Inlägg märkta ‘Sino Agro Food’

Solomon Meeting Part 2 Beef

lördag, 9 september, 2017

SIAFs beef business is difficult because it is capital intensive. They are waiting for a government plan. Solomon does not want to do capex.

Solomon sees canned beef value added products as the future if the government can’t come up with a good plan. Solomon is sure canned beef is the future because there is still not a single big brand of canned beef in China.

They might have a solution with the government before the end of year.

Lots of countries have entered the beef market in China, around 12 countries. US entry of China beef market is extra troublesome for SIAF since the US has high quality meat and SIAF also have high quality meat, i.e. the US imports pushes down the prices that SIAF would receive – making SIAF take a hit again (before it was Australian lower quality meat that made them take a hit).

One problem with the cattle business is that it is difficult to make big changes since it is a capital intensive multi year process (especially when changing to higher quality beef like SIAF did last time). In the fish business it is easy to make quick changes.

General comment about land value, not only about beef business: It is complicated to realize book value from land, and cannot sell agricultural land.  Some land that they have built on also have mortgages.

P.S. The best parts of the meeting was about Tri-way and Capital Award. In the first two parts I cover the HU flowers and beef business and save the best bits for later.

RealDutch mötessammanfattning

fredag, 8 september, 2017

ReadlDutchs mötessammanfattning från ett möte med Solomon kan ni läsa här. Jag tror det är uppgifter som RD fått från nån annan som varit på mötet. Jag vet inte säkert om det är samma möte som jag deltog i eftersom Solomon hållit några styck möten senaste tiden.

Solomon Meeting Part 1 HU Flowers

fredag, 8 september, 2017

2017-09-06 there was a meeting with Solomon which I attended along with a couple of other shareholders. I was not there the whole meeting since I had to catch a train but I will summarize a little bit what the talks were about. I will cover one subsidiary or business type per blog post with the other blog posts being released during the coming days.

Please note that I do not guarantee the correctness of the information. It is only my interpretation of what was said and of course I write as correctly as I can but I do not have time to double check any information.

The best parts of the meeting was about Tri-way and Capital Award. In the first two parts I cover the HU flowers and beef business and save the best bits for later.

Purpose of Solomons visit (disputed, other people claim different main reasons for the visit)

Solomon was in Scandinavia mainly to meet with Marius Gaard, Swedbank analyst who wrote about SIAF before if I remember correctly. SOlomon had hopes that he might write another analysis of the company. However Marius Gaard is no longer an analyst, so it is not certain there will be any analysis. I think Marius is now in corporate finance.

HU Plantation

There has been no improvement at the HU plantation. There has been wet weather many years which is bad for the root systems of the HU flower plants. They will have to move to a better location in order to grow HU flowers because the current place is not suitable. Solomon believed in the profitability of HU flowers though. Eventually they will have to change to some kind of cash crop. Before they tried asparagus but it was not profitable since the asparagus were too thin. They are now trying 20 acres of passion fruit which looks promising.


Sammanfattning Q&A med Solomon

torsdag, 7 september, 2017

C-MF har på iHub sammanfattat gårdagens möte med Solomon.


Del ett.

Del två.

Jag kommer att publicera mina egna betraktelser från mötet i en serie bloggposter de kommande dagarna med start imorgon kl. 08.00.

SIAF konferenssamtal Q2

fredag, 1 september, 2017

Här kan ni lyssna på SIAFs konferenssamtal för Q2. Jag har inte lyssnat, tänkte göra det i helgen antagligen. Av vad jag läst från forumkommentarer verkar det vara:

  • Medioker ljudkvalitet på inspelningen.
  • Potentiellt nytt projekt på ingång för Capital Award senare i år.
  • Det blir ingen kontantutdelning nu om nu nån förväntade sig det. Anledningen dem angav är att dem inte har stabila kassaflöden.
  • Inget nytt vad gäller Tri-way, den utdragna processen fortsätter med utdelningen.
  • Förväntat bättre resultat resten av 2017 jämfört med Q2.

Ovan summering är snabbt skriven utan att dubbelkolla så noga så ni får ta den för vad den är.

SIAF: Nya Tri-way-dokument tillgängliga

måndag, 28 augusti, 2017

Nya Tri-way-dokument finns nu tillgängliga. Läs dem här. Jag tror det mest handlar om att SIAF nu fått alla sina aktier tilldelade i Tri-way.

SIAFs hela andel i Tri-way registrerad

måndag, 21 augusti, 2017

SIAF äger nu officiellt 33,6% av Tri-way. Bra att det kommer mer frekventa uppdateringar nu.

Tri-way Industries Ltd. Completes Share Registration
Aug 21, 2017

GUANGZHOU, China– Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME), a specialized investment company focused on protein food including seafood and cattle, is pleased to announce that its former subsidiary, Tri-way Industries (“TW”), in which Sino Agro Food, Inc. holds a 36.6% ownership interest, has completed registration of its shares.

As anticipated in the Company PR issued August 17, 2017, shares of Tri-way Industries Ltd. have been officially registered with the Hong Kong Company Registrar. Sino Agro Food’s (“SIAF”) 36.6% holding in Tri-way is now secured.

Tri-way will continue to provide updates on its progress, as they materialize.

SIAF nyhet, små steg framåt angående utdelningen

torsdag, 17 augusti, 2017

Det tas små steg på vägen mot att dela ut Tri-way enligt den här uppdateringen som släpptes idag. Som aktieägare vill man gärna veta att processen lever när den drar ut på tiden så detta är bra att veta.

Man kan fråga sig hur mycket SIAFs ledning hade rökt på när dem skrev att utdelningen skulle vara klar slutet av juli tidigare. Det lär ju dröja månader innan detta är klart.

För övrigt har George Yap slutat i styrelsen hos SIAF. Anledningen vet jag inte.

SIAF rapport pressrelease och uppdaterad hemsida med video

måndag, 14 augusti, 2017

SIAF släppte idag pressreleasen på Q2-rapporten. Det är ganska rörigt alltihop så jag avstår från att skriva nåt särskilt om det hela. Svårbedömt läge. Det är svårt för mig att skaffa mig en bild över förväntade kassaflöden för SIAF det kommande halvåret.

SIAF har uppdaterat sin hemsida med information om de nya fiskarterna dem odlar och dessutom en video.

Mailsvar från Tony

söndag, 13 augusti, 2017

Här är ett mailsvar från Tony till Skribenten Strindberg angående megafarmens prestationer.

As Solomon indicated in the last CC, there has been ongoing renovations (at AF2 & AF3) and changes in plans (AF1 switching to conducting some R&D) that have affected recent production at these facilities. At AF4, simply put, in my view, our expectations on the speed of financing have not met our timing of projections. Without a critical mass of funding, it is difficult to ramp up production. So the timing of renovations, etc. with the inability to ramp up AF4 as expected have caused a lull in production. At the same time, Solomon is orchestrating a very complex consolidation between Chinese, Hong Kong, and US interests. Nevertheless, Solomon does have many contingencies available to him through his various partnerships to fill gaps in production to carry us until such time funding arises. AF1 & AF2 will soon resume full scale production, and AF3 with increased activity.

My optimism stems from the potential of the biology and markets I see here in China. It also stems from my participation with institutional lenders and other large investors and their positive responses to our vision. The funding delays, in my opinion, seem to be more administrative since many reports and documentation are required and due diligence is extremely intensive due to the large amount of funding being sought. I know of no other aquaculture venture in my years that has been so ambitious, so I expect scrutiny to be high and prudent delays to occur.

Having said all that, I do expect many challenges moving forward, none unsurmountable, but challenging nevertheless.