SEE:GKE Corporation enters into definitive SPA for sale of 65% interest in Van Der Horst Logistics
It added it has adopted the controlled-environment agriculture approach, where automation and sensors are deployed to provide protection and maintain optimal growing conditions throughout the development of the crop. GKE then said the initial focus of GKE Agritech is to grow kale as its key product for local consumption, and believes that indoor cultivation of kale will provide consistency in the quality and quantity of pesticide-free vegetables, Neo Cheow Hui, CEO and Executive Director of GKE explained that the kale is cultivated indoors vertically via a racking system, which allows the company to enjoy higher utilisation of the office space. Furthermore, Neo said the current cultivation area for kale is about 2,400 square feet, and with the farm licence, the company is looking to increase the cultivation area gradually to 12,500 square feet. As the business of GKE Agritech is still at an early stage, GKE does not expect this to have any material contribution to the Group in the current financial year ending 31 May 2021, and said it will update shareholders on material developments as and when they arise. As at 12.53pm, shares of GKE were trading flat at 13 cents.