Tianci Agritech – the wholly-owned subsidiary of SGX-listed KTL Global has signed an agreement with a subsidiary of Shuifa Group for the supply of fresh produce. The companies will also look to undertaking urban farming initiatives in Singapore.
The Shandong-based Shuifa Group provides services such as water treatment, environmental protection, modern agricultural and clean energy.
See also: KTL Global to acquire Tianci Agritech, a fresh vegetable and fruit produce business, for $200,000
Under its modern agricultural segment, the group operates high-tech and automated work processes within its farms to improve the production yield, quality and food safety of its agricultural products.
The agreement is part of KTL Global’s move to expand its “range of fresh food produce to market and distribute to in Singapore,” says executive director Chin Teck Oon.
“We have taken an important step to move upstream with urban farming initiatives so as to create better linkages between urban food systems,” adds Chin.
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Shares in KTL Global closed down 0.1 cents or 0.86% at 11.6 cents on Aug 6.
Cover image: file photo