Sino Agro Food Inc (fka SIAF)

[HighYield1]

Carog, now you are giving me too much flatter. Good work in pushing Solomon to what has been done so far with the Aqua spin-off. So far it just seems to be planning. Interesting though, the plan is that Triway should hold 100 % of the prawn farms and the Chinese business men will instead own 25% of Triway.

To mee, the most positive information from the CC was the construction cost for PF4 of 240 MUSD (60 000 tons) including 6 month credit after each module (10 000 tons) has been completed. PF3 is estimated to cost about 180 MUSD with a capacity of 10 000 tons. However, that part included a lot of landscaping of the area.

Another positive piece of information was the planned listing of SJAP in Q4 this year. Peer Group valuation indicate a higher value of SJAP than today's total value of SIAF.

Bad News was initial stocking problems due to water temprature at PF3 and no firm evidence of the progress of the Aqua listing and no time table.