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
Canada
Oct 31, 04:00 (GMT + 9):
Lobster fishermen will not vote next season
Spain
Oct 31, 03:20 (GMT + 9):
Canning association grants cooperation to Brazil
United Kingdom
Oct 31, 02:40 (GMT + 9):
Seafish launches guide on new EU seafood consumer legislation
Canada
Oct 31, 02:30 (GMT + 9):
IN BRIEF - Neptune Receives TSX Approval For Normal Course Issuer Bid
United States
Oct 31, 02:30 (GMT + 9):
IN BRIEF - Despite good wages, lobster processing is a hard sell
Norway
Oct 31, 02:20 (GMT + 9):
IN BRIEF - Mitsubishi gets 92 pct of Norway's Cermaq in bid
Iceland
Oct 31, 02:20 (GMT + 9):
IN BRIEF - Total value of catch decreased by 13.1%
United Kingdom
Oct 31, 02:20 (GMT + 9):
IN BRIEF - Scottish mackerel splashed across Japan
United States
Oct 31, 02:10 (GMT + 9):
IN BRIEF - Down East aquaculture research institute gets USD 2 million grant
India
Oct 31, 02:00 (GMT + 9):
IN BRIEF - Nabard rolls out INR 100 000 000 scheme for fish farming
New Zealand
Oct 31, 02:00 (GMT + 9):
IN BRIEF - Pledge signed to protect threatened NZ bird
United States
Oct 31, 01:50 (GMT + 9):
IN BRIEF - Scientists call for second straight season without shrimp fishing
Australia
Oct 31, 01:50 (GMT + 9):
IN BRIEF - The latest on the status of Australia’s fisheries
Brazil
Oct 31, 01:40 (GMT + 9):
885 areas to be granted for marine aquaculture in Sergipe
Iceland
Oct 31, 01:00 (GMT + 9):
IN BRIEF - Icelandic Cod fishery re-certified to IRFM Standard



Lenguaje
FEATURED EVENTS
  
TOP STORIES
FDA investigation reveals limited seafood mislabeling, NFI highlights
United States The FDA has released the results of a two year investigation into seafood labeling that found 85 per cent of the seafood it tested was properly labeled.
Research detects antibiotics traces in commercial seafood
United States Two scientists have carried out a new study to examine the persistence of antibiotics in seafood raised by aquaculture and have found traces of five of them in commercial species purchased in the country.
Bumble Bee Foods’ lawsuit sent to Superior Court
United States A class-action suit filed in 2012 accusing Bumble Bee Foods of mislabeling tuna and related products was not dismissed at federal court but the lawsuit was remanded to Superior Court.
John West denies Greenpeace’s accusations
United Kingdom The canning firm John West group denies the fishing boat recently broadcast in a video by Greenpeace to show the firm’s alleged unsustainable practices belongs to them or their parent company, MW Brands.
 
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 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 - 2014 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER