China Fishery Group

[dydx]

http://infopub.sgx.com/FileOpen/PARD-Ann...eID=384380

Pacific Andes, parent of China Fishery, has indicated that there are plans to sell its Peruvian business at an enterprise value of US$1.7 Billion. From China Fishery's balance sheet, it seems the company will have US$500 Million (approx 20cents per share) leftover after debts are repaid.

We must not forget that not only the subsidiary CF (listed on SGX) Group, but the entire PA Group under ultimate parent PAIH (listed on SEHK) are involved in the same interlocked fishery related (fishy!) businesses. It is difficult to imagine that the lenders, trade creditors or minority shareholders could come out from this mega financial fiasco unscathed.