Sino Agro Food Inc (fka SIAF)

[RealDutch]

Here a little history, which I found in the 2014 10-K. It's definitely in Shenwan. The remaining question is, where is FF2 located? It should not be in Shenwan when you check the contract or the filings.

The matter for CA’s purchase of the Land Used Right for a block of 235 Mu (or 38.5 acres) located at Cong Hua District Guangzhou City in late October 2010 (The Cong Hua Land);



(1) The “Cong Hua land” is part of a larger block of land (of some 500 acres) which is under a subdivision application. However in 2011, the Land Law changed such that the said sub-division now required the approval of the Central Government in Beijing, which means the approval process was lengthened. Cong Hua District was rezoned as a suburb of the Guangzhou City in 2010 within close proximity of Guangzhou City. Management considers it as a valuable piece of land very suitable for the development of one of our agriculture projects. Our agreement with the vendor requires that it use its best efforts to speed up the said subdivision’s approval on or before June 30 2014, failing which they would replace the said land with another block of land to our satisfaction. In lieu of the land swap arrangement just mentioned, the Company has negotiated with the vendor to be compensated $1 million since the Central Government approval remained pending as of September 30, 2014, which was scheduled to be paid on or before December 31, 2014.


(2) Just before the end of the year 2014, the vendor provided an alternative land of 202 Mu (or 33.5 acres) located at Da San Dui Wei, You Nan Village, Shen Wan Town, Zhongshan City (Zhongshan Land) to replace the said 235 Mu land at Cong Hua District at an amount of US$4,453,665 (or RMB27,989,606) that was accepted by the Company. In this respect the amount of US$4,453,665 owed by the Vendor due to the delay in delivering the said Land Used Right to CA on “The Cong Hua land” has been paid fully by the delivery of “The Zhongshan land”.