|Just look at the shareholder register and see if any reputable large investors. Reminds of RCG, NBU, etc Bid Offer spread also hints at something not being quite right here. I'm sure newbie investors will have a punt but others will not touch it. Seen the dividend thing before too, pay out a nice dividend to build confidence before trading results suddenly become unfavourable... Imho dyor etc|
|China fraud Aquatic Foods Trading Update: drip, drip, drip - the water torture continues in a sea of Red Flags
By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 2 March 2016
China Fraud Aquatic Foods - drip, drip, drip the torture continues
By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 16 February 2016
|You probably need to listen to this BBC radio show
|The dividend is still better than the interest on any type of savings account.|
This is a fraud. 100%. Exactly the same fraud has been done a dozen or more times.
PE ratio is 4. The company has nearly 3 times as much cash as market cap. It's cash flow positive.
On these metrics if this company was legitimate everyone would be buying it. The directors. The directors' wives. The directors' wives tennis partners. The directors' dogs.
There may be a very small legitimate business buried somewhere here but its just a front for the fraud. The financial results are all made up.
Hope this helps.|
|"Chinese companies just seem to hate paying dividends"
...Haven't you worked out why that is Rupe?|
|Disappointing to see the divi slashed.
i can see that cutting the dividend here is probably justified. Profits have basically halved. But did they really need to slash from .7p to .2p?
Profits are still nearly £4m for the half year (after tax). This divi will cost less than 10% of that.
Also there is 417m RMB in cash. That's about £45m.
Chinese companies just seem to hate paying dividends.|
|The future of all fish stocks is farming... WE better get used to it.
We can't just keep taking from the oceans, and not managing them... It happened on land, and with say 9billion, (by 2030?) it will happen in the water too...
Any company worth its salt, will be planning for that day.
And Speccy... We've all been there mate... We live and learn.
BUT, at the moment, bargain of the century. I'm fully loaded elsewhere, expecting a rapid move north in the company that used to have the AFG moniker... (African Gold, which became MWA - Mwana Africa, and now has become ASA Reseource Group...ASA)
They are sitting on a 100% price rise+ this year, having been as low as £0.003 in January, with a recent run up to 2p, which might see a small top-up opportunity, in the near future, if you have any spare readies...
An opportunity to pull something back?
|speccy1 - interesting blog. Thanks for the link.
Re. AFG, there are reasons to be optimistic. In particular because of the high calibre new Finance Director from West China Cement (very good company). The share price has gone much too low. AFG IPO'ed at 60p and there's no reason it shouldn't get back there in a year or so. In the meantime we get a 10% dividend, which might rise.
Q2 trading statement next week perhaps?|
|Woohoo! Nice to see the dividend land in my account at last.
Also nice to see the bid price climb by 2p when the share price just climbed 0.5p. That was enough to wipe out 20% of my losses on this share. Still quite a way to go to get above water though.
It also means the title of my Nemesis Share has passed from AFG to OPTI - but with OPTI posting interims tomorrow AFG could win the title back!
More on this thrilling battle in my blog :)
I first bought shares here when I was extremely naive. The thought that there could be anything dodgy just didn't register. As I looked more into the history of Chinese AIM stocks I became terrified at what I had done, but the more I looked, the more confident I became this company was for real.
It was hard to maintain that faith when sitting on £1,000 loss, especially as a comparatively small investor. I have bought more recently, particularly after the appointment of the new Finance Director. This has brought my weighted average price down from 35p to 22p, so now it's just a case of sitting back and hoping the profits and dividends continue to flow. Maybe in a few years I'll break even...|
|This is interesting article from Bloomberg about Chinese fish stocks, or the lack of them.
As a leading importer of fish into China (from the UK, Norway and many other countries) AFG is in quite a good place, I think.
China's Empty Oceans
308AUG 17, 2016 6:00 PM EDT
On Wednesday, Indonesia celebrated its Independence Day with a bang -- blowing up several Chinese boats that had been caught fishing illegally in its waters and impounded. China doesn't dispute Indonesia's territorial claims, but Chinese fishermen have more pressing concerns. According to reports in Chinese state media this week, overfishing and pollution have so depleted China's own fishery resources that in some places -- including the East China Sea -- there are virtually "no fish" left.
That's a frightening prospect for an increasingly hungry country: China accounted for 35 percent of the world's seafood consumption in 2015. Seeking catches further afield -- including in Indonesian waters -- isn't really a solution; fish stocks in the disputed South China Sea have themselves fallen by as much as 95 percent from 1950s levels. If China doesn't want the rest of Asia's fisheries to suffer the same fate as its own, it's going to have to think much more ambitiously about how to create a sustainable food supply for the region.
As in other developing countries, China's ascent up the income ladder has been accompanied by an improvement in quality and quantity of diet. Seafood -- once a pricey luxury in much of the country -- has become commonplace, even inland; China is now the world's biggest seafood consumer and exporter. The economic impact has been extraordinary. Between 1979 and 2013, China's fleet of motorized fishing vessels grew from 55,225 to 694,905 boats, while the number of people employed in the fishing industry exploded from 2.25 million to more than 14 million. Meanwhile, the average fisherman's income increased from around $15 per month to nearly $2,000 per month. Today, the fishing industry generates more than $260 billion annually, accounting for around 3 percent of Chinese GDP.
But in pursuing growth (and catch) at all costs, China's fishermen have exacted a terrible environmental toll. Today, the Yangtze River, which supplies 60 percent of China's freshwater catch, produces less than a quarter of the fish it did in 1954, and most of the 170 species in the river are on the verge of extinction. The situation is no better offshore. The government acknowledges that Chinese fishermen routinely exceed annual sustainable catch limits in Chinese territorial seas by 30 percent or more. A visit to any Chinese seafood market will turn up large inventories of under-sized fish that should never have been hauled in in the first place.
Blame for this state of affairs falls on both the fishing industry and the government, which spent $6.5 billion on fisheries subsidies in 2013 alone. Nearly all of that money paid for cheap fuel that allowed and arguably encouraged Chinese fishermen to venture further from shore, often into the comparatively un-plundered exclusive economic zones of countries such as Indonesia. Worse, the Chinese military has openly abetted those efforts by subsidizing everything from ice to GPS on Chinese fishing boats. The goal: to solidify China's claim to "historical fishing rights" in the vast and deeply contested South China Sea.
Chinese regulators are fighting a losing battle against these other wings of the government. In 1999, China imposed a seasonal fishing ban in the South China Sea, and in 2002 regulators did the same in sections of the Yangtze River. But the continued deterioration of both fisheries only underscores how ineffective those restrictions have been. In response, in 2013 one Chinese scientist proposed an outright 10-year moratorium on fishing in the economically essential Yangtze. This week, Chinese officials signaled they were open to the idea and were even considering a wholesale culling of China's fishing fleet.
While both measures would be a boon to Asia's fisheries, they're only a start. To make a real difference, China would need to demilitarize its fishing fleets and end the ruinous military-funded fuel subsidies that are encouraging unregulated catches, not to mention raising geopolitical tensions. Fishing fleets should be regulated by civilian marine and agricultural authorities, not generals with little interest in environmental sustainability.
Equally important, China should explicitly link the task of reviving and preserving fisheries to the clean water and other environmental initiatives in its economic planning documents, including the government's five-year plans. Doing so would raise them to a national priority akin to cleaning up Beijing's air.
Those priorities could then be extended to trade agreements, including the Regional Comprehensive Economic Partnership (RCEP) China's currently negotiating with other Asian nations, as well as bilateral deals with other claimants in the South China Sea. The goal should be to make China a leader -- and perhaps even a brand -- in sustainable seafood. With luck, that would buy China not just more fish to eat, but a reputation as a responsible global citizen.|
|And we thought they had cash!|
|So how does this tie in with AFG? Are you posting on the wrong thread?|
Rapidcloud Share News (RCI)
Share Name Share Symbol Market Type Share ISIN Share Description
Rapidcloud LSE:RCI London Ordinary Share JE00B8FX4C95 ORD NPV
Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
+13.00p +48.15% 40.00p 35.00p 45.00p 45.00p 30.50p 30.50p 162,006 11:39:48
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 179.3 5.8 43.9 0.8 8.68
RapidCloud International PLC Channel Sales Partner for Alibaba.com in Malaysia
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RapidCloud International PLC
12 August 2016
RapidCloud International Plc
("RapidCloud", the "Company" or the "Group")
Appointment as Alibaba.com Channel Sales Partner for Malaysia
RapidCloud International plc (AIM: RCI), an enterprise cloud computing infrastructure, software and solutions provider based in Southeast Asia, announces that its wholly owned subsidiary, RapidCloud (M) Sdn. Bhd., has been appointed by Alibaba.com, a global B2B platform of Alibaba Group, as an authorised Gold Supplier membership channel sales partner for Malaysia. This appointment will place RapidCloud (M) Sdn. Bhd. as one of Alibaba.com's authorised Gold Supplier Membership channel sales partners in Malaysia.
This appointment will enable RapidCloud to help Alibaba.com enroll Malaysian SMEs into its Gold Supplier membership, offering Alibaba.com's Malaysian Gold Supplier members, typically exporters, traders, retailers and manufacturers, certain value-added services via the international business-to-business platform operated by Alibaba.com. In addition, RapidCloud will be able to up-sell its existing software suite including digital marketing, e-commerce and sales automation tools, e-mail and cloud services as well as provide local support and training services to both existing and prospective Alibaba.com Malaysian Gold Supplier members.
It is expected this agreement, which is complementary to the partnership with Alibaba Cloud (the cloud computing arm of Alibaba Group) announced on 8 March 2016, positions RapidCloud well to sell both Alibaba tools and services and its own proprietary software to Alibaba.com Gold Supplier members to enable them to rapidly expand the volume of transactions they complete, thereby adding significant value to those enterprises.
RapidCloud will initially deploy at least 30 sales people to capture this market opportunity over the first six months of the agreement, which will expand to at least 40 sales people within the first year of the agreement.
Raymond Chee, Managing Director of RapidCloud, said: "The partnership with an esteemed global business-to-business leader such as Alibaba.com will enable the enterprises in Malaysia to benefit from this powerful trading platform. We believe the ability to procure local support, training and access to other B2B products proprietary to RapidCloud, from a local company they are familiar doing business with is particularly compelling to customers and ultimately benefit enterprises across Malaysia.
"Collaboration with partners who can offer complementary products and services will undoubtedly play a central role in RapidCloud's organic growth strategy. This partnership with Alibaba.com fits particularly well with this strategy and delivers significant value to our shareholders."
|He already has - its on his list.
I thought it was dodgy too (hence the thread title) but I have reconsidered and think this is the real deal. The appointment of the new CFO from WCC gives me even greater confidence.|
|I hope TW does not try and cause problems because of the Chinese connection.|
|AFG mainly supply in China but are expanding globally. i.e last year's USD 15.4m contract to supply Yihe (Ocean eclipse)
This is one of the reasons they wanted to list in the West.
("Aquatic Foods" or the "Group" or the "Company")
USD 15.4 million US export contract secured
Aquatic Foods Group Plc (AIM: AFG), a leading Chinese marine foods and seafood processor and producer, supplying to export and local markets, is pleased to announce that it has signed a significant one year sales contract with Yihe International Corporation ("Yihe"), a leading seafood wholesaler and high volume processor, supplying premium seafood products to the United States ("US"). The contract is expected to benefit the fourth quarter of the current financial year as well as 2016 with the subsequent prospect of repeat business.
...The Group will be supplying Yihe with one of its market leading brands, Ocean Eclipse as well as Alaskan Jack's, which uses a range of different flavoured marinated salmon filets.
|Options granted this week exercisable at 50p.
Profit AFTER TAX £14.6m
Dividend of 1.4p this year|
|Too good to miss.|
|New CFO looks like a seriously good appointment, and worth waiting for.
West China Cement made serious money for PIs back in 2010. It's a respectable and well-run company. It has to be good news that the new CFO has come from there. Also with PWC in KL.|
Thanks - for future ref to enable direct link from BB, after pasting change to hTTp as per below. (otherwise it gets changed to hxxp)