If reports for 2007-2012 don't include information about this "debt" to the directors, it should be in the list. I don't know if this cames as a surprice or was expected all the time.
Stuff like this needs to be booked year by year, if not, any CEO can claim to have right to print shares to compensate for previous years.
At least now we all know the CEO has $ 336.000 salary + $ 336.000 in shares (where # of shares are adjusted to reach this value). That's 672.000 in total.
Ok, I'm finished with this perspective now (but anyone, pls feel free to check with Nisse! For sure interesting to know that it's formally approved or not). The auditor SIAF is using, I don't feel convinced about at all I'm afraid.
Currently Im checking CV/track record. Both Salmon and Chen came from Irama Edaran Sdn. Bhd. Do we know anything about this company and their (past) performance?
For me, SIAF is all about the aqua value (might be substancial other value, but I am not competent to consider those parts). Yes, TRW has to be financed and upscaled, but both Tony and Ravidran are impressive people they have successfully attracted.
If/when the loan to TRW happenes, we much carefully look where the money goes. If we do not get dividends because it all "disappears" in the SIAF balance, I'm done with SIAF. Look out for excuses!
