Alliance Select Foods Int'l Inc.
phassssssssssttttttttttttttttttttttttttttttttttttttttttttttt ... twisted

" Gloria in Excelsis Deo " ... Big Grin
" Gloria in Excelsis Deo " ... Tongue
" Gloria in Excelsis Deo " ... twisted

ay ambot lang ... twisted Tongue twisted
Hala... Sino nagpalalabas nyang praise este press release? E Hindi pa Yan ang big news Jan sa Davao. Mga bu@ng ga bakasyon pa ako gani giya kay mama kag mga tigulang. Hindi ako maka chorus ka nimo angkol WTF. Basi naga binayle ako sa plaza imaw kang mga beauty queen. WTF ang mga miss universe sa Boracay

Spread out and multiply.
Spread your portfolio and let them multiply.
Sir CD baka pwede pabulong naman nung big news na yan sa Davao.hihi
(01-21-2017, 01:52 PM)balgog Wrote: Sir CD baka pwede pabulong naman nung big news na yan sa Davao.hihi

I got no concrete facts balgog. Just advance verbal information coming downstream. So I can't post it. Consider it a gossip. That's why I'm inviting davaoenos to share if their local news pick it up yet.

Im on vacation and hope I can get info next week. I'll post it when there is already a news item.

Spread out and multiply.
Spread your portfolio and let them multiply.
-Manila, Philippines- Listed international seafood company Alliance Select Foods
International Inc. (ASFII, or The Group) reports significant gains as a result of its
turnaround strategy in the first quarter of 2017, delivering a high revenue of USD17
Million. The Group attributes this growth to higher sales in both its tuna and salmon
segments, particularly with new export opportunities in its premium line of products.
The Group reported overall improvement in profitability quarter-on-quarter, with ASFII’s
tuna segment ending the quarter with a 14% increase in total sales. Meanwhile, the
Group’s salmon segment ended the quarter with a 16% YOY growth in net revenue, with
its subsidiary Big Glory Bay reporting sales 144% higher compared to the same period last
year, and Akaroa reporting an increase of sales by 66% and an improvement of its gross
profit margin by 10%, effectively trebling its net income.
The Group noted that global supply and the cost of raw materials continue to impact
profit margins, as the Company continues to contend with environmental factors such as
long-term effects of global warming, a sea lice epidemic in Norway, as well as last year’s
Chile algae bloom.
ASFII, however, continues to grow steadily and sustainably, expanding its line of sales
offerings, as well as its new export markets for its other premium seafood products.
“Alliance Select continues its strategic and optimization measures, and we see this as the
numbers indicate that we have, indeed, gained traction to sustain this profitability
throughout the year. While 2017 is forecasted to remain volatile in terms of commodity
prices, this growth is stable, and I am confident that, given the team’s direction, we are
well-positioned to overcome these challenges,” notes Raymond KH See, the Company’s
CEO and President.

anung meron at nag .98 nung pagka tapos ng trading halt?? nut nut at pagkatapos ata ng esfeysyal stuck holderz maything?? nut nut
Bullish or Bearish, I will Buy .... Autem Neque Me Invito Tactiost! \m/
phassssssssttttttttttttttttttttttttttttttttttttttttttttttttttttt ... twisted

nisutoy ang presyo kay nadungog gyud nila ang akong pagkanta og pagampo ... Big Grin

akoa nasad usbon ni beh para mana-og ni sunod semana ... twisted

" Gloria in Excelsis Deo " ... Big Grin
" Gloria in Excelsis Deo " ... Tongue
" Gloria in Excelsis Deo " ... twisted

ay ambot lang ... twisted Tongue twisted

...pinarurusahan 'tong stock na 'to...dati piso pa presyo nito eh Tongue

DOJ orders filing of estafa charges vs. tuna canning firm execs

The Department of Justice (DOJ) has moved for the filing of criminal charges in court against several officials of listed canning firm Alliance Select Foods International Inc. for using the investments in the company to engage in supposedly illegal activities.

Justice Undersecretary Deo Marco, in a resolution, affirmed the finding of probable cause for estafa against Alliance Select chairman George Sycip, son of the late business tycoon and philanthropist Washington Sycip, and Alliance board of directors Jonathan Dee, Alvin Dee, Joanna Dee-Laurel, Teresita Ladanga, Grace Dogillo, and Arak Ratborihan.

The complaint was resolved in favor of Alliance stockholders Victory Fund Limited, Harvest All Investment Limited, and Bondeast Private Limited whose peso and dollar investments range from thousands to hundreds of millions of pesos.

According to the DOJ, the complainants were made to believe that investing in Alliance Select would be financially rewarding and that the company is "engaged in the manufacturing, canning, sale, importing, exporting of tuna and salmon and their expectancy for growth considering the promise for expansion."

“We agree that had not for the false pretenses in painting a ‘rosy picture’ of Alliance, employed by respondents Dee and George that their corporation has a lucrative business in the Philippines, as one of the tuna capitals of the world, has business enterprise in other countries and poised to further expand globally, they (complainants) would not have parted their money. Moreover, had complainants known that Alliance was formed to ‘bail out’ the Dee Companies, they would not have invested their money,” the March 27 resolution stated.

The DOJ, meanwhile, dismissed the charges for falsification of public documents and syndicated estafa for lack of probable cause.

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Alliance Select’s accumulated losses hit $32M  

THE Securities and Exchange Commission must act now before it is too late for its officials to do something for the public stockholders who have incurred significant losses from their investment in Alliance Select Foods International Inc. (ASFII). Alliance Select has an authorized capital stock of 2.5 billion common shares, out of 3 billion common shares with a par value of P1 per share. The company became a publicly traded stock after it sold to the public 535.1 million common shares at P1.35 per share in an initial public offering on Nov. 8, 2006.

The stock closed at P0.57 on April 16, 2017, making the public lose P0.78 per share, or 57.778 percent of their investment at an acquisition price of P1.35 per ASFII common share.

In its early years as a publicly traded company, Alliance Select was generous to its stockholders. It distributed as stock dividends 64.177 million common shares on Dec. 17, 2007, and 137.5 million common shares on Jan. 25, 2012.

In selling 430.286 million ASFII common shares at P1.31 per share under a private placement, Strongoak Inc., according to a filing of Alliance Select, ended up owning the equivalent of 28.7 percent of 2.5 billion outstanding ASFII common shares.

By dividing 430.286 million ASFII common shares by 2.5 billion outstanding common shares, Due Diligencer arrived at 17.211 percent of the company’s 2.5 billion outstanding common shares.

“The issuance of the shares resulted in an increase in share capital and additional paid-in capital (APIC) amounting to $9.663 million and $2.974 million, respectively.

Eventually, Strongoak ended up the majority stockholder of Alliance Select in 2015 “owning a total of 1.382 billion shares, representing 55.32 percent of the total issued and outstanding shares of the Parent company.” Again, a computation resulted in Strongoak holding the equivalent of 55.311 percent.
“As of Sept. 30, 2017 and Dec. 31, 2016, additional paid-in capital amounted to $6.6 million,” according to an unaudited quarterly report Alliance Select posted on the website of the Philippine Stock Exchange (PSE).

In the same quarterly financial filing, Alliance Select reported APIC under equity, together with capital stock of $53.646 million, and other comprehensive income of $918,032.

For public investors, the puzzle how Alliance Select could have piled up a deficit of $26.255 million, which, at P52 to a US dollar, would be equivalent to P1.381 billion, despite Strongoak’s additional infusion.

Could the “salaries, wages and other short-term benefits” of $1.772 million in 2017 and $2.036 million in 2016 have caused the huge deficit of Alliance Select? These amounts represented 33.353 percent and 42.438 percent of total “selling and administrative expenses” of $5.312 million in 2017 and $4.798 million in 2016.

It is up to the public to analyze the financial disclosures of Alliance Select and see for themselves how such huge deficits could have happened.

By the way, Alliance Select also reported in its quarterly disclosure short-term benefits of $6.813 million, or 99.062 percent of total benefits of $6.877 million in 2017, and $6.92 million, or 99.018 percent of $6.989 million in 2016.

Generous executive pays
A public ownership report (POR) showed Alliance Select’s ownership profile, with Strongoak at the top, holding 1.383 billion ASFII common shares, or 55.32 percent, according to a company filing. It also listed two other corporate stockholders such as Harvest All Investment Limited, with 177.261 million ASFII common shares, or 7.09 percent; and Victory Fund Limited, with 138.474 million ASFII common shares, or 5.54 percent.

These three stockholders combined for ownership of 1.699 billion ASFII common shares, or 67.95 percent of 2.5 billion outstanding ASFII common shares. In the same POR, Alliance Select attributed to the public 794.059 million ASFII common shares, or 31.77 percent, but are not represented in the seven-person board.

The government is also listed as holder of 346,207 ASFII common shares, or 0.01 percent.

By the way, despite its deficit, Alliance Select paid its chief executive officer, and four others, salaries of P10.723 million in 2014 and P12.998 million in 2015. In addition, the company also rewarded them “bonus/other income amounts” of P891,000 in 2014 and P268,000 in 2015.

These compensations went to Raymond K.H. See, president and CEO; Ma. Cristina P. Ambrocio, general counsel, assistant corporate secretary and compliance officer; Lisa Angela Y. Dejadina, senior vice president for operations; Christopher Paul M. Manese, sales manager; and Edward L. Noma, procurement manager.

Due Diligencer’s take
“The Group does not foresee any cash flow or liquidity problem over the next 12 months,” Alliance Select said in a preliminary information statement (PIS). “It is in compliance with its loan covenant pertaining to debt-to-equity ratio.”

As a result, Alliance Select reported in the same PIS a “625 percent increase in cash and cash equivalents due to the proceeds of the SRO (stock rights offering) in August 2015.”

Alliance Select also said in the same PSE posting the use of the SRO proceeds “to settle outstanding obligations, contributing to the 37-percent decrease in trade and other payables.”

As of May 31, 2017, total liabilities of Alliance Select surged to $28.332 million from $25.808 million. This meant from Dec. 31, 2016 to May 31, 2017, or a five-month period, Alliance Select failed to reduce its liabilities, which, instead, increased by 9.733 percent.

At the same time, Alliance Select said in a report that it had to reduce the par value of its capital stock to P0.50 per share from P1 per share in what is called “quasi-reorganization. It expected the reduction to wipe out its deficit, which had reached $31.999 million as of May 31, 2017.

Alliance Select is undergoing capital restructuring that would effectively reduce the value of the holdings of the company’s stockholders, particularly the public.

Finally, here are two questions for Antonio C. Pacis, chairman, and George Sycip, vice chairman of Alliance Select; and other members of the board, namely, Jonathan Y. Dee, Alvin Y. Dee, Joanna Y. Dee-Laurel, Teresita S. Ladanga, Grace S. Dogilio, Arak Rathborihan, Mary Grace T. Vera Cruz:

Why is Strongoak so silent when it would certainly get hurt financially as Alliance Select’s continue to accumulate deficits?

Why did Alliance Select name only Strongoak and two foreign stockholders from Hong Kong and Singapore in its POR? Just asking.

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Reply release lang ito, kailangan nila magperform ng husto para magreverse from loss...avoid muna

Tuna, salmon business seen to drive Alliance Select profit

ALLIANCE Select Foods International, Inc. (ASFII) is on track to post profits again this year, driven by the growth of its tuna and salmon businesses.

In 2017, the listed international seafood firm made a profit for the first time since 2011, posting a net income of $1.6 million. This followed a 20% increase in revenues to $72.2 million for the year.

“We see continued growth for both tuna and salmon segments. We are confident of sustained growth in sales volume and revenue in export and in the respective domestic markets. With this, we remain optimistic towards another profitable 2018 by end year,” ASFII Chief Executive Officer Raymond K.H. See said in an e-mailed response to questions.

By the end of the first quarter of 2018, the company has already recorded a net income of $1.22 million, significantly higher than the $90,295 it made in the same period in 2017. Revenues also went up 40.6% to $23.65 million.

While it expects positive results for the year, ASFII noted the current inflationary environment is affecting its business.

“Among others, challenges are that price of raw materials continues to be volatile amid the current increasing, inflationary environment, impacting FOOD’s input costs,” Mr. See said, referring to the company’s ticker symbol FOOD.

ASFII plans to further grow its market by innovating its products and processes, as well as deliver operational efficiencies to combat inflationary pressures in the coming years.

The company said it will also upgrade its existing plant technology and equipment across all business sectors to strengthen its operations.

“Another priority for Alliance is the continued formation of formidable and lasting partnerships in all aspects of our value chain,” Mr. See said.

Incorporated in 2003, ASFII is a homegrown international seafood company whose products are distributed in foreign markets such as Europe, the United States, Japan, and the Middle East.

The company is currently undertaking an equity restructuring program that would wipe out its deficit.

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