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In the latest press-release, the company " Turnaround in 3Q2021 with Strong Growth from NutryFarm&rsquo s Durian Business Revenue Surged 42-Fold to HK$516.77 Million (S$90.02 Million(1)) with Net Profit of HK$19.24 Million (S$3.35 Million(1))"
Revenue increases 42x and the company made a profit!
Furthermore, there are also news that their med business is profitable.
This is really amazing progress for the company!
https://links.sgx.com/1.0.0/corporate-announcements/BSD9CIZ8F9ZYA8A0/ea7d22734430ce6500b47623e3e203f69f27349fab9a392438e96066f37d882d
Turnaround in 3Q2021 with Strong Growth from NutryFarm&rsquo s Durian Business Revenue Surged 42-Fold to HK$516.77 Million with Net Profit of HK$19.24 Million
Singapore, 15 August 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 it has recorded a strong set of third quarter results for the financial period ended 30 June 2021 (&ldquo 3Q2021&rdquo ).
Significant growth and contribution from the Group&rsquo s durian trading business: Majority of the revenue was generated by the Group&rsquo s subsidiary, Global Agricapital Holdings Pte Ltd. (&ldquo GAH&rdquo ), which is involved in the fruit business. GAH contributed revenue of HK$494.9 million in 3Q2021 through the fulfilment of durian shipments to its customers in the period. Separately, the Group&rsquo s nutrition business reported sales of HK$21.9 million in 3Q2021, representing an increase of 79.5% over the previous corresponding period.
The Group&rsquo s revenue growth in 3Q2021 was mainly driven by its durian trading business, which has been on a growth trajectory since 2Q2021.
Strong turnaround in 3Q2021 with net profit of HK$19.24 million: With the strong revenue contribution of the durian trading business and improved performance of the nutrition business, the Group marked a strong turnaround with a net profit of HK$19.24 million in 3Q2021 as compared to a loss in the previous corresponding period.
As a result, the Group&rsquo s revenue for the nine months ended 30 June 2021 (&ldquo 9M2021&rdquo ) increased substantially to HK$572.4 million with net profit of HK$18.7 million.
Recent Corporate Developments
Since December 2020, the Group has announced various agreements to sell fresh durians from Thailand to major Chinese fruit importers and the total contract value of these agreements has exceeded RMB 1.15 billion as at 30 June 2021.
Demonstrating its growing capabilities in the durian industry, the Group has been undertaking the fulfilment of the current order book on hand. At the same time, the Group is proactively looking to secure new orders from existing and new customers in Asia.
To accelerate its growth plans in Asia&rsquo s durian industry, the Group has expanded its business presence in Singapore over the past few months. Starting with a memorandum of understanding with established e-commerce company, EBUY, in May 2021, the Group has separately incorporated another new subsidiary, Kong Jun Global Pte Ltd (&ldquo KJG&rdquo ), which is a joint venture between the Group
and Kong Jun Durian Pte Ltd. (&ldquo Kong Jun&rdquo ) with 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.
On 4 June 2021, the Group announced a share placement exercise to raise S$6.38 million via the issuance of 22 million new ordinary shares which will be used for business expansion and working capital purposes in relation to the Group&rsquo s growth plans in Asia&rsquo s durian industry.
In June 2021, the Group appointed as the sole distributor of Malaysia&rsquo s leading durian brand, DKING&rsquo s (帝 一 榴 ) Musang King (猫 山 王 ) frozen durian pulp in Singapore for a period of two years. The Group will be tapping on its existing partner channels, Ebuy Pte Ltd and its own subsidiary, KJG, to market and sell the products.
In August 2021, the Group obtained approval from shareholders via an Extraordinary General Meeting to diversify its business and expand its core business to include fruit trading, including the principal activities of GAH.
Executive Director and Chief Executive Officer of NutryFarm, Mr. Cheng Meng (程 勐 ), said, &ldquo Despite the operational challenges arising from the COVID-19 pandemic, we have delivered a strong set of financial performance in 3Q2021, validating our strategic focus in the durian industry and our core competences in this niche agricultural industry.
We believe this is only the beginning of our journey and we have strategic ambitions to expand our business footprint within the global durian industry, driven with a focus on sustainable growth and building long-term value for our shareholders.&rdquo
NutryFarm is betting on Asia' s love affair with durians
The king of fruits will be the mainboard-listed company' s calling card into the global agricultural arena.
MAINBOARD-LISTED NutryFarm International wants to seize on China' s demand for durians, and eventually create an international platform where fresh produce can be sold and traded.
In an interview with The Business Times, Cheng Meng, who has been NutryFarm' s chief executive officer since January this year, says he has been busy focusing on two key objectives: one, to stabilise its nutrition and health food business which has been battered by regulatory headwinds and Covid-19 and two, to develop a new core business that capitalises on the group' s understanding of food certifications and connections in China, a move he believes will provide NutryFarm with a strong foundation and new growth drivers.
The 32-year old Chinese national, who had quit a lucrative engineering job at the age of 26 to trade Thai durians, sees new growth from the king of fruits - a green, spiky, football-sized fruit whose harvest is eagerly anticipated by many lusting for its custardy, yet potently odoriferous flesh.
After much discussions with the board, Global Agricapital Holdings (GAH) was incorporated in December 2020 for wholesale trading and distribution of fruits and vegetables as well as canning and preservation of fruits and juices.
" The nutrition and health food products business is seeing a transition phase after new regulations and directives in the industry that were introduced in recent years." Mr Cheng says. The group will continue to monitor the industry trends before deciding the next step for that business.
" As for our durian trading business, we see that despite the Covid-19 pandemic, China' s demand for durians remains robust," adds Mr Cheng, who is also the executive vice-president of the Thailand-Anhui Business Council.
Durian consumption is expected to grow in China, where 1.4 billion stomachs have the power to move markets, and where the fruit is finding a place on menus of large food and beverage brands such as McDonald' s, Pizza Hut, KFC and Starbucks. Consulting firm Plantations International predicts that the global market for raw durian (fresh, frozen, paste and pulp) will reach US$25 billion (S$33.68 billion) by 2030, up from US$15 billion in 2016. This will be driven by China.
Thailand, where the durian season stretches from February to November, is the world' s number one exporter. In 2019, Thailand exported US$1.5 billion worth of durians to overseas markets, up 54.6 per cent from the previous year. China, Hong Kong and Asean members accounted for 98 per cent of the demand. In 2020, China imported 575,000 tons of durians worth RMB14.7 billion (S$3.06 billion) from Thailand, up 78 per cent year-on-year, according to data from the Ministry of Agriculture and Cooperatives of Thailand.
A new growth driver
Mr Cheng says: " With strong demand from China, our first step is to harness the opportunities by expanding our trading and distribution business. We aim to scale up our business and secure new sales contracts with existing and new wholesale customers from China."
" Next, we want to expand across Asia, with the Singapore market being the next springboard to create more branding on our vacuum-packed durians targeted towards the consumer markets in Singapore. With our own sales channels, we have the opportunity to market other durians or durian-related products as a downstream distributor such as our recent appointment for DKING' s Musang King frozen durian pulp," he says. Musang King is arguably the creme de la creme of Malaysian durians, retailing around S$25 a kilogramme in Singapore.
GAH recently secured the sole distributorship of DKING' s Musang King Frozen Durian Pulp in Singapore from Duricious. This sole distributorship is for two years from June 24, 2021 to June 23, 2023. DKING is a pioneer in the export of Malaysia durians. It boasts of a liquid nitrogen freezing technology processing plant that allows deep freezing of durian products to preserve freshness and quality for export markets. GAH has placed its first order of 1,200 cartons (28,800 packs) with Duricious and the delivery is expected to arrive by mid-July 2021.
Mr Cheng believes the fruit business offers " reasonable prospects" for profit contribution and generating positive cash flows, enabling the group to operate as a going concern. NutryFarm intends to seek shareholders' approval to diversify its core into the fruit business.
" I believe that durian will be our calling card into the global agricultural arena and we look forward to harvesting the opportunities that come with it.
" With the strong momentum in our durian business, my vision for NutryFarm is to become a vertically integrated business enterprise and become a leading player in the global durian industry, creating an international platform where fresh produce in any country can be cross-marketed and traded to reach new geographical markets and customers," he says.
Beyond trading and distribution, the engineer by training sees opportunities to leverage technology in other important aspects of the durian supply chain where NutryFarm can potentially venture into to create more growth drivers and value propositions for stakeholders. These include the upstream components of plantations/farms and warehousing/processing, and the downstream components of logistics/transportation and wholesale/import.
" With greater vertical integration, there is more control on quality and cost at each component of the value chain and this may lead to higher operating margins and growth," Mr Cheng says.
As for funding needs to fulfil this vision, he says: " Ideally, we want to use our internal cash resources and free cash flow from our operations to fund our organic initiatives as this is the cheapest form of capital."
At the end of March 2021, NutryFarm had HK$3.8 million in cash and cash equivalents. In June, it announced a share placement exercise to raise S$6.38 million to accelerate its growth plans. After the placement, Mr Cheng will hold 9.7 per cent of NutryFarm.
Too early to call
While it is still too early to call, better cost control measures have narrowed losses in its nutrition business. NutryFarm achieved a turnaround in its latest results for the second quarter 2021, with a net profit of about HK$0.5 million, compared to net loss of HK$5 million (S$867,347) a year before. Durian trading was the major revenue contributor at HK$27.9 million out of the overall sales of HK$41 million.
Mr Cheng was introduced to NutryFarm by a business associate of the company, which led to his purchase of 13.3 million NutryFarm shares, or 11.5 per cent of the enlarged share capital, through a share placement last September. He obtained his Bachelor of Automotive Engineering degree from Shanghai University in 2013 and was seconded to Thailand at the age of 24 to be a project manager overseeing major construction projects in Thailand for China' s Shandong Electric Power Construction No.3 Engineering Company.
While he was working in Thailand, there were requests to purchase Thailand durians from Chinese fruit importers. That nudged the durian lover to trade in durians, a move he thought was simply buying low in Thailand and selling at a higher price to Chinese wholesale buyers. Within six months, that naivety cost him " millions of renminbi" .
Nevertheless, Mr Cheng perservered and grew his knowledge, experience and network over the ensuing years.
Despite family objections, he quit his job in 2015 and switched careers to trade durians. A year later, he founded the One Family (Thai) Company in Thailand, which is in the business of planting, trading and processing of durians.
" After more than 3-4 years on the ground and learning from the farmers and industry players, I felt confident enough to re-start the durian trading business and within a couple of years, I became one of the largest exporters of Thai durians to China," he says, citing quality assurance as one of the key cornerstone of the business.
With the reputation and track record built up over the past seven years, he says Chinese buyers put their trust and confidence in him and NutryFarm.
" We quickly secured several contracts, exceeding RMB 1.15 billion to-date, to supply fresh Thailand durians to Chinese fruit importers," he says. Buyers included Moonda (Beijing) Agriculture Science and Technology Co, Shanghai Yuqu Trading Co and China Railway Production Control (Chengdu) Industrial Co.
Guys, BUY IN ON DIPS! dont miss the boat again. All engines firing away!
NutryFarm Secures Sole Distributorship of Malaysia&rsquo s Leading Durian Brand, DKING&rsquo s Musang King (猫 山 王 ) Frozen Durian Pulp, in Singapore
NutryFarm Secures Sole Distributorship of Malaysia&rsquo s Leading Durian Brand, DKING&rsquo s Musang King (猫 山 王 ) Frozen Durian Pulp, in Singapore
&bull DKING (帝 一 榴 ) is Malaysia&rsquo s leading durian brand and it has been chosen to showcase its durians and durian related-products to visiting dignitaries (such as Chinese President Xi Jinping, Former US President Barrack Obama and Singapore Prime Minister Lee Hsien Loong, among others) to Malaysia
&bull DKING (帝 一 榴 ) is also a pioneer in the export of Malaysia durians and they have a liquid nitrogen freezing technology processing plant that allows deep freezing of its durian products to preserve the freshness and quality for export markets
Singapore, 24 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 wholly-owned subsidiary of Global Agricapital Holdings Pte Ltd (&ldquo GAH&rdquo ) has been appointed by Duricious Sdn Bhd (&ldquo Duricious&rdquo ) as the sole distributor of DKING&rsquo s Musang King (猫 山 王 ) Frozen Durian Pulp in Singapore for a period of two years from 24th June 2021 to 23rd June 2023.
Established since 2011, Duricious has built DKING (帝 一 榴 ) into Malaysia&rsquo s leading durian brand and it successfully developed and commercialised several downstream durian products such as Fried Frozen Durian, Musang King Mooncake, Durian Mochi, among others. For more information on DKING, please their website here: https://dking.com.my/
In addition, Duricious focuses on vertical integration within the durian industry with a rigorous standard of quality, from upstream production to downstream product development, distribution and retail sales and marketing. Testament to its high quality and food safety standards, Duricious Sdn Bhd has obtained various certifications such as Halal, MyGAP and GMP, for its production facilities.
Notably, Duricious has ventured into sustainable agriculture primarily in Musang King and Black Thorn (黑 刺 ) durian plantations that is managed by agribusiness experts and durian agriculturists with 15 years of technical know-how and experience in this niche area. For more information on Duricious, please their website here: https://duricious.com
Accordingly, GAH has placed its first order of 1,200 cartons (28,800 packs) with Duricious and the delivery is expected to arrive by mid-July 2021. GAH will be tapping on its existing partner channels, Ebuy Pte Ltd and its own subsidiary, Kong Jun Global Pte Ltd to market and sell the products.
To accelerate its growth plans in Asia&rsquo s durian industry, the Group has expanded its business presence in Singapore over the past few months. Starting with a memorandum of understanding with established e-commerce company, EBUY, in May 2021, GAH has separately 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.
Executive Director and Chief Executive Officer of NutryFarm, Mr. Cheng Meng (程 勐 ), said, &ldquo DKING has built up a strong brand and reputation in Malaysia over the past 10 years, hence we are encouraged with their confidence in our capabilities to grow their brand and expand their sales channels in Singapore with this sole distributorship agreement.
With DKING&rsquo s access to top quality Musang King durians and the adoption of freezing technology, we will be able to supply Musang King froze durian pulp to customers in Singapore with consistency in quality and freshness.&rdquo
NutryFarm Fulfils More Orders of Fresh Durians to Chinese Purchasers: 3rd Quarter Revenue Expected to Increase
&bull Fulfilled its obligations to Shanghai Yuqu for the purchase and shipment of 180 containers of fresh durians amounting to approximately RMB 117 million
&bull Shipped 227 containers of Golden Pillow Durians to China Railway Production Control
&bull Currently in discussion with Moonda to enter into an additional purchase agreement with Moonda following the fulfilment of 200 containers of fresh durians amounting to approximately RMB 130 million in 30 April 2021.
Singapore, 18 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 wholly-owned subsidiary, Global Agricapital Holdings Pte Ltd (&ldquo GAH&rdquo ), has fulfilled more orders of fresh durians from Thailand to Chinese buyers in relation to the Import Purchase Agreement
As at 21 May 2021, GAH has 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, GAH is currently in discussion with Moonda (Beijing) Agriculture Science and Technology Co., Ltd (&ldquo Moonda&rdquo ) to enter into an additional purchase agreement for the rest of the calendar year,
following the fulfilment of its obligation for the purchase and shipment of 200 containers of fresh durians amounting to approximately RMB 130 million as at 30 April 2021.
Accordingly, the Group expects its 3rd quarter revenue to increase.
More recently, the Group entered into a joint venture agreement with Kong Jun Durian Pte Ltd (&ldquo Kong Jun&rdquo ), 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 (&ldquo Ang Family&rdquo ) to expand into durian business in Singapore.
Mr Ang Seck Puan has more than 50 years ago of experience in the fruit trading business, particularly in the durian industry where he is the founder of Combat Durian, an iconic and reputable durian
retailer in Singapore.
Under the agreement, a new joint venture company will be set up where GAH will supply the prepackaged durians and Kong Jun will leverage on their strong retail experience and extensive sales channels for the sales and distribution. GAH will hold 51% of the joint venture company while Kong Jun will hold the remaining 49%.
Executive Director and Chief Executive Officer of NutryFarm, Mr. Cheng Meng (程 勐 ), said, &ldquo Within a short period of time, we have secured close to RMB 1 billion worth of sales orders to supply fresh Thailand durians to Chinese buyers.
Since then, we have progressively fulfilled our obligations to procure and deliver high quality durians so as to reinforce our customers&rsquo confidence and trust in us and foster a long-term working relationship together.
Building on this strong momentum, we aim to harness more value propositions along the value chain of the durian industry in Asia.&rdquo
Global Agricapital Holdings, a wholly-owned subsidiary of Nutryfarm, has entered into a joint venture agreement (JVA) with Kong Jun Durian on June 10.
Under the JVA, the parties intend to establish a joint venture company (JVC) to be incorporated in Singapore to sell and distribute pre-packed durians in Singapore.
Through the JVC, Global Agricapital Holdings will supply the pre-packed durians and Kong Jun will oversee the sales and distribution. Global Agricapital Holdings will hold 51% in the JVC while Kong Jun will hold the remaining 49%.
Kong Jun is owned by the Ang family.
Nutryfarm to establish JV company Kong Jun Durian | The Edge Singapore
Under the JVA, the parties intend to establish a joint venture company (JVC) to be incorporated in Singapore to sell and distribute pre-packed durians in Singapore.
Through the JVC, Global Agricapital Holdings will supply the pre-packed durians and Kong Jun will oversee the sales and distribution. Global Agricapital Holdings will hold 51% in the JVC while Kong Jun will hold the remaining 49%.
Kong Jun is owned by the Ang family.
Nutryfarm to establish JV company Kong Jun Durian | The Edge Singapore
Good article on NutryFarm' s CEO..https://www.sgx.com/research-education/market-dialogues/20210604-nutryfarm-satisfies-chinas-growing-love-durians
Some background information about the CEO of Nutryfarm:
After obtaining his Bachelor of Automotive Engineering degree from Shanghai University in 2013, Cheng began his career as a project manager overseeing major construction projects in Thailand for China&rsquo s Shandong Electric Power Construction No.3 Engineering Company.
When Cheng first got interested in durians and started dabbling in the trading and distribution of the fruit, his inexperience and lack of knowledge led to him losing millions of renminbi within 6 months. While this initial foray had drained a significant portion of his financial resources, it also taught Cheng many important lessons, and allowed him to build up a more comprehensive understanding of the trade. He was undaunted and vowed to make a name for himself in the durian trade.
&ldquo So against my family&rsquo s wishes, in 2015, I quit my well-paid job as project manager and switched careers to the durian industry.&rdquo
In 2016, Cheng founded the One Family (Thai) Company Ltd in Thailand, which is in the business of planting, trading and processing of durians.
&ldquo As we are dealing with fresh produce, technical knowledge is vital and serves as a key entry barrier to this industry,&rdquo he noted.
&ldquo Not only does it takes time to accumulate know-how and skills, we also need to be constantly on the ground, building on our agricultural expertise and expanding our networks with the farmers and plantations.&rdquo
Over the course of this journey, a feather in his cap was chalking up sales of US$200 million in fresh Thai durians, the majority of which was exported to China. Since December 2020, NutryFarm has inked various agreements to sell 1,480 containers of fresh durians from Thailand to major Chinese fruit importers. The total contract value of these agreements is estimated at approximately RMB962.0 million as at 13 February 2021.
The company has aggressive plans to further expand its business. Last month, the Group announced plans to expand its durian business in Singapore with local e-commerce partner EBuy Pte Ltd. Ebuy will import pre-packaged durians from Malaysia and Thailand on behalf of GAH and its suppliers, and distribute them in Singapore. The first shipment is expected by 1 June 2021.
&ldquo As part of our continuous efforts to be a preferred partner, we aim to utilise our specialised industry knowledge and access to various supply origins in Thailand to expand our business presence in Asia,&rdquo Cheng said.
And in view of the Group&rsquo s intention to build up capabilities in the wholesale trading of fruits, NutryFarm will seek shareholder approval for the proposed diversification of its core business.
After obtaining his Bachelor of Automotive Engineering degree from Shanghai University in 2013, Cheng began his career as a project manager overseeing major construction projects in Thailand for China&rsquo s Shandong Electric Power Construction No.3 Engineering Company.
When Cheng first got interested in durians and started dabbling in the trading and distribution of the fruit, his inexperience and lack of knowledge led to him losing millions of renminbi within 6 months. While this initial foray had drained a significant portion of his financial resources, it also taught Cheng many important lessons, and allowed him to build up a more comprehensive understanding of the trade. He was undaunted and vowed to make a name for himself in the durian trade.
&ldquo So against my family&rsquo s wishes, in 2015, I quit my well-paid job as project manager and switched careers to the durian industry.&rdquo
In 2016, Cheng founded the One Family (Thai) Company Ltd in Thailand, which is in the business of planting, trading and processing of durians.
&ldquo As we are dealing with fresh produce, technical knowledge is vital and serves as a key entry barrier to this industry,&rdquo he noted.
&ldquo Not only does it takes time to accumulate know-how and skills, we also need to be constantly on the ground, building on our agricultural expertise and expanding our networks with the farmers and plantations.&rdquo
Over the course of this journey, a feather in his cap was chalking up sales of US$200 million in fresh Thai durians, the majority of which was exported to China. Since December 2020, NutryFarm has inked various agreements to sell 1,480 containers of fresh durians from Thailand to major Chinese fruit importers. The total contract value of these agreements is estimated at approximately RMB962.0 million as at 13 February 2021.
The company has aggressive plans to further expand its business. Last month, the Group announced plans to expand its durian business in Singapore with local e-commerce partner EBuy Pte Ltd. Ebuy will import pre-packaged durians from Malaysia and Thailand on behalf of GAH and its suppliers, and distribute them in Singapore. The first shipment is expected by 1 June 2021.
&ldquo As part of our continuous efforts to be a preferred partner, we aim to utilise our specialised industry knowledge and access to various supply origins in Thailand to expand our business presence in Asia,&rdquo Cheng said.
And in view of the Group&rsquo s intention to build up capabilities in the wholesale trading of fruits, NutryFarm will seek shareholder approval for the proposed diversification of its core business.
Tmr play like b horse
Homily go go go
Why they like to play with 200, 300 hundred shares?.
| Time | Last | Volume | Bid/Ask |
| 15:43:47 | 0.315 | 200 | B |
| 14:54:34 | 0.320 | 20,000 | A |
| 13:13:08 | 0.315 | 7,500 | B |
| 13:13:08 | 0.315 | 15,000 | B |
| 11:36:32 | 0.315 | 12,500 | B |
| 11:05:11 | 0.320 | 300 | A |
| 10:10:01 | 0.320 | 20,000 | A |
NutryFarm to Raise S$6.38 Million from Share Placement
The Company has entered into placement agreements dated 4 June 2021 (&ldquo Placement Agreements" ) with the following persons (collectively, the " Placees" ), whereby the Placees have agreed to subscribe for the following respective amounts of new ordinary shares in the capital of the Company (&ldquo Placement Shares&rdquo ) (totaling 22,000,000 new Placement Shares) at the issue price of S$0.29 per Placement Share, subject to and upon the terms of the respective Placement Agreements
The estimated net proceeds from the Proposed Placement, after deducting estimated expenses pertaining to the Proposed Placement of S$40,000, will be S$6,340,000. The net proceeds will be used for working capital purposes in accordance with the intended use as set out below:
Working Capital for the durian trading business S$4 million
Working Capital for new markets for the fruit trading business S$1 million
Headquarter expenses and payables S$1 million
BALANCE S$340,000
Recession proof business....:)
richie_rich ( Date: 03-Jun-2021 15:55) Posted:
|
As with most turnaround companies, gotta give it some time to let the numbers settle for a clearer picture. This industry is more that just durian trading. If they can secure cheap supplies, they can freeze the pulp and sell it for a higher price for confectionary and other food products during peak season. A lot of other opportunities too, so we shall see what is up this CEO' s sleeves.
I go by logic .
Dont care what cheng or what chan family.
Sales surged 615% BUT
Net profit ONLY HKD 0.46 mil ??????? (Said already , most hawker stall in Spore made more $ than this)
Means profit margin super low.
Think their logistics suppliers made more $ than them the business provider.
I really like to eat DURIANS.
But this is about business.
DYODD
SamWong ( Date: 17-May-2021 17:11) Posted:
|
Mr Cheng family busines, join NutryFarm. ☆ 》 He saw the listed coy as a vehicle that can significantly scale up the durian/fruit business and manage large working capital and receivables.?
☆ ☆ 》 》 Upon coming on board as the CEO, rapid changes have follows:....
How can buy this type of stock.
Profit margin so low.
I like to eat durian but then sales surged 615% net profit only HKD 0.46 mil ??????????
This net profit is less than SGD 0.1 mil.
I think the rojak hawker stall @ balestier made 5X more $ than this enterprise.
DYODD
New core business coming soon. More n better cash flow. Thank Q durian boss.
8PR ASIA is organising a ZOOM presentation for NutryFarm& rsquo s CEO, Mr Cheng Meng, to share more insights and updates on:
Date: 19 May 2021 (Wed)
Time: 3.00 p.m. (Singapore)
Here are the ZOOM details:
https://us02web.zoom.us/j/86707900223?pwd=YnRKQXRQWlFiODR6V21XWHNZZnlP...
Meeting ID: 867 0790 0223
Passcode: 177221
One tap mobile
+6531651065,,86707900223#,,,,*177221# Singapore
+6531587288,,86707900223#,,,,*177221# Singapore
Dial by your location
+65 3165 1065 Singapore
+65 3158 7288 Singapore
Meeting ID: 867 0790 0223
Passcode: 177221
Find your local number: https://us02web.zoom.us/u/keflRLoIP8...
Look forward to your participation.
__________________________________________________
NutryFarm has made recent announcements on its corporate results and developments:
- With 2Q Sales Surging 615% with Net Profit of HK$0.46 Million Due to Durian Trading Business
- Expansion of its Durian Business in Singapore with Established E-Commerce Company, EBuy
Since December 2020, Nutryfarm has announced various agreements to sell a total of 1,480 containers of fresh durians from Thailand to major Chinese fruit importers. The total contract value of these agreements is estimated at approximately RMB 962.0 million as announced on 13 February 2021.
Global Agricapital has fulfilled its obligations to Moonda for the purchase and ship 200 containers of fresh durians by 30 April 2021 amounting to RMB130 million. As at 31 March 2021, Global Agricapital shipped 35 containers to Moonda and this was recognized in the Group& rsquo s 2nd quarter financial results announcement where the fruit trading business recorded a revenue of HK$27.9 million contributing substantially to the profit turnaround in the 2nd quarter.
Accordingly, the Group expects the 3rd quarter revenue to increase.
The Company is intending to seek shareholders& rsquo approval for a proposed diversification of the Group& rsquo s core business in view of the Group& rsquo s intention to build these capabilities. The Company has submitted the circular for SGX approval on 16 February 2021 and is intending to convene a general meeting to seek shareholders& rsquo approval as soon as practicable.
Date: 19 May 2021 (Wed)
Time: 3.00 p.m. (Singapore)
Here are the ZOOM details:
https://us02web.zoom.us/j/86707900223?pwd=YnRKQXRQWlFiODR6V21XWHNZZnlP...
Meeting ID: 867 0790 0223
Passcode: 177221
One tap mobile
+6531651065,,86707900223#,,,,*177221# Singapore
+6531587288,,86707900223#,,,,*177221# Singapore
Dial by your location
+65 3165 1065 Singapore
+65 3158 7288 Singapore
Meeting ID: 867 0790 0223
Passcode: 177221
Find your local number: https://us02web.zoom.us/u/keflRLoIP8...
Look forward to your participation.
__________________________________________________
NutryFarm has made recent announcements on its corporate results and developments:
- With 2Q Sales Surging 615% with Net Profit of HK$0.46 Million Due to Durian Trading Business
- Expansion of its Durian Business in Singapore with Established E-Commerce Company, EBuy
Since December 2020, Nutryfarm has announced various agreements to sell a total of 1,480 containers of fresh durians from Thailand to major Chinese fruit importers. The total contract value of these agreements is estimated at approximately RMB 962.0 million as announced on 13 February 2021.
Global Agricapital has fulfilled its obligations to Moonda for the purchase and ship 200 containers of fresh durians by 30 April 2021 amounting to RMB130 million. As at 31 March 2021, Global Agricapital shipped 35 containers to Moonda and this was recognized in the Group& rsquo s 2nd quarter financial results announcement where the fruit trading business recorded a revenue of HK$27.9 million contributing substantially to the profit turnaround in the 2nd quarter.
Accordingly, the Group expects the 3rd quarter revenue to increase.
The Company is intending to seek shareholders& rsquo approval for a proposed diversification of the Group& rsquo s core business in view of the Group& rsquo s intention to build these capabilities. The Company has submitted the circular for SGX approval on 16 February 2021 and is intending to convene a general meeting to seek shareholders& rsquo approval as soon as practicable.
NutryFarm Enters into Two New Purchase Contracts for a Total Volume of 570 Containers of Fresh Durians from Thailand
&bull Since December 2020, the Group has entered into various agreements to sell over 1,480 containers of fresh durians from Thailand to major Chinese fruit importers
&bull The total contract value of these agreements is estimated at approximately RMB 962.0 million as announced on 13 February 2021
&bull Shipments of fresh durians have already started since 20 February 2021 and will continue throughout 2021
Singapore, 17 March 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 Company&rsquo s wholly owned subsidiary, Global Agricapital Holdings Pte. Ltd. (&ldquo GAH&rdquo ), has entered into two binding purchase agreements with Royal Farm Group Co., Ltd (&ldquo RFG&rdquo ) and Thung Thang Thong Co., Ltd. (&ldquo TTT&rdquo ).
Under the agreements, GAH has entrusted RFG and TTT to purchase an estimated volume of 270 and 300 containers of fresh durians in Thailand respectively.
The price will be based on market price which is acceptable to GAH and the orders will be placed by GAH in batches. GAH shall made a pre-payment of not more than 30% of the order amount upon confirmation of each batch order with the remainder to be paid within thirty days after delivery.
It is also agreed that RFG and TTT shall guarantee the quantity of goods shipped from Thailand and exercise strict quality control based on the requirement of the logistics partner as well as during transportation and warehousing.
Led by the Group&rsquo s CEO, Mr. Cheng Meng, an industry veteran in the durian industry, the Group has entered into various agreements to sell over 1,480 containers of fresh durians from Thailand to major Chinese fruit importers since December 2020. The total contract value of these agreements is estimated at approximately RMB 962.0 million as announced on 13 February 2021.
Together with these latest two purchase contracts, the Group has entered into purchase agreements to collectively purchase 870 containers of fresh durians from various sources in Thailand to fulfil the sales orders. Shipments of the fresh durians have already started since 20 February 2021 and will continue throughout 2021.
In 2019, Thailand exported US$1.46 billion worth of durians to overseas markets, a rise of 54.6% from the previous year, with China, Hong Kong and ASEAN nations accounting for 98% of export volume.
According to data from China Customs, China&rsquo s imports of fresh and frozen durians in the first half of 2020 reached US$1.62 billion, corresponding to a 73.5% year-on-year increase and almost reaching
the US$1.82 billion imported during the whole of 2019. In the first half of 2020, China&rsquo s imports of fresh durians reached US$1.52 billion, corresponding to a 75.7% year-on-year increase.
Mr. Cheng Meng (程 勐 ), Executive Director and Chief Executive Officer of NutryFarm, commented, &ldquo China&rsquo s demand for durians has remained strong despite the COVID-19 pandemic and Thailand is the only country that can export fresh durians to China.
Specialised knowledge, industry experience and network are required in the durian trade, particularly when it comes to the cross-border trade of fresh produce, hence there are significant barriers of entry in this industry.
With China&rsquo s durian supply relying almost entirely on imports, we believe that the growing demand from the Chinese market can provide us with significant opportunities.&rdquo
With the latest announcement, now might be a good time to enter. I see support at 0.42.
Please DYODD.
https://links.sgx.com/1.0.0/corporate-announcements/HTUP4NPVAP8AUXQ9/1367a1ed39f576ef79e6bbc54ec94ca39a918659ba1c6b9a51fcb2797537ec56
Please DYODD.
https://links.sgx.com/1.0.0/corporate-announcements/HTUP4NPVAP8AUXQ9/1367a1ed39f576ef79e6bbc54ec94ca39a918659ba1c6b9a51fcb2797537ec56
ThankYou ( Date: 08-Mar-2021 23:11) Posted:
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