Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Alliance Select Foods processing factory in NZ. (Photo: Alliance)

ASFI moves toward listing in Singapore Stock Exchange with new subsidiary

Click on the flag for more information about Singapore SINGAPORE
Monday, January 28, 2013, 23:50 (GMT + 9)

Canned tuna maker Alliance Select Foods International Inc (ASFI) recently announced that it has built a new wholly-owned subsidiary in Singapore, which will help it be listed in that country’s Stock Exchange.

Alliance Select communicated to the Philippine Stock Exchange (PSE) that its Singapore unit Alliance Select Foods Pte Ltd is an investment holding company in addition to existing as a general wholesaler and trader, GMA News reports. 

In September 2012, Alliance Select first said that it intended to have its shares listed in the Singaporean Stock Exchange (SGX), and that it will seek the listing by proposing an offering of Singapore Depository Shares (SDS) representing common shares of the company, Manila Times reports.

"With this office, we’ll be able to tap the smoked salmon market in Singapore. There is a higher disposable income in the country [Singapore], a very good and organized retail penetration. Also, smoked salmon is a higher-end product, so it could sell well in a developed country like Singapore," said Rajat Balain, Alliance Select corporate information officer, Business World reports.

According to a previous disclosure to the Philippine Stock Exchange, in order for Alliance Select Foods to carry out this transaction, the company’s board has already authorized the issuance of up to a maximum of PHP 430.27 million- (USD 10.5 million) worth of shares from its authorized capital stock.

Alliance Select noted that it hired CIMB BankBerhad Singapore as its financial adviser and that the proceeds from the SGX offering will pay for the company’s future growth. 

“The listing will enable Alliance Select to raise additional funds to finance its future growth,” the company said in a statement.

Last year as well, the canned tuna manufacturer purchased six commercial tuna fishing vessels as part of the vertical integration of its fishing operations, stating that it had bought the vessels from BSJ Fishing and Trading Inc, thereby settling in full that company’s obligation to Alliance Select for fish deposits worth some USD 15 million.

Related article:

- Alliance Select gains better control of its tuna supply 

 

By Natalia Real
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United Kingdom
Sep 27, 00:30 (GMT + 9):
British fishermen intend to meet Asian demand for cuttlefish
Sri Lanka
Sep 27, 00:30 (GMT + 9):
Fisheries Ministry to establish an insurance scheme for fisher community
Viet Nam
Sep 27, 00:00 (GMT + 9):
Exporting firms seek new markets for panga
China
Sep 26, 22:20 (GMT + 9):
IN BRIEF - 2nd International Jellyfish Conference 2017
United States
Sep 26, 22:00 (GMT + 9):
IN BRIEF - McCormick & Schmick’s shuts nearly one-third of its US restaurants
United States
Sep 26, 22:00 (GMT + 9):
A deadly herpes virus is threatening oysters around the world
Argentina
Sep 26, 21:30 (GMT + 9):
Legislator concerned about abundant shrimp catch and sector’s complaints
Spain
Sep 26, 21:20 (GMT + 9):
Purse seine main species landings increased in Galicia 45pct
United States
Sep 26, 21:00 (GMT + 9):
Sea Grant Aircraft help Florida Keys fishermen find lost lobster traps
Ecuador
Sep 26, 20:50 (GMT + 9):
Experts from 14 countries attend world aquaculture congress
United States
Sep 26, 02:20 (GMT + 9):
A child’s toy aids salmon growth
United States
Sep 26, 01:30 (GMT + 9):
Cod moves northwards in search of cooler waters
Canada
Sep 26, 01:00 (GMT + 9):
Parasitic sea lice become resistant to pesticides. The solution?
United States
Sep 26, 00:30 (GMT + 9):
Alaska’s salmon industry deems global competition as beneficial
Thailand
Sep 26, 00:10 (GMT + 9):
Grant from Walmart Foundation to address human trafficking in Thai fishing industry



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Iceland makes bigger profit from warming oceans as fish swim north
Iceland Until about 2000, mackerel were a rare sight in Iceland, an island whose people have survived for centuries by fishing but today they are one of the country's most commercially important fish, both in terms of value and volume.
Minister’s decision erodes Māori fisheries settlement
New Zealand Primary Industries’ decision to decrease the total allowable commercial catch in paua will eventually erode hard won Maori fishing settlement rights, says Te Ohu Kaimoana Chief Executive Dion Tuuta
Can 3 cans of tuna in olive oil be manufactured and sold for EUR 0.99?
Spain Who can make tuna cans for EUR 0.99? No one is qualified to market three containers in olive oil at that price, at the risk of bankruptcy. The sector is clear: if they are at that expense, it is because they serve as a key product.
Dutch Advertising standards authority confirm Princes are 'misleading consumers'
United Kingdom The Dutch Advertising Code Committee has found that Princes is 'misleading consumers' through statements made on its tins of tuna which come from the unsustainable PNA fishery featuring the Marine Stewardship Council’s “blue tick” logo.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER