Replies to post #125840 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

Can it be that SIAF didn't claim the right to convert the deposit into equity in time?

Sure. Or they didn't make enough deposits in a timely manner. My sense has always been, if the partner doesn't want SIAF to acquire the farm then they can extend/delay it for many years. And Gao, is different from the other partners. He already has his own farm. He's already making money. So he may not want to play ball. Which is probably the reason why he didn't join TRW. All the other partners want the COSO, they all need money like SIAF.

OTOH, it's true. FF2 may not be suitable for ODRAS. Who knows. So I just say, get the $6M back then. What are they waiting for? And we all happily go our separate ways.

He did state that it (fish pond and/or FF2) wasn't suitable for ODRAS. However, this can be an excuse to explain why they have to sell the project if it is owned illegally by CA (i.e the fish pond?)

Eh, I don't think so. They simply have to transfer it to a subsidiary.

[RealDutch]

BTW, it can be a real mess in China, with land use rights.

SCEI built a plant on property they owned. But years later they still hadn't received the legal documents. And then the party holding the documents went bankrupt. Guess what? SCEI lost everything they had built on that property. Well, they had to go to court to claim it was theirs. In the mean time they had to shut down operations completely.

Not sure what became of it. The company decided to go dark. And now the shareholders are all over them, and want to liquidate the company.

So it's not just a matter of being a fraud or not, although SCEI could be. Things are a bit more complicated.

This could happen to SIAF any day of the week, for the $18M fish pond. The good thing is, the MF partner and the other partners should have things in order at least.

[The Swede]

They where hoping to be able to sell the swampy area that is not suitable for fish ponds to someone who want to develop the area to industry area, good luck with that :-)