Sino Agro Food Inc (fka SIAF)

[RealDutch]

They must have low construction costs and low cost of operation to make it profitable.

This is how I see a perfect scenario unfold.

Spin off 25%. Use the other 25% as collateral for a $50M loan. Either with the Asian bank, or Garrett could do it. Invest it in Triway at 2xNTA, increasing SIAF's stake by 10%.

(The plan right now is to construct 6 buildings every year. From currently 1. At a cost of roughly $40M for every 3 buildings.)

Use the $50M to construct 3 buildings in one year. That's a tripling of the growth rate. They can't go from 1 to 6 overnight anyway.

A year from now, when the pre-IPO is fully subscribed, take back the $55M that Triway owes SIAF. Pay off the loan. Spin off another 25%. Double the pace of construction.

So I think this is a good plan. Or, we could still struggle to get the first pre-IPO 6 months from now.