GLOBAL Agricapital Holdings, a unit of Nutryfarm International, has entered a joint venture with retailer Kong Jun Durian to sell pre-packed durians in Singapore, the mainboard-listed company announced in a bourse filing on Thursday night.

Owned by the Ang family, Kong Jun is in the business of selling fresh durians in Singapore. It runs Combat Durian and Kong Jun, with two stalls in Balestier and Rangoon Road. Kong Jun and its shareholders have no prior dealings with Nutryfarm, the bourse filing said.

The joint venture company will have an initial issued and paid-up share capital of S$10,000, with 51 per cent owned by Global Agricapital and the remainder by Kong Jun. Global Agricapital will nominate one director to be the chairman, while Kong Jun will nominate its shareholder Ang Choon Cheng, who will take charge of operations as the managing director.

Nutryfarm said in its filing: "The board believes that the proposed joint venture will enable the group to grow its fruit trading business in Singapore. (It) will also allow the group to leverage on the retail and distribution network of Kong Jun and its associates."

Shares of Nutryfarm closed flat at S$0.325 on Thursday.