I think it's a moot point to try to tell if some one is Malaysian or Chinese just by looking at names. Chinese descendants make up about 1/4 to 1/3 of the malaysian population. Many malaysians have chinese names and many chinese have relatives and families living in Malaysia. It appears however that many of SIAF's top mgmt have lived and worked in Malaysia, esp. the fish group.
Re: land usage costs, I ran across the following for CHBU, a fertilizer producer.
CHBU arranged in 2009 to purchase land use rights in Lantian County for 66 acres for a period of 30 yrs. for $4.6 mil (including relocation costs of local dwellers)to create an Industrial Zone.
Also CHBU is renting 8 acres in Xi'an for 21 yrs to create a production facility. Rent is $55,000/yr for the first 10 yrs and thereafter will increase 12% every three yrs.
those are all good questions. U should ask Solomon during the earnings call.
* According to page 29, some of the land use rights bought are incredibly expensive. For example SIAF bought 58 acres in guangdong for 7,042,831 USD. This means a cost of 120 000 USD per Acre!! No farmland in Sweden is that expensive, perhaps you can find those prices in stockholm city. Something must be seriously wrong with that information. Has anyone else further info on this?
* Why has Solomon and Management issued B-shares to themselves that are more senior to common shares in case of a bankcruptcy and without any dividend rights? This does not signal confidence in their own operations. Has anyone else further info on this?
However in a long term perspective it is possible for competitors to copy this technology and thus SIAFs competitive advantage will disappear. Thus creating retail brands that the company will achieve with their franchising operations is crucial in order to create a long term sustainable competetive advantage. is there a franchising strategy in place?
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