Sino Agro Food Inc (fka SIAF)

[RealDutch]

But they can use their share of profits from sale of fish (after completion of the fish farm) and increase equity.

CA was responsible for resale at 15% gross margin before the carve-out. Yes, they could have used that money to increase their stake in the fish farms. But they spent most of it on SJAP (abattoir) and HSA instead.

Anyway, sales belongs to TRW now. Not CA.

As for the Angolian farm, SIAF will probably keep their options open and may acquire a small interest (at cost). But we shouldn't expect this to happen.