dutchman - if they can't get a reputable investment bank to even cover the operating company - much less this IR firm who seems famous for repping penny stocks - how do you think they can talk a morgan stanley or an ICBC or anyone else for that matter into repping for them in spinning a subsidiary.
guessing nobody is willing to touch this thing because it's massively INBRED already and only more INBRED without saying much more....
you cannot pay a reputable bank to represent something that's this massively conflicted in every conceivable way.
raising 150MMUSD equivalent in HK is in fact a challenge. they always go to the USA for anything above 25MM and after all the crap that's transpired, SIAF is kind of a pariah in America so it seems they will not raise funds at all.
reality is you can't pay a reputable auditor to write a good report. the report is what it is and it is massively INBRED with zero possibility of representative independence.
without those fees that SIAF keeps shuffling around and effectively paying to itself not to mention the unaudited "enterprise value" from the pumped up CJV construction deals - they don't appear to have any enterprise value either.
basically the whole company earnings PHANTASY falls apart when they try to spin things off because they can't pay themselves anymore and call it income.
it's also why Swedbank's estimates are only 33% of your own estimates - and those estimates are almost certainly on the high side of stoned.
need to get some sleep now - have fun with your prawn and fish tank -
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