KAWAN Food Bhd’s wholly owned unit, Kawan Food Manufacturing Sdn Bhd (KFM), has entered into a joint venture (JV) agreement with Good2Nature Sdn Bhd to undertake the business of producing bio compost.

Kawan Food told the stock exchange yesterday that the JV will enable the group to venture into new business. 

KFM will have a 40% shareholding in the JV company, Kawan2Nature Sdn Bhd, while Good2Nature will hold the balance 60%.

Shares of Kawan Food fell 0.43% or one sen to RM2.29, translating to a market capitalisation of RM830 million. — TMR / pic source: kawanfood.com