KTL Global has, through its wholly-owned subsidiary Tianci Agritech, entered into a strategic collaboration agreement with Taiwanese partners to establish a food supply logistic chain network in Southeast Asia.
According to a statement by KTL Global on Sept 14, the group, together with its Taiwanese partners, will be involved in the procurement, logistics supply chain and distribution of fresh produce and consumer products, primarily from Taiwan.
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The Taiwanese partners comprised a Taiwan farming co-operative and an “established” Taiwanese logistics company, though KTL Global did not disclose their names. The strategic collaboration is for a period of two years.
“With air travel curtailed, we will work closely with our Taiwanese partners to bring in Taiwanese food products that are popular among consumers in Singapore and Southeast Asia. Aligned with Singapore’s strategy to diversify our food sources, we aim to further expand our product portfolio and strengthen our supply chain capabilities to better serve our customers in Singapore and expand our business presence across the regional markets as well,” says Chin Teck Oon, executive director of KTL.
As at 10.08am, shares in KTL Global are trading flat at 11.6 cents.