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Alliance Sets Up Singapore Company To Get Stock Exchange Listing Philippines, January 25, 13

Tuna exporter Alliance Select Foods International Inc. has set up a Singapore-based firm, as it prepares to list on the Singapore Exchange’s SGX-Catalist Board this year.

In a disclosure on the Philippine Stock Exchange on Friday, Alliance Select said its wholly-owned subsidiary, Alliance Select Foods Pte Ltd., will have an initial issued and paid up share capital of SGD10 with 10 ordinary shares worth SGD1 apiece.

The company said the subsidiary will work as a general wholesaler and trader and as an investment holding company.

The firm, one of the country’s biggest manufacturers of canned tuna and smoked salmon, in November said it will be listing on the SGX-Catalist Board through an offering of Singapore Depository Shares, to provide investors a convenient way of pouring funds into non-Singapore securities.

A big part of Alliance Select’s annual revenues come from the sales of its canned tuna, manufactured in the Philippines and Indonesia. According to the company, it exports over 150 brands of canned tuna mainly to Europe and the US.