KTL GLOBAL LIMITED

(Incorporated in the Republic of Singapore under Registration Number 200704519M)

BUSINESS UPDATE - MEMORANDUM OF UNDERSTANDING WITH MARINE ALLIANCE

SERVICES PTE. LTD.

The Board of Directors (the "Board") of KTL Global Limited (the "Company", together with the subsidiaries, the "Group") wishes to announce that the Company's wholly owned subsidiary, Tianci Agritech Pte. Limited ("Tianci Agritech") has on 8 September 2021, entered into a memorandum of understanding (the "MOU") with Marine Alliance Services Pte. Ltd. ("MAS"). The purpose of the MOU is to provide a framework for the cooperation between the parties on this project.

The key terms of the area of cooperation are set out below:

The core business of MAS includes the supplies of vessel provisions, daily necessities supply and land- based B2C e-commerce.

Tianci Agritech intends to become a comprehensive supplier of vessel provisions and daily necessities of MAS, and Tianci Agritech will provide provisions and daily necessities supply, material warehousing, inventory management and logistics distribution.

Tianci Agritech also intends to become a full-scale supplier and carrier of land-based B2C e-commerce of MAS. Tianci Agritech will provide e-commerce commodity supply, material warehousing, inventory management, delivery of goods and customer service.

The term of the cooperation under the MOU is initially one year, commencing from September 2021. The parties can agree to renew the MOU after expiration, and the extended period would be negotiated by both parties.

BY ORDER OF THE BOARD

Chin Teck Oon

Executive Director

10 September 2021

1

Attachments

  • Original document
  • Permalink

Disclaimer

KTL Global Limited published this content on 10 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2021 12:11:01 UTC.