Source: PhilStar
Seafood exporter Alliance Select Foods International Inc. (FOOD) is mulling the possibility of listing on the Indonesian Stock Exchange where it expects its operations to grow further.
When asked whether the company was interested in dual listing of shares, FOOD president Jonathan Dee said: “That’s a possibility given our growing business in Indonesia.â€
Dee said the group is planning to beef up the capacity of its factory in Indonesia from the current 50 tons of tuna per day to 60 tons.
Together with the Indonesian plant, FOOD produces over 200 metric tons of processed seafood daily, supplying hundreds of successful brand name companies across 60 countries around the world.
PT Van de Zee, company owned by FOOD subsidiary PT International Alliance Food Indonesia, recently obtained the license for capture fishing in Indonesia’s exclusive economic zone. It received an initial allocation of 5,000 metric tons of tuna for this year.
The allocation may be increased to 30,000 MT by 2016 upon fulfillment of a five-year vessel acquisition program.
Aside from Indonesia, FOOD, one of the leading top notch seafood processing companies in Southeast Asia, has three factories in General Santos City with a production capacity of 70 tons of tuna.