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Ann: Placement and Non-Renounceable Entitlement Offer, page-14

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Bruce72

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26/07/22

12:53

Post #: 62729803
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Originally posted by Protagonist: ↑

Our company currently has at least one floating aquafarm. And plans to establish more in Singapore, Australia and maybe other locations around the Asia Pacific. I spoke to people participating in the placement last week. And word on the street is that SCU is talking about establishing 100s or a 1,000 of these things. The company is thinking big.

Impressive stuff. But we must take these grandiose sales pitches with a grain of salt, right? After all, this is SCU. And even assuming the company can pull an iota of this off, where will they sell all the seaweed and grape. Veganberg? Or will we rely on the Lantene network to distribute our product to mainland China? What are our options?

Let's unpack this:

First of all, keep in mind, this aquafarm business is a JV. SCU owns 70%. Another business called 'Rong Yao Fisheries' owns the other 30%:

The JV arrangement was formalised as an incorporated entity way back in November last year:

OK. So who is "Rong Yao Fisheries"? Just a little local fishing operator probably, right?

Nope. Rong Yao Fisheries is a subsidiary of another much larger organisation called the Rong-Yao Group

Rong-Yao Group run many different businesses. Including a food distribution business

Pretty cool, right? And what types of customers does the Rong-Yao group sell its produce too?

These guys are serious players. This JV has serious scale and potential.

Expand

cheers again Protag - fantastic reading and research there !!

Yes serious scale and potential !!!

SCU Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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