1

AgriNurture Incorporated

Company Profile

Incorporated on February 4, 1997, AgriNurture, Inc. (ANI) started its business operations

in the same year as an importer, trader and fabricator of post-harvest agricultural machineries

intended to improve the productivity as well as increase the income of Filipino farmers.

Formerly known as Mabuhay 2000 Enterprises, Inc., ANI was the first to bring into the

Philippine market the Mega-Sun brand of grain dryers and thereafter established itself as one of

the more reliable local supplier and manufacturer of conveyor systems and other rice mill

equipment.

ANI eventually diversified into other various agro-commercial businesses, specifically

focusing on the export trading of fresh produce as its main revenue stream. Since then, ANI has

become one of the Philippines' produce exporters to the world market. At present, ANI supplies

home-grown fruits such as mango, banana and pineapple to customers in Hong Kong, Mainland

China, the Middle East, and to different European regions.

ANI ventured into the importation and trading of rice in the first quarter of 2015 and has

since then participated in the rice importation program for private sector on the National Food

Authority.

Currently, the Company conducts its business through operating divisions and wholly-

owned or majority-owned subsidiaries. The Philippine operations group is organized into three

business units, namely export, local distribution, and retail & franchising. Meanwhile, the

foreign operations group is principally engaged in fruits and vegetable trading in Hong Kong and

China.

2
 ANI is owned by businessman Antonio Tiu, who was dragged into the controversy

surrounding former vice president Jejomar Binay’s supposedly ill-gotten wealth.

AGRINURTURE Inc., the listed agribusiness company of businessman Antonio Tiu, said

it is in discussions with an Asian partner to pour an initial $100 million, or about P5 billion, for a

new microfinance program to assist in the productivity of farmers nationwide. The $100 million,

he said, will serve as initial seed money for ANI’s planned Agri Token program, a move that is

part of its technology transformation.

Tiu, who is ANI’s president and CEO, said farmers can use the tokens to buy from

accredited merchants what they need to produce crops, such as fertilizers. They can easily tap the

credit using their smart phones upon accreditation.

Tiu said this is better than lending cash that may otherwise be used for nonfarm purposes.

“With the token system, you can buy from accredited merchants. You can buy, for example,

hybrid seeds and fertilizers you need to produce high-quality rice,” Tiu said.

He said the tokens are not virtual currency, and the program would not be taking

investments from the public, but instead be funding farmers’ productivity costs.

ANI plans to launch its Agri Tokens within the next two months, with initial

implementation in Luzon and Mindanao focused on two crops like rice and banana. If the

program succeeds, ANI would cover the rest of the country and add more crops to the coverage

of the program.

“What we really want to achieve right now is transformation in technology. I want to

make agriculture sexy so you can inspire the millennials,” he said.

3
 ANI is one of the country’s major exporters of fruits to the world market. It recently has

added rice to its portfolio and would soon be importing rice from Vietnam in line with the

government’s rice importation program.

In a regulatory filing, ANI said it was recognized by the NFA as an original proponent

for a public-private partnership project that aims to supply rice to beef up the agency’s inventory.

Based on the proposal, ANI will finance the procurement of up to 500,000 metric tons (MT) of

rice with the NFA identifying the specifications and exact volume needed.

Both parties, meanwhile, will determine the origin, suppliers, delivery and arrival

periods, pacing and loading, and discharging ports of the imported rice. The company maintained

that NFA has no risk or exposure to losses as all risks shall be borne by ANI from the time of

purchase up to the point of dealing with undisposed stocks.

The additional supply, which is equivalent to about two weeks, aims to boost NFA’s

dwindling buffer stock.

AgriNurture Inc. (ANI) has been awarded as one of the country’s top mango exporters

and the only agro-commercial company with a fully integrated farm-to-plate model for both the

local and export markets. ANI is listed in the Philippine Stock Exchange where its stock is

actively traded.

ANI and its subsidiaries distribute fresh and processed food products to both local and

export markets; it also operates its own processing facilities, as well as retail outlets through its

brands Big Chill and Super Fresh fruit juices, Tully’s Coffee, among others.

4
 AgriNurture Inc. is putting in an additional capital of P100 million to affiliate

Agricultural Bank of the Philippines, subject to the final approval of the Securities and Exchange

Commission and the Bangko Sentral ng Pilipinas.

AgriNurture said in a disclosure to the stock exchange the P100-million capital infusion

would increase ABP’s authorized capital stock to P200 million.

The company said ABP’s capital increase would fund the expansion of the bank’s P2P

platform and e-wallet business. Through the capital infusion, the company aims to enhance

supply chain micro-finance access of Filipino farmers in remote areas using technology.

AgriNurture president and chief executive Antonio Tiu said ABP’s P2P platform would

allow farmers to borrow money directly using their mobile phones. The proceeds of the loan can

then be stored in the farmers’ e-wallet which can be exclusively used for purchases in ANI’s

accredited merchants nationwide.

Meanwhile, the company’s board of directors approved the incorporation of Agri

Technology Holdings Inc., a 100-percent owned subsidiary, with an initial capital of P100

million. The move is in line with the company’s goal to complete the farm-to-plate agri-eco

system for immediate fintech integration.

The new subsidiary will serve as the company’s post-harvest and farm technology arm. It

will collaborate with hybrid seed producer BeiDaHuang and agri-biotech company Ocean

Biotech, both ANI subsidiaries.

AgriNuture, meanwhile, disclosed that the company’s board of directors approved a

P320-million subscription of Japanese investor Takuhiro Kusumi in the agriculture firm, subject

to the foreign equity limits set by law.

5
 Stock Data of AgriNurtire, Inc. as of September 03, 2019

Status Open Market Capitalization 15,783,248,364.00

Issue Type Common Outstanding Shares 1,018,274,088

ISIN PHY002851178 Listed Shares 329,500,087

1,018,274,0
Listing Date May 25, 2009 Issued Shares
88

Board Lot 100 Free Float Level(%) 27.44%

Foreign Ownership
Par Value 1.00 40%
Limit(%)

Last Traded Previous Close 15.50 (Aug

15.42 Open 15.50
Price and Date 30, 2019)

Change(% down  0.080

High 15.50 P/E Ratio
Change) (0.52%)

Sector P/E
Value 15,485,568.00 Low 15.10
Ratio

Average
Volume 1,003,600 15.43 Book Value
Price

52-Week 52-Week
18.32 13.20 P/BV Ratio
High Low

6
 Annual

For the fiscal year ended : Dec 31, 2018

Currency (and units, if applicable) : Philippine Peso

Balance Sheet
Item Current Year Previous Year
Current Assets 2,781,014,397 2,384,619,482
Total Assets 4,933,303,156 4,046,842,676
Current Liabilities 1,897,627,416 1,887,929,017
Total Liabilities 2,228,634,851 2,523,707,019
Retained Earnings (Deficit) -2,358,811,263 -2,254,317,324
Stockholder’s Equity 2,704,668,305 1,523,135,657
Stockholder’s Equity-Parent 2,018,792,115 931,940,957
Book Value Per Share 3.26 2.28

Income Statement
Item Current Year Previous Year
Gross Revenue 3,835,940,202 2,096,962,338
Gross Expense 3,124,169,876 1,393,863,926
Income/(Loss) Before Tax 163,036,022 251,461,717
Net Income/(Loss) After Tax 25,694,992 191,050,344
Net Income/(Loss) -61,005,701 104,338,067

Attributable to Parent
Earnings/(Loss) Per Share -.03 0.16

(Basic)
Earnings/(Loss) Per Share -.03 0.16

(Diluted)

7
 References

Austria (2018). AgriNurture investing P100-million in bank unit. Retrieved September 02, 2019,

from

http://www.manilastandard.net/mobile/article/268144?

fbclid=IwAR3Q35FM9K3usZFqLq7j9Gu7ZmAn2CorN9umtTpdaOf1yfs7ltPGFRd0Ed4

Bloomberg L.P. (2019). Key Statistics of AgriNurture, Inc. Retrieved September 02, 2019, from

8
 https://www.bloomberg.com/quote/ANI:PM?fbclid=IwAR0rO-

eTTyEncpc4zczTYfBEqrBgsDnbpnvUQbU6rH-ovo8BqrEm6UAp7Vg

Gonzales (2019). AgriNurture earnings surge to P24 M. Retrieved September 02, 2019, from

https://www.philstar.com/business/2019/05/18/1918690/agrinurture-earnings-surge-p24-

Gonzales (2018). ANI infuses P100 M to affiliate agri bank. Retrieved September 02, 2019, from

https://www.philstar.com/business/2018/06/17/1825200/ani-infuses-p100-m-affiliate-

agri-bank

JobStreet (2019). Agrinurture Inc. Manufacturing/Production. Retrieved September 02, 2019,

from

https://www.jobstreet.com.ph/en/companies/493987-agrinurture-inc?

fbclid=IwAR2cUtcy0SaS57ak5pNKG_ceHEOAy6giER4mbiRDnwCkxCsWkDPL3xUX

dQ

Pesobility (2013). ANI Stock Quote. Retrieved September 02, 2019, from

https://www.pesobility.com/dividends/ANI?

fbclid=IwAR2cUtcy0SaS57ak5pNKG_ceHEOAy6giER4mbiRDnwCkxCsWkDPL3xUX

dQA

Reuters (2019). AgriNurture Inc (ANI.PS). Retrieved September 02, 2019, from

https://www.reuters.com/finance/stocks/financialhighlights/ANI.PS?

fbclid=IwAR2Krw63teSOnO1KvZFsfz8yoA-g4hebDJ5RHYKojBOIP19uwQldxUBaZtg

9
Simeon (2018). AgriNurture Inc. gains competitive edge in rice supply bid. Retrieved September

02, 2019 from

https://www.philstar.com/business/2018/08/17/1843169/agrinurture-inc-gains-

competitive-edge-rice-supply-bid

The Philippine Stock Exchange, Inc. (2012). Company Information. Retrieved September 02,

2019

from http://edge.pse.com.ph/companyInformation/form.do?

cmpy_id=619&fbclid=IwAR2cUtc

The Society of Honor (2013). The Big Dogs of Philippine Agribusiness. Retrieved September

02,

2019 from

https://joeam.com/2013/06/28/the-big-dogs-of-philippine-agribusiness/

VG Cabuag (2019). Agrinurture in talks with investor for $100-M seed fund. Retrieved

September

02, 2019 from

https://businessmirror.com.ph/2019/06/03/agrinurture-in-talks-with-investor-for-100-m-

seedfund/?fbclid=IwAR257gWMzPStJXc13Zx9e3bl0d18bsxQLqYs50E2opro54oyGlvmhaFdp0

10