philippine tuna industry in the

Jonathan Y. Dee, CEO of Alliance Select Foods International Inc.If the Philippine government
does not investigate the Philippine tuna industry's big corporations such as Jonathan Dee's
Alliance Select Foods International, Inc., and it's shady business, thousands of people will be
jobless and their families will go hungry this Christmas and the entire tuna industry is going to sink
rotten at the bottom of the sea. Headed by shady businessman Jonathan Dee, Alliance Select
Foods International, Inc., has been repeatedly slapped with criminal cases for violating the
Philippine Corporation Code and is currently concealing the truth about its bankruptcy.
Singaporean investors who had been infusing millions of dollars to sustain Alliance Select Foods
International, Inc. operations have in recent years decried the company's CEO Jonathan Dee's
refusal to open its books amid indications of misuse of Alliance Select Foods International, Inc.'s
financial resources.
The Singaporean investors have since filed a criminal case against Alliance Select Foods
International, Inc. and its CEO Jonathan Dee and other executives for violating the Philippine
Corporation Code. The case remains pending in court.
Add to this the fact that the same people behind Alliance Select Foods International, Inc. which
is basically the Dee family are also pretty much the same people who ran First Dominion Prime
Holdings, Inc. (FDPHI) which used to own and operate a number of affiliates and subsidiaries
involved in the manufacture, marketing and distribution of canned tuna foods for both the
domestic and international markets.
This was before First Dominion Prime Holdings, failed to repay some P2.39 billion in loan from its
creditors in 2000 and subsequently entered rehabilitation in 2000. Alliance Select Foods
International, Inc. was then set up by Jonathan Dee as the milking cow that will ensure the cash
flow used to bail out First Dominion Prime Holdings.
Now, these same investors who took Alliance to court over the lack of transparency in the
company's financial position and transactions have voiced suspicion that Alliance Select Foods
International, Inc. was being used to pay off the loans incurred by the Dee family while they were
running FDPHI.
As if these indications are still not enough to see where Alliance Select Foods International, Inc. is
heading, a fishing vessel owned by Wild Catch Fisheries (a joint venture firm where Alliance
Select Foods International, Inc. owns a 40% stake) sank in September this year purportedly due
to inclement weather. Jonathan Dee did not ensure the vessel at the time of the accident.
While Alliance Select Foods International, Inc. investors are seeing the downward spiral of the
Alliance Select Foods International, Inc.'s finances, Alliance's CEO Jonathan Dee keeps on
getting more and more foreign investors to conceal the company's real situation which is headed
for bankruptcy.
Alliance Select Foods International, Inc. inevitable bankruptcy is just following Citra Mina Group of
Companies' subsidiary that declared bankruptcy in October 2013. Also in General Santos City,
the company's more than two hundred tuna workers lost their jobs, and have been pushing the
company to give them back the jobs they lost. While the fight has been on for a year now, their

families go hungry.
If Citra Mina Seafoods Corp. made more than two hundred workers jobless when it shuttered in
2013, how many more do you think will lose their livelihoods if and when Alliance Select Foods
International, Inc., the biggest tuna canning company in the country is forced to declare
bankruptcy?
Again, those at the top like Alliance Select Foods International, Inc.'s CEO Jonathan Dee would
continue to enjoy the fruits of the resources they amassed while still in the company. And the poor
workers who are paid with measly wages will be forced to resort to loan sharks for their
subsistence.
There are many and bigger challenges now facing the Philippine tuna industry not the least of
which is the looming possibility that the EU will close its doors on imports coming from the
Philippines over concerns on illegal, unregulated and unreported fishing here.
But before any player in the tuna industry is ready to face the bigger problems, it has to first
demonstrate good corporate governance.
Companies like Alliance Select Foods International, Inc., are poorly managed, financially unstable
and tolerant of unsustainable business practices cannot and will not do anything to save the
Philippine tuna industry. Companies that are bankrupt cannot and will not do anything to save the
Philippine tuna industry.
The first order of business is this: that the local companies first put their houses in order by
satisfactorily addressing grievances coming from its own ranks and exercising prudence in their
dealings both with their internal stakeholders and the public before they face the rest of the
world and fix the problems at bay.
Only then can the Philippine tuna industry really go after the big fish.

For more details, check out For 2 Singaporeans, something's fishy about Alliance Select Foods
http://manilastandardtoday.com/2014/04/10/for-2-singaporeans-something-s-fishy-about-allianceselect-foods/
and Row at Alliance Select worsens; Singaporeans oppose new investors
https://ph.news.yahoo.com/row-alliance-select-worsens-singaporeans-oppose-investors161759458.html