Zixin Group (SGX:42W
) (Zixin) announced that its wholly-owned subsidiary, Zixin Enterprise (Singapore) Pte Ltd, has established a joint venture company called Zixin Fresh Import & Export Pte Ltd, with AANDJ Group Pte Ltd (AANDJ Group) to embark on the fresh agricultural products distribution business in Singapore, and subsequently neighbouring Southeast Asian countries.
Zixin explains that this joint venture is part of the company’s strategic expansion plans in overseas markets.
AANDJ Group is an unrelated third-party Singapore-based company, which focused on consultancy, trade, and strategic business development, with particular involvement in fresh produce supply chains, market operations, and digitalisation initiatives.
Pursuant to the joint venture agreement, Zixin’s wholly-owned subsidiary will own 70% of the joint venture company while AANDJ Group will own the remaining 30%.
Zixin’s board believe that the joint venture will allow the company to have immediate access to AANDJ Group’s affiliated distribution platforms to market and distribute fresh produce and expands its sales revenue in overseas markets with fresh agricultural products.
Zixin highlights that the joint venture is not expected to have any material impact on its consolidated net tangible assets or earnings per share for the financial year ending March 31, 2027.
See also: Skylink expects to report 'substantially' higher 2HFY2026 earnings, excluding one-offs
As at 9.17am, shares of Zixin are unchanged at 3.1 cents.
