Sino Agro Food Inc (fka SIAF)

[treit2002]

Viking,

In the case of the 2nd FF (fish/eel farm in Jiangman City, Guangdong), it's even more interesting. The 2-phase contract was signed on May 18, 2011 and construction of Phase 1 involving 16 APM and ancillary facilities is still underway and to be completed by Dec'12. As of Dec 31, 2011, $5.86m invoices were billed out of a total Phase 1 contract value of $10.4m

Do you have any idea why FF2 takes so long? From your quote above, SIAF will bill only about $1M/quarter every quarter in 2012 for construction.

In extreme contrast, the baby prawn farm contract is for about twice as much money, and sales began in less than 6 months from construction commencement.

In other words, both the construction times and ramp up of actual fish sales are very different for each farm.

Perhaps, this is because of differences in the construction, depending on what is to be stocked, but it would be nice to know a baseline expectation for quarterly construction billings, as well as sales ramp ups for each.