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
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Dec 6, 07:00 (GMT + 9):
IN BRIEF - FDA: Phil-Am Trading, Inc. Recalls Phil-Am Smoked Mackerel Because of Possible Health Risk
United States
Dec 6, 06:00 (GMT + 9):
IN BRIEF - FDA: Royal Seafood Baza, Inc. Recalls Various Ready to Eat Herring Products | Possible Health Risk
China
Dec 6, 02:20 (GMT + 9):
China’s disappearing fish suggest bigger food-safety concerns
United States
Dec 6, 02:00 (GMT + 9):
Fishing ban in international Arctic waters remains elusive
Japan
Dec 6, 01:10 (GMT + 9):
Volunteer group continues checking fish off Fukushima as radiation levels drop
China
Dec 6, 00:40 (GMT + 9):
U.S. Coast Guard wants a bigger role in patrolling the disputed waters
Worldwide
Dec 6, 00:30 (GMT + 9):
United Nations to vote World Tuna Day this week
Chile
Dec 5, 23:50 (GMT + 9):
More than 100 artisanal shipowners complain against the Undersecretariat of Fisheries
Chile
Dec 5, 23:40 (GMT + 9):
Marine Harvest would add 500 salmon
India
Dec 5, 23:00 (GMT + 9):
IN BRIEF - No formalin in imported fish, says Mizoram health department
United Kingdom
Dec 5, 23:00 (GMT + 9):
IN BRIEF - Mystery as thousands of fish wash up on Cornish beach
Argentina
Dec 5, 23:00 (GMT + 9):
Govt formalizes reimbursement elimination by decree but refunds rise
United Kingdom
Dec 5, 22:50 (GMT + 9):
IN BRIEF - Exposed: the abusive pirates trying to avoid fishing laws
Worldwide
Dec 5, 22:40 (GMT + 9):
Only 9.1 per cent women’s representation at seafood industry senior level
United States
Dec 5, 21:40 (GMT + 9):
Indigenous seafood consumption 15 times higher per capita than national averages



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Pingtan adds two new jiggers to its fleet
China Global fishing company Pingtan Marine Enterprise Ltd. has completed construction on its two squid jigging vessels, which are ready to depart for their fishing designation.
Cadiz Port Authority grants sole farming centre permit
Spain The Port Authority of the Bay of Cadiz has granted the firm Epic Aqua Solea Acuicultura SL an administrative permission for the construction of the first phase of an intensive sole farming centre in El Puerto de Santa Maria.
Maersk Line strengthens growth strategy through Hamburg line acquisition
Denmark Maersk Line is to acquire German container shipping line Hamburg Süd after reaching an agreement with Oetker Group in an attempt to develop its growth strategy and increase transport volumes.
USD 36 million seafood smuggling operation discovered
China A case involving 3,000 tons of smuggled frozen seafood worth USD 36 million was discovered and several suspects are being prosecuted, as it was reported by the customs authority.
 
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
Nueva Pescanova, S.L. - Group 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.
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
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2016 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER