Sino Agro Food Inc (fka SIAF)

[ks1977]

There is of course a risk they backtrack on the cash dividend but after declaring it that would be very unusual and signal the end of the company as investible

I think all hell will break loose if they backtrack the cash dividend. They might delay it or mess it up of course, but they can't cancel it - both Nisse and Dan would be in serious trouble if they do... In my view they couldn't base the cash dividend policy (with target cash dividend in Q4) on a loan or whatever, but they for sure could base it on AR due from TRW in Q4.

At 40c I figure you get a 15c dividend in just over a year plus the TRW dividend, which the market clearly is not valuing at much today, but should be tradable for at least 10c

10c for TRW would indicate a PE of 1 so the discounts in SIAF is HUGE. When I said that I didn't really want the shares I bought today then what I were referring to is that I already have enough SIAF-shares (and then some)

I get that people aren't too happy about waiting for TRW to be listed, and I would like a partial exit myself, but at the current PPS another 2-3 year for the motherload (i.e for TRW to list at HKSE or elsewhere) shouldn't be a major issue - assuming that one believes in TRW at least getting a PE of 1-3...