China Kunda Technology Establishes Joint Venture in China

MT Newswires

01/29

China Kunda Technology (SGX:GU5) said its subsidiary Kunda Plastic Electronic (Shenzhen) has established a joint venture company in China, named Shenzhen Xiao Qiang Quan Technology, with Shenzhen Yidaoshun Biotechnology.

The JV has an initial registered capital 2 billion yuan, with Kunda Plastic Electronic having a 51% stake and Yidaoshun Biotechnology holding the remaining 49% stake, according to a Thursday filing with the Singapore Exchange.

The new JV company is involved in the business of electrolyzed functional drinking water and sanitizer business.

Shares of the supplier of pest control products slumped nearly 10% at the close of trading on Thursday.

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