Nef; Yes, that is what Zero claims.
I can't remember to have seen a shred of evidence, or any reasonable argument for that claim though, even though I have confronted the claim several times with the FACT that TRW is an independent company (registered in HK) with a significant "paid in capital" (to which one might argue over whether that value is on the target or not) and that SIAF owns 36.6% of TRW - all this is PUBLIC/OFFICIAL information.
This doesn't mean that SIAF cannot be a fraud, but if one wants to claim so then one at least should put out some facts and reasonable arguments to why this 36.6% of TRW is worthless.