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I can't seem to wrap my head around Triway's numbers since 2017.
Net income from Triway to SIAF in 2017 was 12 781 924 $, however as NI for Nine months ended 2017 was only 5 452 523, NI for Q4 2017 must have been 7 329 401? Is that correct? How come?
Considering Triways performance last quarters and based on info in this Q report I guess we will be looking at some growth QonQ for Q4 but still year on year we'll have a sharp decrease in NI from Triway. What am I missing?
Thanks
Does anyone have a say five year overview of Triway/the Aquaculture assets performance they can share? Including revenue and margins?
Thanks
Heard someone mentioning Erik Ahl has quit, is that true?
Anyone know anything reg. the 2017 AGM that was gonna be held in Dec?
From reading the report i think they stated the same thing for both the cattle business, fertiliser and the plantation - that capex is on hold until these units have implemented necessary strategies for long term profitable growth.
Though it's a tad bit late, considering developing and holding on to them in this market environment..
We'll, we all know Solomons investment horizon. Having no doubt they are working hard on the coso strategy, this play is for the long haul. A lot of wrong decisions had been made, which we as shareholders have paid for, but either you believe that the dividend of Triway shares will happen and within a reasonable time frame together with an ipo after some time, or you don't. I'm in it for that and considering the current and future value of that unit, I will continue to add at these levels.
Br
Trade Facility A
There were 1,462,880 shares issued at face value of $18,286,000 (or, $12.50 / share) with a drawdown maximum of 75%, or $13,714,500, as co-signor on behalf of Virgo (Shanghai), wherein Virgo is the party responsible to repay the principal and loan cost at maturity (3-years). No annual interest is incurred on outstanding principal; instead, upon repayment, the Facility Provider will return all collateral shares back to the Company with a one-time charge equivalent to the number of collateral shares multiplied by 20% of the (3-day average) prevailing market price of SIAF shares, at that time.
The last sentences means that Siaf gains on a low share price at repayment?
How many has been appointed?
Someone has an audio file available for the CC?
And that's before a hopefully successful ipo at relevant P/E ratio:)
Thus meaning approximately 50 % for us from Siafa stake of 36,6 % ~ , 18 %.
As Peter said, the value after Pre ipo investors at 150 musd will be 7 $/Share for Siaf, meaning 3,5 $ ish/share for us, what's its trading atm roughly, shiet!:)
GueS I'm wrong, what does retained interest mean again?
Should I understand it as Peter (IR) indicate a 50 % dividend payout of triway shares to Siaf Shareholders based on the ownership of 36,6 %? If so, valuation is properly rediculous atm
Read this in a mutual fund comment about China:
Read the following in a mutual fund comment reg China:
In China, Q3 GDP growth numbers were in in line with expectations at 6.7 percent YoY. The release confirmed that the transition of the economy is still on the right track. YTD final consumption contributed to approximately 71% of growth compared with approximately 42 percent for the same period last year.
Can the pace of change really be that quick? Good nonetheless
Anyone know what the boards pay of shares is based on? Obviously they got a way bigger chunk this year probably meaning that it should correspond to a certain amount of cash? Increase can't be that much based on disappointing results?
I think it should be asked on the cc what their take on Shareholder value is - Solomon often spoke about book value per share as an important metric, I'd say that if that is mentioned again as important it's a fucking steal from the board based on what those shares are worth book value per share.
It certainly feels as if it is okay for them to see share price as important in setting their own pay, while obviously it doesn't count elsewhere.. Why also the buy back question is important as IRR would be great, but somehow their conception of shareholder value is just unreal based on their prioritisations.
Anyone know if their pay is reasonable based on peer review/other companies? Can't look into it now
Yep, different companies in Nordnet Pension and Bank
Agree with it being great news, even though it might mean spinning of a part from the mega farm early on, which could have been a smaller part later on if other spin offs would've come first, but this is good news.
And so the waiting game continues, within a year is agreed optimistic.. Though I believe patience is a virtue and Siaf will happen eventually
What about CTM, how do they fit into the picture based on what could be read in that report?
That is plain wrong. You think it would be that easy to trick the system? It's not.
Is that full page review longer in the actual paper than on their website?
Whats the RSI-level at? Or is that metric useless in these situations?
Of course Solomon will use it all, sure have more trust in what FD says reg. this than what Solly says to shareholders in cc. Guess we can hope though:)
Eaglecheck explain to me please how you reached that conclusion?
Fredrik was calm, thorough and extremely sharp.
He said over a thousand hours and based on the dd he explained having performed, I believe him.
Well that's not true now is it, you might have quite a chunk of swedes in this play, but far from all. As long As we're on the otc it'll be pretty much the same, many I speak to need the listing to get on board
Jesus, people are really upset over this. Calm down, manual handling, weekends, whatever the reason might be, these things can take an extra couple of days...
What does OCLS do?
How do you come over all of these articles? Do u just scan the net? Or do u use a special tool for collecting such information and articles?
Why I ask is because I'm gonna start writing a sustainable finance blog where I work and I'm thinking of trying some tools in order for me to easier find information on the subject
/R
Reflections of CC
Solomon speaks of being granted a "sizeable" piece of land between Zhongshan, Hongkong and Macau to build prawn farms 3, 4 , 5, 6 etc, one after the other. Guess he's referring to the Mega farm here?
Think it's in the report, but having KPMG Norway- and China performing financial dd on SIAF feels good. It'll add to credibility having KPMG involved. Perhaps we'll have that big four auditor on the whole of SIAF within some years.
Book value, or stockholder's equity, increased with 36 %. This is good, even though I'm not very familiar with how investor's in general use this metric. Some might say that a hefty discount is in place due to operations being in China, but that risk decreases day by day I believe as the company continues to grow and have closer ties to the government, and China moves more and more towards market economy. Anyone who wanna shed som light on this, book value valuation I mean, would be much appreciated.
Bertil will work on gearing as the balance sheet has considerable room for this, not that we didn't know this already, but still good to hear that focus.
Bertils trusted friend working at Enhancer (http://www.enhancer.se/en/), Executive advisors was "extremely impressed with the quality of management". Also said they display as high a level as management in Swedish listed organizations do. Really important stuff and I believe that study that was made will be very important for instis.
Someone understood Bertils reference to the Swedish embassy's report on the company as a source for Bertils own dd before joining? Feels good having them perform a report on the company as well. No red flags were found there either. Adds to credibility.
The M&A activity for SJAP, wild speculation, but it would be awesome if SJAP, being a "Dragon head" company, could get a specific loan from say China Agricultural bank for this specifically.
Finally, I think reg. the one hour call, and that the lady leading the call said "that was our last question", I just believe she used the wrong wordings here as she needed to hand over to Solomon either way.
My two cents.
/R
Yung, it's you and me then, bought the first time in 2012, I'm also 24:)
Welcome!
Not all that familiar with when insiders in general are prevented from buying, but what about the ongoing m&a activity for SJAP? Couldn't that be a reason for not buying?
I would imagine salary expenses to be immensely higher. Young swedes go to Norway for work, some in the fish industry which pays very well. So my conclusion is that construction along with normal salaries would be much more expensive.
I see this as one part of the competitive advantage, the ability to attract very cheap labour with high work ethics
They use both sand filters and uv filters which kills bacteria I imagine
Someone thought about the idea to structure the equity stake in the mega farm through a "green bond" targeted at institutions?
Not sure if there are certain demands having to be fulfilled to call something a green bond, but sure would have a nice ring to it.
"Alongside the already common renewable energy- and green housing sectors of green bonds, SIAF is now broadening the scope of this already immensely growing green bonds market with what is to become the largest project in the world for sustainable aquaculture and hydroponics produce, using partly renewable energy sources to cover its energy needs."
Could it be that they cant disclose say the import contract, the new loans and the advisory firms in pr's due to the ongoing discussions of acquiring a SOE to solve the situation at SJAP reg. not enough skilled workers?
Asking again, ownership in sjap, it's says we own 45 % of SJAP right? Or where's the discussion coming from that we might own more? Says our equity stake is 45 % and equity of non-controlling interest is 55 % in the report
It's clear by now that we own 45 % of SJAP right? Or where's the discussion coming from that we might own more? Says equity of non-controlling interest is 55 % in the report
http://analystgroup.se
Check ag portfolio, they got Siaf there. Guess it's good even though they probably got low reach in Sweden, ag is growing which is good as they intend to increase coverage and reach
Came across an old reference I used in a thesis on sustainable mutual fund investments.
Very interesting indeed.
RE:THINKING CONSUMPTION, Consumers and the Future of Sustainability by BBMG, GlobeScan & SustainAbility (2012) http://www.globescan.com/component/edocman/?task=document.viewdoc&id=51&Itemid=0 reg. consumer preferences is really interesting, following is mentioned on China:
New Demands and Opportunities in Emerging Markets.
Consumers in developing markets (Brazil, China, India) are more than twice as likely as their counterparts in developed markets (Germany, United Kingdom, United States) to report that they purchase products because of environmental and social benefits (51% to 22%), are willing to pay more for sustainable products (60% to 26%) and encourage others to buy from companies that are socially and environmentally responsible (70% to 34%).
Aspirationals Offer Key to Sustainable Consumption.
Importantly, the largest consumer segment, the Aspirationals, is seeking both sustainability and consumption. They are looking for brands to provide solutions that both improve their lives and serve the larger society. And, because they are trendsetters in emerging markets like China and India, we believe business has the opportunity to shape a new consumerism by meeting their aspirations and desires with more sustainable products and lifestyle choices. China has the most Aspirational consumers, with more than half (53%) falling in this category.
As the largest consumer segment in Brazil, China and India, Aspirationals represent hundreds of millions of consumers – growing to perhaps billions by 2050. And we believe that any forward-thinking brand should prioritize reaching them to redefine value, earn their trust and inspire them to lead their peers.
This is absolutely spot on for SIAF. The fact that they have started talking about e-commerce and selling food online is to me huge over the long-run. I am absolutely sure this is very the future lies.
What do you think?
Does any one remember what the company has said about getting paid a premium for its products due to being organic? Or is SIAF expecting to reach such a premium through market recognition? Can't remember what has been said, though i remember FD said the company's products are in high demand this last PM.
In light of the recent environmental deal between China and the US, which cómpanies do you Think stand to prosper the most on this?
I'm thus interested in finding the companies which, for the long-term, have the best opportunity to tap into this growth.
Not having read the possible documents on this deal fully, we all know of the huge environmental problems/challenges China is facing, and we also know that when China decides upon something, they act all out. This is why I see great opportunities ahead for environmentally/sustainability focused companies with China as its primary focus.
Have any suggestions?