NutryFarm International’s Bold Pivot: New AI & Cloud Computing Ventures Amid Ongoing Judicial Management

Key Developments Unveiled: New Business Segment, Critical Contracts, and Judicial Management Updates

NutryFarm International Limited (“NutryFarm” or the “Company”), currently under judicial management, has released its latest monthly update, revealing significant strategic shifts and further developments that shareholders and investors must scrutinize closely.

1. Major Strategic Expansion via AI Nova Pte Ltd

• The Company’s wholly-owned subsidiary, AI Nova Pte Ltd (formerly Global Agricapital Singapore Pte. Ltd.), has formally launched a new business segment. This pivot includes:
  • High-performance computing equipment leasing services
  • Data centre and warehouse operation & maintenance services
  • Telecommunication services, including voice, data, and value-added solutions for both enterprise and individual users in Singapore
• AI Nova has entered into several key service agreements to operationalize and expand this segment:
  • 1st Service Agreement (24 June 2025): For supply of cloud-based computing, maintenance, and related services. This contract was further clarified by two variation agreements (7 July and 12 August 2025), without material change to the objective.
  • 2nd Service Agreement (25 July 2025): AI Nova will supply cloud, maintenance, and support services to a third-party customer, indicating early commercial traction for its new business model.
  • Corporate Guarantee (2 September 2025): The parent company has issued a continuing guarantee in favor of the service provider, securing obligations under all above-mentioned contracts. This exposes NutryFarm to contingent liabilities, which could be material if the new ventures do not perform as expected.

2. Update on Memorandum of Understanding (MOU) and New Partnership

• The prior MOU between AI Nova and IJM RE expired on 20 June 2025. It has been superseded by a new MOU (17 September 2025) between AI Nova Sdn Bhd (Malaysia AI Nova) and Asas Panorama Sdn Bhd (APSB).
• APSB is a joint venture:
  • 60% held by IJM Land Berhad
  • 40% by Beibu Gulf Holding (Hong Kong) Co., Ltd via Sino Development Ventures Limited

  This new partnership could open up regional expansion opportunities and may be crucial for AI Nova’s growth trajectory.

3. Judicial Management: Eighth Extension Application Filed

• NutryFarm has been under the Judicial Management Order since June 2022, with multiple extensions granted as the Company seeks to restructure and stabilize its operations.
• The latest (Eighth) Extension Application was filed on 16 October 2025, seeking to extend judicial management by three more months to 2 February 2026. A hearing is scheduled for 29 October 2025.
• The continuing need for judicial management extensions highlights the Company’s ongoing financial distress and restructuring efforts, which remain unresolved.

4. Trading Status and Shareholder Advisory

• Trading in NutryFarm’s shares remains suspended since 11 April 2022. Shareholders are cautioned against any action on their holdings while the Company is under judicial management and exploring new business directions.
• The Company underscores that material developments will be announced via SGXNET. Shareholders and prospective investors are urged to stay vigilant, as the Company’s financial recovery and new business ventures carry both significant risk and potential upside.

Investor Takeaway: Key Price-Sensitive Issues

• New Business Ventures: The pivot to AI, cloud computing, and telecommunications services could be transformative if commercially successful. However, these high-tech ventures are capital-intensive and competitive.
• Corporate Guarantees: Issuance of a continuing guarantee for new service contracts introduces additional risk to the parent Company’s balance sheet.
• Judicial Management Extensions: Ongoing restructuring signals unresolved financial challenges. The outcome of the Eighth Extension Application will be closely watched by stakeholders.
• Suspended Trading: Share liquidity is frozen, and any positive or negative material developments upon resumption could lead to significant share price volatility.
• Potential for Regional Expansion: The new MOU with APSB may signal cross-border ambitions for the AI Nova business, which could be a future growth catalyst.

Shareholders and investors should monitor upcoming SGXNET updates for the result of the judicial management hearing and progress on AI Nova’s commercial activities, as either could have a profound impact on NutryFarm’s share value when trading resumes.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult professional advisors before making investment decisions, especially given the Company’s ongoing judicial management and business restructuring.

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