Sino Agro Food, Inc. (SIAF) is an integrated developer, producer and distributor of organic food and agricultural products in the Peoples Republic of China (PRC). The Company is focused on developing, producing and distributing higher margin agricultural products to meet the increasing demands from China's emerging middle class consumers for wholesome, trustworthy, higher quality, and gourmet or medicinal food items. We specialize in producing the highest quality beef and seafood, and high value produce.
Current lines of business include Aquaculture, Livestock Farming, Plantation Farming, Farm Services, and Marketing & Trading.
The Company's largest and most scalable businesses are indoor and semi-enclosed open dam aquaculture production of a variety of seafood, prawns, and eel, and production of over 60 cuts of beef and lamb. Both businesses fit the Company's "farm to table" concept with protein foods being nurtured from birth with proprietary feeds and technology to end sale of packaged products. In the case of aquaculture, the Company uses a proprietary Recirculating Aquaculture System ("RAS") featuring indoor tanks with fresh water recirculating 60 to 120 times per hour, controlled feed and growth environments, and no use of hormones, antibiotics, or other drugs or chemicals. In the case of beef and lamb protein products, live cattle is grazed and grazed on specified grasses grown with our proprietary fertilizers and methods; raised and fattened using proprietary livestock feed; deboned and packaged at the Company's abattoir, and sold through Company owned butcher shop concessions at Tesco PLC stores, among other outlets.
On October 28, 2013 Sino Agro's majority controlled subsidiary SJAP (Qinghai Sanjiang A Power Agriculture Co., Ltd.) nomination to apply the merit credentials in China to become a certified China Dragon head Enterprise was approved by government authorities. This is a major achievement and marks a milestone in SJAP's business operations, plans, and prospects. "Dragon Head" designation both validates and promotes SJAP's transformation from purely a producer of whole live cattle to a producer, processor, and marketer of packaged, value added beef products. Such vertical integration presents a significant competitive advantage in the region. In the first quarter of 2014, a multiplier effect will begin to accrue across all financial measures. "Dragon Head Enterprise" is a prestigious certification granted by the Government to businesses demonstrating corporate social responsibility ("CSR"), pioneering and leadership in business, and high standards of quality and services. It frequently leads to additional governmental grants and other forms of assistance. The Qinghai Province population has a larger percentage of ethnic minorities than most, and thereby businesses receive proportionately higher grants, incentives, assistances and subsidies from the Government. Stemming from its business model, SJAP has been well supported by the Government due to our CSR. The Company expects to receive even greater support from the Government with the approval of its "Dragon Head Enterprise" status.
2. Contracts with TESCO PLC:
The Company is delighted to announce that its China joint venture company Qinghai Sanjiang A Power Agriculture Co., Ltd. ("SJAP") has entered into two contracts with Tesco, PLC to become both a supplier and an in-store butcher shop concessionaire of beef and lamb. The contracts became effective June 19, 2014 and run for five years.
3. Sino Agro Food Closed US $25 Million Convertible Note Funding:
The Company is pleased to announce that it has closed a net US $24,975,000 convertible note funding with Euro China Capital AB ("ECAB"), a Nordic investment house, on the 29th of August, 2014. Euro China Capital AB's Managing Partner Fredrik Danielsson commented, "We have conducted extensive due diligence on Sino Agro Food over the past two years and are impressed by the operations that Mr. Lee and his team have managed to develop.
SJAP slaughtered 158 head of cattle and de-boned 88 metric tons of meat in June. SJAP is on target to sell 20,000 head of cattle in 2014, raised by local cooperative farmers and grazed on land leased to SJAP to promote modern agriculture in the region. Rapidly increasing proportions of cattle will be processed through SJAP's abattoir and de-boning/packaging facility in the second half of 2014. From there, meats will be distributed to various resellers. Under the SJAP "Bull" brand, up to 60 different cuts of packaged beef will be prepared for resale at SJAP concession butcher shops located within TESCO stores in China.
5. Mega Prawn Farm:
Sino Agro Foods has announced that its planned prawn farm complex will culture shrimp and prawns from hatchery to grow-out and packing all on its giant complex. With production expected to start in the second quarter of 2015. With a staggering production estimate of 300,000 metric tons, the company stated it hopes to reach this figure after ten years of production. The company has set a production target of 10,000 metric tons for the first two years, 30,000 metric tons in three years and 100,000 metric tons in five years.The farming system prides itself in being 100 per cent sustainable, as the shrimp/prawns are born, bred and grown in a closed indoor Re-circulating Aquaculture System (RAS). Sino Agro Foods' A Power Re-circulating Aquaculture System and Technology (APRAS) uses indoor tanks that re-circulate fresh water at a rate of 60 times an hour. As a closed system, it has low mortality rates of less than eight per cent and is less susceptible to the introduction of disease, meaning little or no risk of Early Mortality Syndrome. Most importantly, RAS is a green farming system since it does not require chemicals or antibiotics to recycle the water. Around 99.75 per cent of water within the tank can be recycled while the excrements of aquatic products can be used as organic fertilizer. It is these qualities which will also allowed the farm to use hydroponics to grow fruit and vegetables alongside the shrimp/prawns. This staggering project will also benefit the local community through the creation of 145,000 peripheral and direct jobs, a guaranteed sufficient food supply and an increase in local incomes - as direct employee jobs should have an average salary 25 per cent higher than average urban resident of Zhongshan and 100 per cent higher than the average rural resident.
GUANGZHOU, China, Feb. 19, 2013 /PRNewswire/ -- Sino Agro Food, Inc. (OTCBB: SIAF), an emerging integrated, diversified agriculture technology and organic food company (the "Company") with its principal operations located throughout the Peoples Republic of China ("PRC"), is pleased to update shareholders on its progress for cross-listing on NASDAQ-OMX First North.
- siaf = china rto, mit all den bekannten risiken ( u.a. komplizierte vie-struktur, probleme bezüglich "collectibility/ accountability against assets located in china" ) - schwankende lebensmittelpreise,...
was unterscheidet siaf von anderen chin. rto's:
- unabhängige nicht-chin. vorstandsmitglieder (Mr. Daniel Ritchey, Mr. Lim Chang Soh, Nils-Erik Sandberg, Koi Ming (George) Yap)
- transparenz: -siaf veranstaltet regelmäßig touren zur besichtigung des operativen geschäfts
-siaf veröffentlicht regelmäßig unabhängig geprüfte finanzberichte an die sec
problem in der vergangenheit: starke wachstum wurde finanziert über die ungebremste ausgabe von aktien, ABER: ( siehe sept.04 2014)
As part of this convertible bond, Sino Agro Food has undertaken a commitment to cease the issuance of new shares as a means to pay suppliers and similar. Our ambition is that the equity will never again be used as currency until it has reached a value that to some degree reflects the fundamental value of the Company. With this foundation and Mr. Lee's commitment to work with Euro China Capital now in place, we are confident that we have established a platform from which Sino Agro Food has the ability to transform its operational success into value for all its shareholders.
Cancellation of record date for distribution of dividend shares in Tri-Way Industries Limited
Reference is made to the announcement by the Company on 8 October 2018 regarding the distribution of dividend shares by Tri-Way Industries Limited (?Tri-Way?). Reference is further made to the ex date announcement made by the Company on 30 October 2018 in respect of the record date for the right to receive the distribution.
The Company regrets to inform its shareholders that the record date has been cancelled. The Company refers to the attached announcement made by Tri-Way whereby Tri-Way announces that it withdraws the record date, as it has been advised that certain aspects of the proposed transaction need to be evaluated further in light of United States regulatory requirements and other steps may have to be taken before the distribution is initiated. The announcement further states that Tri-Way still intends to have its shares distributed to SIAF?s shareholders and will keep its own shareholders and the public at large updated on this matter as it deems necessary or advisable.
: Nils-Erik Sandberg verlässt das sinkende Schiff
On November 8, 2018, the Board of Directors (the ?Board?) of Sino Agro Food, Inc. (the ?Company?), received a letter of resignation from Nils-Erik Sandberg from all of his positions with the Company. Mr. Sandberg was an independent director of the Company, the chairman of its audit committee as well as the chairman of its compensation committee. There was no disagreement or dispute between Mr. Sandberg and the Company which led to his resignation.
Sino Agro signs MoU for 60,000t aquaculture farm in Angola
Sino Agro Food, the firm behind the shrimp 'megafarm' in south China, has signed a memorandum of understanding (MoU) to consult on a planned 60,000-metric-ton-capacity aquaculture farm in Angola.
According to Sino Agro, the MoU document will serve as registration for a funding request from a regional Angolan state sponsored aquaculture agency to Angolan authorities for inclusion in the China Credit Line to Angola.
Sino Agro Food?s CFO, Mr. Daniel ?Dan? Ritchey passed away this weekend. We are all deeply saddened. Dan was a vital and loved part of our company for many years, a trusted friend and colleague. Our thoughts and prayers are with his wife Galina and their sons Jason and Demetri. Dan has been seriously ill for many months now. He did not want anyone to know, including me, until things took a turn for the worse recently. Dan has long made dedicated and lasting contributions to SIAF. While many know him as a true professional, I will remember him as a valued friend. We will all miss him.
Unglaublich, aber die noch im November bestätigte Dividendenpolitik wurde nun zurückgezogen. Dividende von 0.05/Aktie wird nun doch nicht ausgezahlt... augenscheinlich diente dieses Manöver ( ebenfalls wie die angebliche Verteilung der Tri-way Anteile) lediglich dazu, weiterhin den Markt mit Aktien fluten zu können. SIAF stinkt extrem nach Fisch!
On August 29, 2014, Sino Agro Food, Inc. (the ?Company?) issued a Promissory Note (the ?ECAB Note?) to Euro China Capital AB (?ECAB?) in the principal face amount of $33,300,000, as subsequently amended by a Restructuring Agreement executed in July of 2017 (as so amended, the ?New Note?).
We received a notice of default (the ?Notice?) from ECAB on December 12, 2018 contending that the New Note was in default because (i) SIAF has not made repayments on the New Note in the manner prescribed by its terms, and (ii) of certain other unspecified events of default. While ECAB stated in the Notice that it has not elected to accelerate the right to repayment of the entire principal amount, including accrued but unpaid interest on the ECAB Note, it reserves the right to do so.
Prior to receipt of the Notice from ECAB, the Company was attempting to reach a negotiated settlement with ECAB. Notwithstanding receipt of the Notice, the Company hopes to continue to work with ECAB to settle its obligations under the ECAB Note. The Company intends to vigorously defend its position should a mutually amicable resolution prove unattainable.
.... gleichzeitig wird der Markt weiter mit Aktien geflutet:
Outstanding Shares: 49,866,174 (12/18/2018)
... der angebliche Dividendenhype war sowas von Fake... zu keiner Zeit war dafür Geld vorhanden... nicht mal nachdem man den Markt mit 20Mio Aktien geflutet hat.... jetzt wird sich vermutlich herausstellen, dass die Vermögenswerte ebenfalls nicht mehr wert sind, als heisse Luft ... Gaunerbande!
On March 29, 2019, the Board of Directors (the ?Board?) of Sino Agro Food, Inc. (the ?Company?) appointed Colanukuduru Ravindran as an independent director of the Company effective immediately. Mr. Ravindran will receive an annual fee of $60,000, payable in monthly installments, and be required to comply with certain confidentiality provisions. He will also be entitled to receive, on an annual basis, shares of the Company?s common stock having a value equal to $60,000
On April 17, 2019, the Board of Directors (the ?Board?) of Sino Agro Food, Inc. (the ?Company?) appointed Muson Cheung as an independent director of the Company effective immediately. The Board also appointed Mr. Cheung to the audit committee.
On April 30, 2019, the Board of Directors (the ?Board?) of Sino Agro Food, Inc. (the ?Company?) received a letter of resignation from Lim Chang Soh (Anthony) from all of his positions with the Company. Mr. Soh was an independent director of the Company as well as a member of its compensation committee. There was no disagreement or dispute between Mr. Soh and the Company which led to his resignation. Also on April 30, 2019, the Board appointed the Company?s independent director Muson Cheung to serve on the compensation committee, effective upon Mr. Soh?s resignation. Mr. Cheung will retain his membership in the audit committee.
-------------------------------------------------- Sino Agro Food. Inc Provides 2018 Annual Result CEO Prepared Remarks and Q & A
GUANGZHOU, China-- Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME), operates in the People?s Republic of China, and focuses on the production and distribution of high protein food including seafood and cattle.
Please view these links to the 2018 annual results Prepared Remarks by SIAF?s CEO, Mr. Solomon Lee, as well as answers to questions submitted by shareholders:
Company also files for shareholder option to exchange common shares for new preferred shares
GUANGZHOU, China, June 27, 2019 /PRNewswire/ -- Sino Agro Food, Inc. (OTCQX: SIAF) (OSE: SIAF-ME), a company focused on high protein food including seafood and cattle ("SIAF"), has filed forms S-1 and S-4 with the SEC relating to the offering of a new class of preferred shares. The transactions described in the S-1 and S-4 are expected to commence in the third quarter of 2019, subject to clearance by the Securities and Exchange Commission. Such approval cannot be assured.
: Sino Agro to be delisted from Oslo stock exchange
Sino Agro Food, the firm behind the shrimp ?megafarm? in south China, is to be delisted from the Oslo stock exchange after committing ?gross violations? of stock market rules.
The delisting comes as the firm?s share price trades at NOK 1-2 ($0.12-$0.23), down from NOK 84 per share less than five years ago.
According to the Oslo stock exchange, the last listing day for shares in Sino Agro on the Merkur Market will be Sept. 10.
Breaches include Sino Agro?s failure to distribute dividends in the form of shares in Tri-way Industries, after a resolution committing to do so in October 2018.
Tri-Way Industries was sold a majority stake in Sino Agro?s megafarm after a carve-out in 2017.
Sino Agro?s troubled megafarm project -- which uses indoor recirculated aquaculture technology -- came under scrutiny after repeated delays to the start of farming shrimp resulting from problems with production and what the firm claimed was a lack of funds.
Sino Agro Food Reports That Tri-Way Industries Closes Credit Facility
PR Newswire PR NewswireAugust 27, 2019, 3:20 PM GMT+2 Backs Expansion of Tri-Way's Trading Business
GUANGZHOU, China, Aug. 27, 2019 /PRNewswire/ -- Sino Agro Food, Inc. (SIAF) (OSE:SIAF-ME), a company focused on high protein food including seafood and cattle ("SIAF"), reports that its equity investee, Tri-Way Industries Ltd. closed agreements in late July with Incomlend Pte. Ltd. (a Singapore-based Insurance Company) and Stenn (a UK-based Insurance company) on two USD 5.0 M trade invoice financing facilities ("TIFF") to allow lines of credit extended to the buyers and/or sellers for the import, export and distribution business of SIAF's equity investee, Tri-Way Industries Ltd.