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
editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
Aug 22, 05:10 (GMT + 9):
Lerøy reports strong profit growth in Q2
Chile
Aug 22, 04:20 (GMT + 9):
Final bids for PescaChile and Acuinova to be received in two weeks
Israel
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Israel fish research to help aquaponics and fish farming?
Pakistan
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Seafood exports increase 5.68 percent in July 2014
United States
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Major anchovy die-off stinks up Seaside, Ore.
United Kingdom
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Scottish Fishermen’s Federation publishes independence referendum analysis
Viet Nam
Aug 22, 02:20 (GMT + 9):
IN BRIEF - Opportunities for boosting seafood exports to Australia
China
Aug 22, 02:20 (GMT + 9):
IN BRIEF - China Fishery Accepting Anchovies for Cash Faces Bond Hurdle
United Kingdom
Aug 22, 02:20 (GMT + 9):
IN BRIEF - Anchovies top the foods we love to hate
European Union
Aug 22, 02:20 (GMT + 9):
Morocco urged to solve fishing license issue for EU fleet
New Zealand
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Fish oil refiner seeks local supply
United Kingdom
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Environmentally friendly Scottish mussels take a starring role on BBC Horizon
Denmark
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Danish herring fishery enters Marine Stewardship Council reassessment
Viet Nam
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Surimi exports grow strongly
Canada
Aug 22, 02:00 (GMT + 9):
IN BRIEF - N.S. clams up about lobster project site



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Cluster farming helps improve tilapia production
Fiji The Secretariat of the Pacific Community has been working with the EU and the Fiji Ministry of Fisheries and Forests in assisting smallholder tilapia farmers to improve production by working together in cluster groups.
Data gaps affect pacific tuna assessment
Marshall Islands Pacific Islands Forum Fisheries Agency requests its members to properly report their fishing catches in Pacific waters to help prevent overfishing.
Walmart’s obtains marginal income and focuses on e-commerce
United States The operating income of the world's largest retailer Walmart declined by a 2.4 per cent in US during the fiscal second quarter while online sales increased.
Shrimp exports grow
Ecuador Ecuador exported 350 million pounds of shrimp in the first half of this year, 10 per cent more than in the same period in 2013, and projections suggest that 2014 will close with the shipment of about 500 million pounds.
 
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-
Grupo Calvo - Luis Calvo Sanz, S.A. (Group 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
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 - 2014 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER