Does this mean that they have made a bobo in the filing, or that other investors in Tri-Way now owes SIAF money? *confused*
Sorry if it's a stupid question, but the filing states that "On May 30, 2017, the Company converted partial of amount due from unconsolidated equity investee of $ 40,788,256 as investment. As a result, SIAF’s equity interest in TRW increased from 23.89% to 36.60%", but the filing also states that accounts receivable for CA as of Q2/17 is 45MUSD and that (under "Due to a director") Tri-Way's share of this is 21MUSD. What happened to the other 24MUSD of CA's accounts receivable?
For Q1/17 the accounts receivable for CA was 45MUSD (15.7MUSD 31-90 days, 24.1MUSD 91-120 days and 24.1MUSD over 120 days) whereof Tri-Way's share was 21MUSD. For Q4/16 accounts receivable for CA was 39.9MUSD, but Tri-Way doesn't show up in "due to director".
So, from the filing, I read that at the end of Q2/17 we have;
1) "Accounts receivable" for CA at 45MUSD
2) Of which Tri-Way owes 21MUSD
3) In addition Tri-Way owes "interest in unconsolidated equity investee" 14.4MUSD (this is where we increased our 23.80% to 36.6%)
So Tri-Way owes SIAF 21+14.4=36.6MUSD and then there's someone owing SIAF 23MUSD for CA. Eh?
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