Electronic components distributor Serial System is diversifying into the durian business.
In an announcement on Monday evening, the group said that a wholly owned subsidiary, Serial System International (SSIPL), and its CEO, Derek Goh, has entered into a joint venture agreement with an individual called Ting Ding Ing.
The newly incorporated JV company, Bast Investment, has agreed to subscribe for 10 shares in Musang Durian for USD $2,336,721.
Musang Durian is engaged in the business of manufacturing, processing, trading and exporting durian puree and durian-related products.
Serial System said its directors believe the proposed subscription will provide additional income streams for the group.
