To be one of the best quality producers of the country, (dedicating to produce organic produces and products), but not necessary to be the biggest.
Sino Agro Food, Inc. (SIAF) is an agricultural business focused on developing, producing and distributing high margin agricultural products in the People’s Republic of China.
In P.R.C. the rapid progress of industrialization of the last decade has unbalanced the needs of developments and activities of the agriculture industry, (i.e. diminishing of agriculture land, scarcity of farm laborers, industrial pollution and the generally over usage of chemical etc.). Therefore the P.R.C. Government has in recent years directed many incentive schemes and policies with the aim to revitalize and to modernize its agriculture industry. (i.e. Protection of agriculture land, stringent laws in governing the ownership and usage of agriculture land, tax free incentive applying to incomes generated from the industry and enforcing environmental friendly developments etc.)Management of the Company has many years of practical and professional experience in various and many sectors of the agriculture industry and decided in year 2004 that it was the right timing and there would be many opportunities available to develop agricultural ventures in P.R.C.
The Company intends to focus on meeting the increasing demand of China’s rising middle class for gourmet and high quality food. Current lines of business include fisheries, dairies, and agricultural production of capers and sod with the direct association of modern fishery and cultivation technologies.
Equity Reports:
Small Cap Voice Equity Report
Microcap Alliance Research Report
Contact Information:
Phone: 6012-2004963
Fax: 86-20-22057863
E-mail: info@siafchina.com, leesyk@gmail.com
Company Officers and Directors:
Mr. Lee Yip Kun Solomon
Chairman and Chief Executive Officer A Pioneer of Modern Fishery Projects in the South Pacific Region, who has over 35 years experience in the Fishery Industry and Food Industry created various sizable projects in the Asian region. Chairman and Chief Executive Officer
Mr. Zeng Shao Quan
Executive Director has extensive knowledge in China businesses and affairs, is responsible for the Company’s operation in China. Mr. Zeng was director in 7817 Ship Building Co., Prosper FarEast Co. Ltd. (a PLC listed in HKSE).
Mr. Tan Poay Teik (Peter)
Executive Director has 28 years of experience in the food Industry and has much practical experience in accounting, strategic planning, merger and joint venture matters and financial management having held directorship in several private limited and public listed companies.
Mr. Chen Bor Hann Michael
Manager of Fishery Director and Company secretary of SIAF. 13 years of experience in the Fishery Industry, one of the pioneers of CA and RAS Projects in Asia.
Mr. Sun Xi Min
He is the manager of ZX and a Director of APWA, the pioneer of ZX, a member of the Government Committee of Fengning, Vice Chairman of Chamber of Commerce Beijing, and Chairman of Pioneer of the Agriculture Enterprises China. Mr Sun services as an Agriculture Industrial Consultant of the Company since November 2005 responsible for business and market development in P.R.C.
360 Main Street, P.O. Box 393, Washington, VA22747
Tel. 540-675-3149
Fax 540-675-3369
www.belmontpartners.net
Share Structure as of 02/03/2009
Authorized Shares 100,000,000
Total Issued and Outstanding 52,943,579
Total Restricted Shares 48,949,222
Free Trading Float 3,994,357
Type of Issue Units
New shares to existing public shareholders 139,000
New shares to debenture holders 10,804,579
New shares issued to CA shareholders 32,000,000
New shares issued to Tri-Way shareholders 1,000,000
New shares issued to MEiji shareholders 2,000,000
New shares issued to HYT shareholders 7,000,000
Total 52,943,579
Acquisition History
Acquisition of 100% equity of CA effective on July 24, 2007 for the purchase price of US$19,707,157 satisfied by the issuance of 32,000,000 SIAF shares valued at US$19,707,157 or US$ 0.6158 per share each in exchange for CA valued at US$29,373,482 on a net total assets (“NTA”) basis;
Acquisition of 100% equity of Meiji effective on September, 5 2007 for the purchase price of US$ 6,675,000 satisfied by the issuance of 2,000,000 SIAF shares valued at US$ 4,675,000 or US$ 2.3375 per share and the balance of US$ 2,000,000 paid in cash in consideration of MEiji’s 75% investment in its subsidiary, Hang Sing Tai Agriculture Development Co. Ltd, valued at its NTA value at agreed balance date plus Inherent Surpluses of US$ 1,887,097 being the value of leasehold land (pending independent valuation report by a licensed valuer) included in the Purchase Price but not yet accounted for in the balance sheet as at December 31, 2007, which the directors have approved by a Board resolution will be accounted for as a revaluation surplus in the 2008 balance sheet
Acquisition of 100% equity of HYT effective on September, 5 2007 for the purchase price of US$ 26,910,000 satisfied by the issuance of 7,000,000 SIAF shares valued at US$16,910,000 or US$ 2.4157 per share and the balance of US$ 10,000,000 paid in cash in consideration for HYT’s 78% investment in its subsidiary, ZX, valued at its NTA value at agreed balance date plus Inherent Surpluses of US$ 40,317,033 being the value of leasehold land (pending independent valuation report by a licensed valuer) included in the Purchase Price but not yet accounted for in the balance sheet as at December 31, 2007, which the directors have approved by a Board resolution will be accounted for as a revaluation surplus in the 2008 balance sheet); and
Acquisition of 100% equity of Tri-Way effective on September 5 2007 for the purchase price of US$ 3,250,000 satisfied by the issuance of 1,000,000 SIAF shares valued at US$ 2,250,000 or US$ 2.25 per share and the balance of US$ 1,000,000 paid in cash in consideration for its 30% investment in its associate, Hunan TianQuan Science & Technology Development Co. Ltd, valued at its NTA value at agreed balance date plus Inherent Surpluses of US$ 348387 being the value of leasehold land (pending independent valuation report by a licensed valuer) included in the Purchase Price but not yet accounted for in the balance sheet as at December 31, 2007, which the directors have approved by a Board resolution will be accounted for as a revaluation surplus in the 2008 balance sheet).
Company Financial Summary for 2008
Company financial information available on pinksheets.com. Numbers are un-audited and may change slightly, company currently undergoing audit for previous 3 years by Madsen and Associates, a PCAOB registered accounting firm (http://www.pcaob.org).
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