Bacui Technologies (SGX:YYB) said its subsidiary Bacui Talent (Guangdong) Enterprise Service will form a joint venture with Foshan Shunde District Leliu Fashion Resource Center in China, according to a Tuesday filing on the Singapore Exchange.
The new company, Foshan Shunde Leba Enterprise Service, will have a registered capital of 1 million yuan (SG$184,000), with Bacui Talent holding 49% and Foshan Shunde District Leliu Fashion owning 51%. Bacui Talent will invest 490,000 yuan (SG$90,000) into the JV from internal funds.
The venture will focus on food retail, agricultural processing, and kitchenware sales. BTES will manage operations, while FSDLF will generate business leads.
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