Singapore, 21 June 2021 &ndash NutryFarm International Limited (&ldquo NutryFarm&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ), is pleased to announce that the Group&rsquo s indirectly wholly-owned subsidiary, Global Agricapital (Thailand) Co., Ltd (&ldquo GAT&rdquo ), has secured new sales order of approximately RMB 195 million from Moonda (Beijing) Agriculture Science and Technology Co., Ltd (&ldquo Moonda&rdquo ) for 300 containers of fresh durians from Thailand from 1 July 2021 to 31 December 2021.

 

GAT was recently incorporated in Thailand with a paid-up capital of Thai Baht 5 million and it is a wholly-owned subsidiary of Global Agricapital Holdings Pte Ltd (&ldquo GAH&rdquo ). GAT will operate and manage the Group&rsquo s durian trading business in Thailand.

 

Previously, GAH has fulfilled its obligation for the purchase and shipment of 200 containers of fresh durians amounting to approximately RMB 130 million to Moonda as at 30 April 2021.

 

As at 21 May 2021, GAH has also completed its obligations to Shanghai Yuqu Trading Co., Ltd（ 上 海 昱 渠 贸 易 有 限 公 司 ） (&ldquo Shanghai Yuqu&rdquo ) for the purchase and shipment of 180 containers of fresh durians amounting to approximately RMB 117 million pursuant to the Import Purchase Agreement as announced on 18 January 2021.  

 

And as at 15 June 2021, GAH has also shipped 227 containers of Golden Pillow Durians from Thailand to China Railway Production Control (Chengdu) Industrial Co., Ltd（ 中 铁 产 控 （ 成 都 ） 实 业 有 限 公 司 ） (&ldquo China Railway Production Control&rdquo ). This represents approximately 38% of the 600 containers committed from 1 March 2021 to 31 December 2021 pursuant the Import Purchase agreement as announced on 29 January 2021.  

 

Separately, GAT has signed a new purchase agreement with Tianchue (Thailand) Co., Ltd (&ldquo Tianchue&rdquo ) to entrust Tianchue to purchase an estimated volume of 200 containers of fresh durians in Thailand. It is also agreed that Tianchue shall guarantee the quantity of goods shipped from Thailand, the product&rsquo s place of origin, exercise strict quality control over the goods based on the requirement of the logistics partner and abide by the payment contract terms.

 

The Group has also recently incorporated another new subsidiary, Kong Jun Global Pte Ltd (&ldquo KJG&rdquo ), which is a joint venture between GAH and Kong Jun Durian Pte Ltd.   As announced on 10 June 2021, KJG will be held 51% by GAH and 49% by Kong Jun Durian Pte Ltd (&ldquo Kong Jun&rdquo ) with a paid-up of S$10,000 and a focus on the sales and distribution of pre-packed durians. Kong Jun is a company set-up by Mr Ang Seck Puan, the founder of Singapore&rsquo s well-known durian retailer, Combat Durian, and certain members of the Ang family