows:

 

- Thirty Percent (30%)
within 90 days from 30 September 2013.

- Thirty Percent (30%)
within 90 days from first payment.

- Forty Percent (40%)
within 90 days from second payment

 

Buyer acknowledges that time is of the
essence in the prompt submission of payments. Any late payment will bear interest at the rate of one percent (1%) per month.

 

    	 	7	 

     

    

 

Appendix 1 – Dairy Product
Specifications (18 pages)

 

		
         

        Dairy
        Powder

        Chocolate 1510

         

 

Applications

Excellent for Chocolate, Desserts, others.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	15% max.
	Moisture	4% max.
	Protein	10% min.
	Ash (minerals)	7% max.
	Carbohydrates	65% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/9
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: DP1510-TD	Date: 17.2.12

 

     

     

    

 

	 	Dairy Powder

    Ice cream 2615

 

Applications

Excellent in Bakery, Ice cream, Frozen
desserts, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% max.
	Moisture	5% max.
	Protein	15% min.
	Ash (minerals)	7% max.
	Carbohydrates	47% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

17mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: DP2615-TD	Date: 17.2.12

 

 

 

     

     

    

 

	 	Dairy
    Powder

    Biscuits 2610

 

Applications

Excellent for biscuits, cookies, and other
applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% max.
	Moisture	5% max.
	Protein	10% min.
	Ash (minerals)	8% max.
	Carbohydrates	51% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: DP2610-TD	Date: 17.2.12

 

 

     

     

    

 

	 	Skimmed
    Milk Powder

    Extra Grade

 

Applications

Ice cream, Yoghurt, Dairy Beverages, Recombined
Milk, Bakery, Chocolate, Desserts, Confectionery, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	1.25% max.
	Moisture	4% max.
	Protein (NFDM)	34% min.
	Ash (minerals)	8% max.
	Lactose	53% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

17mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: SMP34EG-CB	Date: 17.2.12

 

 

     

     

    

 

	 	Dairy
    Powder 525

 

Applications

Excellent in Bakery applications.

 

Ingredients

Milk proteins, milk fat, lipids, milk solids,
and lecithin.

 

Aspect

Light cream colour, milky taste and flavour.

 

Typical Chemical & Physical Analysis

	Fat	5% max.
	Moisture	5% max.
	Protein	25% min.
	Ash (Minerals)	7% max.
	Lactose	58% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 5,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Packing

16-17mts in 20'fcl, 25 mts in 40' fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal. the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note:
The data outlined are intended as a source of information only. It is subject to improvement or change without prior notice.

	Ref: NOV 10/ DP-525	Date: 20.11.10

 

 

     

     

    

 

		Dairy
    Powder 1025

 

Applications

White Cheese, Yoghurt, Desserts, Others.

 

Aspect

Light cream colour, typical taste and flavour.

 

Typical Chemical & Physical Analysis

	Fat	10% max.
	Moisture	5% max.
	Protein	25% min.
	Ash (Minerals)	7% max.
	Lactose	53% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 20,000/g max
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Packing

16-17mts in 20'fcl, 25 mts in 40' fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as
a source of information only. It is subject to improvement or change without prior notice.

	Ref: OCT 09 DP-1025	Date: 20.10.09

 

 

     

     

    

 

		Dairy
    Powder 1515

  

Applications

Yoghurt, Desserts, Others.

 

Ingredients

Milk protein, lipids, milk fat, milk solids,
and lecithin.

 

Aspect

Light cream colour, typical taste and flavour.

 

Typical Chemical & Physical Analysis

	Fat	15% max.
	Moisture	5% max.
	Protein	15% min.
	Ash (Minerals)	8% max.
	Lactose	57% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 20,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative
	 	 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Packing

16-17mts in 20'fcl, 25 mts in 40' fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note:
The data outlined are intended as a source of information only. It is subject to improvement or change without prior notice.

	Ref: OCT 09/rev0510 DP-1515	Date: 20.05.10

 

 

     

     

    

 

		Demineralized

    Whey Powder 40%

 

Applications

Ice cream, Bakery, Confectionery, Yoghurt,
Desserts, Chocolate, Blends, Dry mixes, and other applications.

 

Aspect

Light cream to creamy colour, natural flavour.

 

Typical Chemical & Physical Analysis

	Fat	1.5% max.
	Moisture	5% max.
	Protein	11% min.
	Ash (Minerals)	6% max.
	Lactose	70% approx.
	Scorched Particles	Disc A/B

 

Typical Microbiological Analysis

	Total Plate Count	Max. 50,000/g
	Coliforms	<10/g
	Yeasts	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

17mts in 20'fcl, 25 mts in 40' fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: D40111-LS	Date: 19.2.12

 

  

     

     

    

 

		Full
    Fat Milk Powder

    26% Fat

 

Applications

Dairy Beverages, Ice cream, Recombined
Milk, Bakery, Chocolate, Desserts, Confectionery, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% max.
	Moisture	5% max.
	Protein (on dry matter)	15% min.
	Ash (minerals)	7% max.
	Lactose	49% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FUFMP2615R-CM	Date: 17.2.12

 

 

     

     

    

 

		Full
    Fat Milk Powder

    28% Fat

 

Applications

Dairy Beverages, Ice cream, Recombined
Milk, Bakery, Chocolate, Desserts, Confectionery, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% max.
	Moisture	5% max.
	Protein (on dry matter)	15% min.
	Ash (minerals)	7% max.
	Lactose	47% approx.
	Lecithin	0.2%
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative
	 	 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FuFMP2615I-CM	Date: 17.2.12

 

 

     

     

    

 

		Sweet
    Whey Powder

 

Applications

Partial replacer to skimmed milk powder
in applications such as Ice cream, Bakery, Confectionery, Ready to cook dishes, Chocolate, Dairy based products, and other applications.

 

Aspect

Light cream colour, typical taste and flavour.

 

Typical Chemical & Physical Analysis

	Fat	1.5% max.
	Moisture	5% max.
	Protein	11% min.
	Ash (Minerals)	8% max.
	Lactose	74% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max, 20,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

17mts in 20’fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: SWP111-CS	Date: 17.2.12

 

 

     

     

    

 

		Full
    Fat Milk Powder

 26% Fat
	 	 

 

Applications

Ice cream, Dairy based Beverages, Chocolate,
Processed cheese & spreads, Ready to cook dishes, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% min.
	Moisture	4% max.
	Protein	24% min.
	Ash (Minerals)	7% max.
	Lactose	39% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FFMP2624R-ML	Date: 17.2.12

 

 

     

     

    

 

		Full Fat Milk Powder 

28% Fat
	 	 

 

Applications

Ice cream, Bakery, Dairy Beverage, Chocolate,
Desserts, Confectionery, Recombined Milk, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	28% min.
	Moisture	3.5% max,
	Protein	23.5% min.
	Ash (Minerals)	6.5% max.
	Lactose	38.5% approx.
	Lecithin	0.2%
	Scorched particles	Disc A

 

Typical Microbiological Analysis

	Total plate count	Max 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FFMP2824I-ML	Date: 17.2.12

 

 

     

     

    

 

		
        

        Whole
        Milk Powder

 

Applications

Ice cream, Bakery, Dairy Beverage, Chocolate,
Desserts, Confectionery, Recombined Milk, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% min.
	Moisture	4% max.
	Protein	24% min.
	Ash (Minerals)	7% max,
	Lactose	39% approx.
	Scorched particles	Disc A

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g 
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: WMP-2624R-OM	Date: 17.2.12

 

 

     

     

    

 

	 	

        Instant
        Whole Milk Powder

        28% Fat

 

Applications

Ice cream, Bakery, Dairy Beverage, Chocolate,
Desserts, Confectionery, Recombined Milk, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	28% min.
	Moisture	3.5% max.
	Protein	23.5% min.
	Ash (Minerals)	6.5% max.
	Lactose	38.5% approx.
	Lecithin	0.2%
	Scorched particles	Disc A

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative
	 	 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

15mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: WMP-2624R-OM	Date: 17.2.12

 

 

     

     

    

 

	 	

        Full
        Fat Milk Powder

        26% Fat

 

Applications

Ice cream, Dairy based Beverages, Chocolate,
Processed cheese & spreads, Ready to cook dishes, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour.

 

Typical Chemical & Physical Analysis

	Fat	26% rain.
	Moisture	4% max.
	Protein	24% min.
	Ash (Minerals)	7% max.
	Lactose	39% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FFMP2624R-CM	Date: 17.2.12

 

 

     

     

    

 

	 	Instant
    Full Fat Milk Powder

    28% Fat

 

Applications

Ice
cream, Bakery, Dairy Beverage, Chocolate, Desserts, Confectionery, Recombined Milk, and other applications.

 

Aspect

Light
cream colour, pleasant taste, milky flavour.

 

Typical
Chemical & Physical Analysis

	Fat	28% min.
	Moisture	3.5% max.
	Protein	23.5% min.
	Ash (Minerals)	6.5% max.
	Lactose	38.5% approx.
	Lecithin	0.2%
	Scorched particles	Disc A

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

16mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shelf Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: FFMP28241-OM	Date: 17.2.12

 

 

     

     

    

 

	 	Skimmed
    Milk Powder

 

Applications

Ice cream, Yoghurt, Dairy Beverages, Recombined
Milk, Bakery, Chocolate, Desserts, Confectionery, and other applications.

 

Aspect

Light cream colour, pleasant taste, milky
flavour,

 

Typical Chemical & Physical Analysis

	Fat	1.25% max.
	Moisture	4% max.
	Protein (NFDM)	34% min.
	Ash (minerals)	8% max.
	Lactose	53% approx.
	Scorched particles	Disc A/B

 

Typical Microbiological Analysis

	Total plate count	Max. 10,000/g
	Coliforms	<10/g
	Yeasts & Moulds	<10/g
	Salmonella	Negative

 

Packaging

Product is packed in 25kg net paper printed
bags with PE liner.

 

Loading

17mts in 20'fcl, 25mts in 40'fcl.

 

Storage and Shell Life

The product shelf life is 12 months. Goods
are recommended to be stored in a cool and dry clean place away from all sources of heat and odour. Prolonged exposure to light
should be avoided. If partially used bags of product are stored, care should be taken to seal the PE liner in order to prevent
the uptake of moisture which can give rise to caking or lump formations in the powder.

 

Origin

Singapore.

 

Note: The data outlined are intended as a source of information
only. It is subject to improvement or change without prior notice.

	Ref: WMP2624R-CL	Date: 17.2.12Exhibit 10.3

 

SERVICE CONTRACT 

FOR DAIRY PRODUCTS

 

( Ref. MPFI-GWIOL/06-2015/02
)

 

1.Parties

 

This Contract is made this 26th day of
June 2015 between:

 

M-Power Food Industries Pte Ltd a company
having its principal place of business at 76 Playfair Road, #03-06 LHK2 Building, 367996 Singapore (the "Service Provider")

Service Provider's bank:

Oversea-Chinese Banking Corporation Limited

65 Chulia Street, OCBC Centre, Singapore 049513.

Swift:
OCBCSGSG

Account number (SGD): 581- 185832-001

 

And

 

Global Win Investments Overseas
Ltd a company having its principal place of business at 678 Weizhou Road, Kuiwen District, Weifang City, Shandong Province,
China (the "Client").

 

2.Background

 

WHEREAS, Service Provider has
expertise in the production of formulated dairy products and is willing to provide technical support services and transfer of know-how
to Client concerning the development of its own production of such dairy products.

 

WHEREAS, Client desires to obtain
technical information, support and know-how from the Service Provider in order to develop production of the Dairy Products.

 

NOW THEREFORE, the parties,
in consideration of the mutual covenants and agreements to be performed as set forth in this contract, the receipt and sufficiency
of which consideration are hereby acknowledged, hereby agree as follows.

 

3.Scope
of Supply of Services:

 

Transfer of know how producing
formulated powdered milk inclusive of products testing, production training in Singapore and technical maintenance.

 

4.Assignment
Prohibited

 

Client's technical information
and know-how obtained from Service Provider under this Contract shall not be assigned, passed or sold to any third party by the
client without the prior written approval of the Service provider, and an attempted assignment by the Client may, at the sole discretion
of the Service Provider, be sufficient cause for termination of this Contract. In addition, Service Provider may at its sole discretion
terminate this Contract upon a corporate merger or other consolidation by the Client.

 

     

     

    

 

Ref. MPFI-GWIOL/06-2015/01

 

5. Technical Information, Know-how

 

(a)Buyer
hereby acknowledges that the technical information and know-how provided by the Seller are the property of the Seller. Buyer hereby
agrees to treat such technical information and know-how as confidential.

 

(b)Buyer
shall during the term of this Contract and after termination thereof, execute such documents as Seller may request from time to
time to ensure that all technical information, know-how, right, title and interest in reside with Seller.

 

(g) The terms and conditions of this clause
5 shall survive any termination of this Contract.

 

6. Contract Value and Payment Terms

 

In consideration of all the services and
rights supplied to Buyer hereunder as more fully specified in Item 3 Scope of Supply of Services above, Buyer shall pay to Seller
a total amount of US$3,750,000.00 as per the following schedule:

 

	-	1st Oct 15	:	10%
	-	2nd Nov 15	:	10%
	-	3rd Dec 15	:	20%
	-	4th Jan 16	:	20%
	-	5th Feb 16	:	20%
	-	6th Mar 16	:	20%

 

7.Implementation
Period

 

This
Contract shall be implemented within a period of 3 months from April to June 2015. It may be extended upon agreement between the
Seller and the Buyer.

 

8.Relationship
of the Parties

 

The relationship of the Buyer to Seller
is that of independent contractors, and neither Buyer nor its employees or agents are employees of the Seller. This Contract does
not constitute a joint venture or grant of a franchise between Seller and Buyer.

 

9.Merger

 

This Contract constitutes the entire understanding
of the parties, all prior understandings having been merged herein. This Contract may only be amended only by a writing signed
by both parties to this Contract.

 

10.Notices

 

All notices regarding this Contract shall
be in writing and shall be deemed delivered on the earlier date: (1) if sent by e-mail, delivery or mail when actually received
and acknowledged; or (2) 5 days after mailing by certified or registered mail, return receipt requested.

 

    	Page | 2

     

    

  

Ref. MPFI-GWIOL/06-2015/01

 

11.Choice
of Law

 

This Contract shall be governed
by British law. Furthermore, the parties hereby agree that any action or proceeding arising out of or relating to this Contract
shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce.

 

12.Indemnification
of the Seller

 

Client shall defend and indemnify
the Service Provider and hold the Service Provider harmless from any and all claims, damages, and reasonable attorney's fees and
related expenses arising from the use of Service Provider's Technical Information and Know-How. The provisions of this clause shall
survive the termination of this Contract for a period of two (2) years.

 

13.Execution

 

Each party has read this Contract
in its entirety and understands its terms and consequences. Each of the undersigned hereby represents that he or she has the authority
to enter into this Contract.

 

IN WITNESS WHEREOF the Service
Provider and Client have executed this Contract as of the date first written above.

 

	Service Provider:	M-POWER FOOD INDUSTRIES PTE. LTD.
	 	 	 
	Authorized Signatory: 	 	 
	 	 	 
	Date:          26/6/15	 	 
	 	 	 

 

	Client:	GLOBAL WIN INVESTMENTS OVERSEAS LTD
	 	 	 
	Authorized Signatory:	 	 
	 	 	 
	Date:	 	 
	 	 	 

 

    	Page | 3

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