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Under new flag, Lafayette makes new request to transship in South Pacific

The Lafayette mothership, owned by Pacific Andes subsidiary China Fishery

August 29, 2014, 10:25 am

Eva Tallaksen

The reflagging has now been achieved. According to a letter circulated by the secretariat of the SPRFMO and seen byUndercurrent, the vessel &mdash which is able to transship and process, but not equipped to fish &ndash changed flag to Peru on July 16.

Along with the new flag came a new name &mdash the vessel is now called Damanzaihao, shows the letter, dated Aug. 13 and sent by Peru' s production ministry Produce to Johanne Fischer, the SPRFMO' s new executive secretary.

The letter informs the SPRFMO that Damanzaiho has applied to take part in the fishery.

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01-Sep-2014 23:17

China Fishery / China Fishery - Low PE

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Sorry changing clothes not appropriate " changing company uniform"

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01-Sep-2014 23:15

China Fishery / China Fishery - Low PE

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I think they are changing clothes ...

CHANGE OF COMPANY SECRETARY

The Board of Directors (the " Board" ) of China Fishery Group Limited (the " Company" ) would like to announce the appointment of Ms Yeo Poh Noi Caroline as Secretary of the Company in place of Ms Yvonne Choo with effect from 1 September 2014.

The Board wishes to take this opportunity to thank Ms Yvonne Choo for her contributions during her tenure of office.

Ms Tan San-Ju remains as Secretary of the Company.

By Order of the Board

Tan San-Ju Company Secretary

Date: 1 September 2014

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31-Aug-2014 23:38

China Fishery / China Fishery - Low PE

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Found this article interesting .... It is evolving, innovating

Aug. 29, 11.02am: Anchovy, from fishmeal to ' deluxe' product

Peru&rsquo s anchovy fishery is so huge that it can supply the largest fishmeal industry in the world and, stil, there is enough resource for the human consumption division.

Some Peruvian producers, such as Pesquera Diamante, are already supplying domestic market with canned anchovy in different sauces, and others, like Tri Marine' s Conservera de las Americas, are pinning their hopes on exports of canned anchovy.

But there is still room to explore anchovy' s potential.

The country' s Ministry of Production, Produce, has developed a new gourmet product: " deluxe" canned anchovy.

Wrapped in slick packaging and marinated in oriental sauces, the cans are expected to become a popular product among Peruvians, simply because they taste " delicious" , Melva Pazos, coordinator at Produce' s researching division for human consumption products, told Undercurrent News.

Premium canned anchovy has been presented to seafood processors at Expoalimentaria and there are already several companies that have shown interest in the product, Pazos said.

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31-Aug-2014 17:01

China Fishery / China Fishery - Low PE

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Yes, wind and rain is here. Now the air is relatively cool ....

Hope the season is here to stay till end of the year ..... Woah love it ... It is so cool

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31-Aug-2014 13:14

China Fishery / China Fishery - Low PE

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ManZzz ... don' t tell me anything ....Bbbb .... ever since S69 spoke about the wind and rain .... you bet they are here since 23 Aug.

SLPY69 ( Date: 23-Aug-2014 22:02) Posted:

Don' t mind telling you, the El Niñ o is going away because the South Wind is blowing and rain is on the way ..... Enjoy your weekends

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27-Aug-2014 22:26

China Fishery / China Fishery - Low PE

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I am one not knowing much about this fish affairs but one thing I do know, ever since S69 spoke about the wind and rain ... man ... it has been raining non stop and the monsoon wind.

SP, you don' t believe what Fitch said about Copeinca asset worth of US$2.5B ? Is there any reason why you doubt a Global Rating Agency saying ?

Sorry .. just don' t get it ?????

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25-Aug-2014 20:24

China Fishery / China Fishery - Low PE

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Fitch: Extension of Consent Solicitation Won' t Impact China Fishery Ratings

Mon Aug 25, 2014 9:31am GMT

(The following statement was released by the rating agency) HONG KONG/SINGAPORE, August 25 (Fitch) Fitch Ratings says today that giving bondholders of Corporacion Pesquera Inca SAC (COPEINCA, B+/Stable) one more month to decide if they consent to changes in the bond indenture will not impact Fitch' s ratings on its parent China Fishery Group Limited (China Fishery BB-/Negative). The Chinese company' s fundamentals remain strong and as a result, the risk of it facing immediate liquidity issues from this event remains low. The purpose of the consent solicitation is to remove the restriction on Copeinca ASA, COPEINCA' s parent, and the operating entities under it from guaranteeing debts of China Fishery Group. China Fishery acquired Copeinca ASA, a major anchovy-quota holder in Peru, in 2013. The extension of the consent solicitation to 17 September 2014 reflects the reluctance of COPEINCA bondholders to agree to the amended indenture at the current consent fee of 1%. In general, the process to win consent from bondholders can be lengthy and often requires several iterations of the offer. In the event bondholders refuse to give consent regardless of terms, China Fishery would have to refinance the COPEINCA bonds immediately. The risk of both the consent solicitation failing and COPEINCA' s creditors refusing to give China Fishery any grace period to seek refinancing for the bonds is low. China Fishery' s operation remains cash generative and it is likely to generate positive free cash flow to help in its deleveraging. Revenue for the nine months to 30 June 2014 increased by 13.4% from a year earlier and EBITDA margin increased to 44.5% from 43.2%, primarily due to higher revenue contribution and cost savings from the enlarged Peruvian fishmeal operations, which offset the thinner trading margins from the spot purchase business in Russia. Fitch expects the underlying earnings profile of China Fishery to strengthen given the firm demand for fishmeal, a staple needed for aquaculture globally, and savings to be realised from the further consolidation of its enlarged Peruvian business. The refund of a total US$241.5m from a long-term supply agreement (LSA) with its Russian suppliers is on track. China Fishery received US$80m in June 2014 and it expects to receive another US$60m by the end of the current fiscal year on 30 September 2014 (FY14) with the remaining to be fully paid by end of FY16. Its inventory of USD183m at end-June 2014 will be partly liquidated by the end of FY14 as the fishing season enters its lowest point. This cash release together with the LSA refund might drive China Fishery' s FY14 net leverage to below 3.5x if management continues to deleverage. China Fishery' s ability to generate positive free cash flow of about USD90m from FY15 will help the company reduce its leverage to below 3.0x by FY16.

SLPY69 ( Date: 22-Aug 14:32) Posted:

Please read carefully ... will not be impacted EVEN IF .......

SLPY69 ( Date: 22-Aug-2014 12:07) Posted:

Can you hear the cheering from behind .... listen carefully " You can do it .... grow like a Champion grow" Wonder who is the one saying it .... O it is the Banks ..... you are our Money Tree. Keep growing and we love you. Mother company, Pacific Andes International Holdings, the twelfth-largest seafood company in the world by revenue.

Caperone, please take good care of CF' s need, this BB has potential .... and make sure the solicitation team get it done. We want results

Why would anyone wants to throw out a Wimbledon, PGA ..... Champion ? Must be kidding ... fundamental of CF is intact.

Fitch: China Fishery' s Ratings Not Impacted By Consent Solicitation

Thu Jul 17, 2014 10:08pm EDT

(The following statement was released by the rating agency) SINGAPORE/HONG KONG, July 17 (Fitch) Fitch Ratings says today that the ratings of China Fishery Group Limited (China Fishery BB-/Negative) and its bonds due 2019 will not be impacted even if the proposed amendments in the consent solicitation announced on 14 July 2014 are adopted.

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25-Aug-2014 17:33

China Fishery / China Fishery - Low PE

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Wau today really got wind and rain .... quite chun .... truly the El Nino is leaving ....

Before market close, there was sell down. Now is still wait and see ... CNBC news

Dog days of August could bring surprise for stocks Patti Domm | @pattidomm Friday, 22 Aug 2014 | 6:39 PM ET

The dog days of August are finally here, but markets could be volatile in the week ahead as focus shifts away from the Fed and possibly to Russia and Ukraine at the beginning of the week.

Enjoy ....

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31-Jul-2014 23:17

China Fishery / China Fishery - Low PE

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CHANGE OF COMPANY SECRETARY

The Board of Directors (the " Board" ) of China Fishery Group Limited (the " Company" ) would like to announce the appointment of Ms Tan San-Ju as Secretary of the Company in place of Ms Busarakham Kohsikaporn with effect from 31 July 2014.

The Board would like to thank Ms Busarakham Kohsikaporn for her contributions during her tenure of office.

Ms Yvonne Choo remains as Secretary of the Company.

By Order of the Board

Yvonne Choo Company Secretary

Date: 31 July 2014

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23-Jul-2014 10:08

China Fishery / China Fishery - Low PE

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I heard someone mentioned relax and take it ez ..... noted.

stockpicker ( Date: 22-Jul-2014 08:37) Posted:

As usual, CF is waiting for the 3^rd qrt result which is to be announced aound 10 August. Some are buying up as usual awaiting for surprising results. Many are waiting sideline for events to happen. The El-Nino event will affect the result although the refund from the Russian Pollock will help CF going into the red. However, there were conflicting reports on the result of the catch so far. Some said the catch in 2014 will be about the same as 2013 and some said terrible results will be expected. These made guessing works interesting..and therefore, forumers&rsquo view differs here.

Technically, CF investors are taking a wait and see attitude with some investors, especially the small ones keeping their fingers crossed but the majority are sidelined. The chart is more following a parabolic projectile showing the result of waiting..CF may be able to take off under the following conditions.

It much cross the next volume on price hurdle at 0.385
It much break the parabolic projectile

To do that, the coming result must be good having a good outlook, meaning there will be no El-Nino in the year.

However, the investors could not wait longer as some of the indicators are showing or reaching over-bought conditions with little momentum forces pushing it at the back. However, this would change if CF could report a beautiful 3^rd qrt.. lets wait..

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14-Jul-2014 09:36

China Fishery / China Fishery - Low PE

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Anyway read for yourself.

JMS213 ( Date: 12-Jul-2014 23:33) Posted:

This time, you guys maybe getting the sum wrong and Isolator is right.

This stock is traded too low and has become very attractive.

Maintain time for collection. Equilibrium is positive

JMS213 ( Date: 12-Jul-2014 08:16) Posted:

" Why is the stock trading so far under water?"

The market knows that China Fishery is trading below its value or undervalued. It has consolidated its position after the acquisition of Copeinca.

How long it is going to stay at this low level ?

Change is about to happen &hellip . historically July is a cool time to look for undervalued stocks. More good news is coming .....

I have started accumulating.

Maintain Equilibrium is positive. Cheers

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14-Jul-2014 09:34

China Fishery / China Fishery - Low PE

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What JMS said is correct. The BB has dropped 70% already it is time to move upstream. Yay

JMS213 ( Date: 13-Jul-2014 20:42) Posted:

Bigmama, I can' t agree with you more. Since Isolator mentioned about crystal ball ... the BB has already dropped 70%.

That' s why now is time to collect. Equilibrium is positive. Patience and we should be hearing more good news.

Let' s enjoy tomorrow World Cup Final. After that enjoy fishing

Bigmama ( Date: 13-Jul-2014 15:51) Posted:

Huh? Is that the same crystal ball you use last year for ipco, Magnus, innopac? .... The same one who ask u to buy or regret because they are going to triple ..... Lol... Your crystal ball lost about 70% of your money!!!! lol.
Better throw it away....come ....see u so Cham ....let me give you some lesson. Don't play shares like a little boy. "Crystal ball!" Ha ha ha

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09-Jul-2014 20:34

China Fishery / China Fishery - Low PE

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Take it ez Paulogan, don' t get too kan cheong and excited ... What Isolator said is " his kuku bird already show uptrend ... soon your and others also will show uptrend breakout."

Wah you so quickly ask him to look at yours .... don' t said so loudly. We all understand you ..... it is coming. Don' t get overly excited. Relax and Enjoy .... this kind of thing cannot rush ....

PauloGan ( Date: 09-Jul-2014 19:20) Posted:

U looking at my kuku bird uptrend is it?
Enjoy looking. lol

Isolator ( Date: 09-Jul-2014 14:47) Posted:

Very soon most chart will show uptrend breakout..... Mine is already show.... Enjoy...

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12-Jun-2014 14:34

China Fishery / China Fishery - Low PE

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Take it ez, the shortists are fighting hard to keep the price down. Good opportunity to accumulate.

Anyway this shortists are quite strong. Let the market decides ... Exciting

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11-Jun-2014 10:13

China Fishery / China Fishery - Low PE

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The quota 2.53m tonnes is given or allowed by Peru' s Ministry of Produce after their assessment of the biomass.

They are not asking for higher quota rather about relaxing the regulation.

Anyway the catch for the season is fair by Elena Conterno, Chairwoman of SNP who is the former Head for the Ministry of Produce.

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