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China Fishery - Low PE
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Leongsan
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23-Jul-2014 20:31
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The capacity of the plant will be about 300 tonnes of fishmeal per year. It will be used by the local compound feed producers and other customers.
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stockpicker ( Date: 23-Jul-2014 19:40) Posted:
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Competitor?
Japanese company to build fishmeal plant in Russia
0 23 Process Management
Japanese company Mitsui is planning to build a fishmeal production plant on the Sakhalin Island in the far east part of Russia.
Negotiations on this project are in the final stage, according to Hiroshi Meguro, CEO of Mitsui & Co Moscow. The preliminary agreement on the project has been signed during a working meeting with the head of the Federal Agency for Fisheries Ilya Shestakov, reported Russian media SoyaNews.
According to representatives of the Japanese companies the project has good prospects and may be launched after 2015. The capacity of the plant will be about 300 tonnes of fishmeal per year. It will be used by the local compound feed producers and other customers.
" We also see great potential in the development of aquaculture in the Russian Far East," said Hiroshi Meguro. " The company is currently engaged in studying the prospects of growing scallops and oysters on Sakhalin, as it sees strong demand for these products both in Russia and Asia." Also, according to Hiroshi Meguro, in Primorsky Krai there are observed suitable conditions for the commercial cultivation of sea urchin.
Russian officials promised that all these projects will have a state support.
by Vladislav Vorotnikov 23 Jul 2014
http://www.allaboutfeed.net/Process-Management/Aquafeed/2014/7/Japanese-company-to-build-fishmeal-plant-in-Russia-1564790W/
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What do they raise the money for? They have just reduced the debt level by a bit last few quarter and now they started to borrow more money again.. looks like this borrowing will never end as their businesses in Europe and US all need financing due to poor business and they will have to borrow more and more to make ends meet.
| JMS213 Senior |
23-Jul-2014 09:54  About JMS213  Contact  Quote! Mood:  Yells: " Just living is not enough. One must have sunshine, freedom !" |
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Do they look like they are playing marbles ? It is not just the announcement, but the amount of work going into it. Leongsan they have bigger thing to look at. Be patience and relax as you witness the unfolding of their plan. The market will decide .... enjoy |
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hishing bans high juveniles. Wonder if IMARPE grant extension reuested by the big 5.
stockpicker ( Date: 23-Jul-2014 11:01) Posted:
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Master
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Volume does not justify pump and dump... more like investors are waiting for the results
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Leongsan Member |
23-Jul-2014 09:27  About Leongsan Contact Quote!
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Are you sure it is not pump and dump? |
Master
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Leongsan, it appears that your source is more updated.. the FIS source is 1 week behind.. now the MSIceres reported poor catch..
- poor catch last week total 67,225 mtons ....week #29
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quota meter at 66.42 mtons until july 20th.....66.42 pct of the quota landed....
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catch week #29 @ 67,225 mtons.....n/c @ 67,023 mt......south @ 202 mt.....
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Market very quiet from all fronts ....
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STOCKS CHINA NOW .... 134,130 mtons as of july 20 TH .....
Master
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Good catch last week ...
Fishmeal
Catch volumes
Peru
During week 28, catch volumes reached 248,371 tonnes of anchovies caught by the industrial fleet. So far they have reached 2,115,094 tonnes.
Veteran
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I heard someone mentioned relax and take it ez ..... noted.
stockpicker ( Date: 22-Jul-2014 08:37) Posted:
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Yells: "Just living is not enough. One must have sunshine, freedom !"
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Do they look like they are playing marbles ? It is not just the announcement, but the amount of work going into it. Leongsan they have bigger thing to look at. Be patience and relax as you witness the unfolding of their plan. The market will decide .... enjoy
PACIFIC ANDES RESOURCES DEVELOPMENT LIMITED
(Incorporated in Bermuda with limited liability) (" Company" or " Issuer" )
ISSUANCE OF SINGAPORE DOLLAR-DENOMINATED BONDS BY PACIFIC ANDES RESOURCES DEVELOPMENT LIMITED
DISCLOSURE PURSUANT TO RULES 704(31) AND 728 OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (' SGX-ST" ) LISTING MANUAL
1. BONDS ISSUE
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1.1 The Board of Directors of the Company (" Board" ) is pleased to announce that the Company has on 22 July 2014 entered into a subscription agreement with DBS Bank Ltd. pursuant to which the Company has agreed to issue S$200,000,000 8.5% Singapore dollar-denominated bonds (" Bonds" ) due 2017 (" Bonds Issue" ). -
1.2 Principal Terms
Certain principal terms of the Bonds are summarized as follows:
Aggregate Principal Amount
Issue Price Interest
Status
Maturity Date Settlement Date
: S$200,000,000.
: 100% of the principal amount of the Bonds.
: The Bonds will bear interest at the rate of 8.5% per annum, payable semi-annually.
: The Bonds constitute direct, unconditional, unsubordinated and unsecured obligations of the Company and will at all times rank pari passu among themselves and, at least pari passu in the right of payment with all other present and future unsecured obligations of the Company, save for such obligations as may be preferred by provisions of law that are mandatory.
: 30 July 2017. : 30 July 2014.
1.3 Rationale and Use of Proceeds
The Bonds Issue is part of the Company' s strategy to improve its overall working capital position. It will enhance the Company' s debt profile and at the same time provide long term capital for ongoing operations. The net proceeds from the Bonds Issue will be used for the Company' s general corporate purposes, to fund capital expenditures, working capital, strategic acquisitions and investments and to refinance a portion of its existing indebtedness.
1.4 Listing
Approval in-principle has been obtained from the SGX-ST for the listing and quotation of the Bonds on the Official List of the SGX-ST. Approval in-principle of the SGX-ST for the listing and quotation of the Bonds on the Official List of the SGX-ST is not to be taken as an indication of the merits of the Bonds, the Company and/or its subsidiaries.
2. RULES 704(31) AND 728 OF THE SGX-ST LISTING MANUAL
Pursuant to Rule 704 (31) of the SGX-ST Listing Manual, the Board wishes to disclose that the Bonds contain conditions that make reference to the shareholding interests of certain controlling shareholders or place restrictions on any change of control of the Company. The details are set out in the Appendix.
As at the date of this announcement, none of the conditions described in the Appendix has occurred. Assuming any such condition occurs, (i) the holder of the Bonds will have the right, at such holder' s option, to require the Company to redeem all but not some only of that holder' s Bonds on the Put Settlement Date (as defined in the Appendix) at 101% of their principal amount, together with accrued interest up to but excluding such Put Settlement Date (as defined in the Appendix) and (ii) the aggregate maximum level of facilities available to the Company and/or its subsidiaries as at the date of this announcement that may be affected by such occurrence is approximately US$1,050,000,000 (excluding the Bonds to be issued).
In compliance with Rule 728 of the SGX-ST Listing Manual, the Company has obtained undertakings from (i) Ng Joo Siang, Ng Joo Kwee, Ng Joo Thieng and Ng Joo Puay, Frank (on behalf of the Controlling Shareholder (as defined in the Appendix)) (ii) N.S. Hong Investment (BVI) Limited (iii) Clamford Holding Limited and (iv) Pacific Andes International Holdings Limited, for each of them to notify the Company, as soon as they become aware, of any share pledging arrangements relating to their respective interest in the shares of the Company and/or of any event, which may result in a Change of Control (as defined in the Appendix).
By Order of the Board
Pacific Andes Resources Development Limited
Lynn Wan Tiew Leng Company Secretary Singapore, 22 July 2014
Senior
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Are you sure it is not pump and dump?
stockpicker ( Date: 22-Jul-2014 08:37) Posted:
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Senior
Yells: "Just living is not enough. One must have sunshine, freedom !"
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Most people here are looking out for news from CF. Unbeknown to many the news appeared in the mother co. Pacific Andes. While the price of CF closed at 0.38 PAIH closed up.
With the short term bonds being taken up by financial institution, Equilibrium for CF is positive. Let the market play out .... enjoy
Senior
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You talking about financial institutions that are taking up the bonds.
Banks are advised by theirs advisers.
The Consolicitation is just an exercise out of formality. Like what Isolator always said Long
Enjoy ....
stockpicker ( Date: 22-Jul-2014 20:58) Posted:
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Bigmama ( Date: 22-Jul-2014 07:20) Posted:
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The settlement date of the bond is on the 30 July same day as the expiry date for the solicitation.
The outcome of the solicitation is certain and it is not a choice for the bondholders.
Get ready ... The Sailfish is ready to charge forward. Cheers
stockpicker ( Date: 22-Jul-2014 20:58) Posted:
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Master
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Copeinca involved in juvenile anchovy seizure
July 21, 2014, 5:47 pm
The Peruvian ministry of production said it has intervened on 64 industrial fishing vessels and seized 2,630 metric tons of juvenile anchovy destined to be use in the manufacture of fishmeal and fish oil.
The catches were found in unloading areas and plants of several fishing companies based in the regions of Ancash, Callao, Lima, Ica and Moquegua, Gestion reported.
The fishing companies and shipowners involved in the administrative action were Pesquera Diamante, Pesquera Casablanca, Copeinca, Empresa Pesquera Flora, Sipion Barrios Augusto, Pesquera Yoly, Pesquera ZT and Pesquera Exalmar.
http://www.undercurrentnews.com/2014/07/21/diamante-copeinca-exalmar-hayduk-involved-in-juvenile-anchovy-seizure/
Master
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Olam' s 5 year Notes was at rate of 4.25%.. what a different..
stockpicker ( Date: 22-Jul-2014 20:58) Posted:
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Short term bond for 3 years @ 8.5% rate.. looks attractive. Mostly taken up the banks. Company unlikely to become insolvent in 3 years...
kc6164 ( Date: 22-Jul-2014 20:21) Posted:
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PACIFIC Andes Resources Development' s inaugural Singapore-dollar bond issue sold like hot cakes on Tuesday, in what has become a familiar refrain in the local debt market.
Master
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Anchovy catch suspended in three areas
PERU Monday, July 21, 2014, 02:20 (GMT + 9)
The Ministry of Production (PRODUCE) suspended anchovy (Engraulis ringens) and longnose anchovy (Anchoa nasus) capture in various areas of the Peruvian coast to preserve their populations.
According to the Ministerial Resolution No. 244-2014, both pelagic fisheries resource capture has been suspended since last Friday for a period of five calendar days.
The ban applies in three specific areas:
- Between 11° 00' to 11° 29' south latitude, within 20 nautical miles off the coast
- Between 12° 00' to 12° 29' south latitude, within 20 nautical miles off the coast
- Between 13° 00' and 14° 29' south latitude, within 50 nautical miles off the coast.
The catch suspension applies to artisanal fishing boats -- smaller and larger scale ones
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Typo " although the refund from the Russian Pollock will help to prevent CF going into the red"