Quarterly report pursuant to sections 13 or 15(d)

ACCOUNTS PAYABLE - RELATED PARTIES

v2.4.0.8
ACCOUNTS PAYABLE - RELATED PARTIES
6 Months Ended
Jun. 30, 2013
Accounts Payable Related Parties [Abstract]  
Accounts Payable Related Parties Disclosure [Text Block]
 
16.
ACCOUNTS PAYABLE - RELATED PARTIES
 
Accounts payable to related parties as of June 30, 2013 and December 31, 2012 consisted of the following:
 
Merchant Supreme
 
 
 
June 30, 2013
 
December 31, 2012
 
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
PT. Avona Mina Lestari
 
$
-
 
$
5,589,681
 
Fuzhou Honglong Ocean Fishery Co., Ltd.
 
 
-
 
 
175,951
 
 
 
$
-
 
$
5,765,632
 
 
Accounts payable to related parties are not collateralized, carry no interest, and do not have specific repayment terms.
 
Deposit on setting up Joint venture netted off with accounts payables – related parties.