Welcome to FIS   Sponsored By
United States
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


Click to know how to advertise in FIS
United States
Oct 7, 03:50 (GMT + 9):
Court affirms antidumping duty to Chinese shrimp exporter
Oct 7, 03:00 (GMT + 9):
Trans-Pacific historical trade deal stirs mixed views
Oct 7, 02:10 (GMT + 9):
Brasilia hosts meeting of FAO Aquaculture Subcommittee
Viet Nam
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Tilapia fish exports seen rising by 2020
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Proliferation of shrimp farms displacing women workers
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Shrimp paste to be recalled
United Kingdom
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Fishy business makes more sense with sensors
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Six new labs to help aqua farmers
United States
Oct 7, 02:00 (GMT + 9):
IN BRIEF - Consumer survey explores farmed, wild seafood perceptions
Oct 7, 01:30 (GMT + 9):
How much wild fish can be replaced in salmon feed?
Oct 6, 23:50 (GMT + 9):
CETMAR joins search for solutions to reduce fish discards
Oct 6, 23:40 (GMT + 9):
Seafood exports continue growing
Oct 6, 23:10 (GMT + 9):
Industrial fishing sector to begin fishery voluntary certification
Oct 6, 22:20 (GMT + 9):
Marine Harvest attains first BAP group farm certification
Oct 6, 21:30 (GMT + 9):
Thai Union defends itself from Greenpeace's accusations

Portable device quickly tests shellfish toxins
United States A team of scientists from the United States and Europe has developed a portable, inexpensive device that can quickly and easily screen freshly caught shellfish for toxins that cause diarrhetic shellfish poisoning.
Greenpeace urges Thai Union to stop alleged labour abuse
Thailand Greenpeace has urged Thai Union to increase oversight, traceability and transparency at sea after alleged connections of the Thai firm to alleged forced labour, human rights abuses and environmental devastation.
Foreign vannamei shrimp depresses frozen seafood exports
Bangladesh Frozen seafood exporters from Bangladesh have been forced to decline their prices to improve sales given the large cheaper vannamei shrimp supply in the international market and the fall of the euro and the ruble against the American dollar.
Second anchovy season likelihood to be known next week
Peru The Ministry of Production will define next week whether there will be a second anchovy fishing season in the northern-central area, the head of the sector informed.
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 (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
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 ehf - 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.
Food Project (Siam) Co., 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. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
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
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2015 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER