– UK, London – 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 the appointment of Mr Chong Cha Hwa FCCA (also known as Brandson Chong) as Finance Director effective from 1 October 2017.
Mr Chong has over 20 years of experience in accounting and finance, servicing private and publicly listed companies in Hong Kong and the Southern Asia region. A Fellow of the Association of Chartered Certified Accountants and a member of the Malaysian Institute of Accountants, Mr Chong has held several executive and non-executive positions including CFO of China Shanshui Cement Group Ltd and independent non-executive director of China Mining Resources Group Limited.
Mr. Chong will sit on the main Board of Directors of Aquatic Foods and its AIM Compliance committee.
Mr. Chong’s initial focus will be to finalise the audit process and publication of the Company’s overdue full year results to 31 December 2016, the publication of the Company’s interim results for the six month period to 30 June 2017 (which will become overdue from 30 September 2017) and to progress the further remittance of funds to the Group’s Jersey holding company from its operating subsidiaries in China. Further updates will be provided in due course along with an update on expected timing of the publication of the Company’s accounts.
Li Xianzhi, Chief Executive of Aquatic Foods Group, said: “Aquatic Foods is pleased to announce the appointment of Mr Chong and is confident that he will help the Company to complete its near term requirements to allow for a resumption of trading in the Company’s shares. Mr. Chong’s strong international experience is also expected to be invaluable as the Company seeks to expand its operations. “
Aquatic Foods Group is a leading marine foods and seafood processor and supplier based in China. The Group initially built its business through focusing on the export market (principally Japan under the “Kanwa Foods” brand), and subsequently established the “Zhenhaitang” brand in 2007 in mainland China to take advantage of the growing market driven by growing disposable income within the Chinese middle-classes and a more health conscious consumer base.
The Group benefits from excellent food safety procedures developed over many years which have helped the Group to build a strong track record of supplying its products into overseas markets. This track record has enhanced the perception of the quality and reliability of the Group’s products in China and has allowed the Group to expand significantly into local markets as demand for seafood products has increased. In a market that has seen regular public health scares relating to food safety, the Group considers that its adherence to these standards to be a key strength.
Aquatic Foods works with a network of distributors to effectively market its products in China. The Group has continued to grow its distributor relationships and now distributes its products in 16 provinces, municipalities and autonomous regions in China through 50 regional distributors. These distributors in turn sell the Group’s products to sub-distributors and retailers, including supermarket chains and hypermarkets.
For more information : http://www.aquaticfoods-ir.com
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