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OCEANUS (No.1 in abalone farming): Venturing into Post Reply Rate topic
WanSiTong Master	13-Aug-2013 18:16        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=886441& fileId=OGL_2Q2013_ResultsAnnc_final.pdf 10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the Group in the next reporting period and the next 12 months The abalone industry is at the moment at the low end of the cycle as a result of the recent wave of austerity measures implemented by the central government. Abalones, like other luxury consumer goods, are more severely affected by these measures. Demands by sea farmers for juvenile abalones to grow out as well as live abalones for the consumer market have been depressed and prices have weakened. This trend is expected to continue at least for the rest of the year. While the Group has a successful breeding season as reported in 1Q 2013, the many juveniles raised did not sell well as planned in 2Q 2013 due to poor demands. Given the current overcast on the industry, the Group could only select the better 250 million juveniles for further growth without putting more pressures on tank capacity and funding while culling the rest. To better utilize the available funds and farm resources, the GM and CFO were tasked to review and submit the latest 12 - 24 months rolling sales plan and cash flow forecast so that the Group can re-look at its current strategy and make modifications where necessary. With the industry at its worst performance, consolidation is bound to happen and this can be viewed as an opportunity to profit for those enterprises that survive this episode. To augment operations and for top management as well as the Board to have a better grip of the business with greater transparency and information flow, the Group has identified a Chief Operating Officer and a Chief Risk Officer to be based in China as necessary positions to have. The candidates will soon be announced. Following the AGM of the Company on 31 July and changes to directors at the Board level, the Group was notified of substantial and abnormal mortalities in the few days after the AGM. The details of this sudden trigger of events were announced via SGXNet on 11 August 2013. The Company is vigorously investigating into the cause and current situation of this event and trying to verify the information relayed up to this point to the Board. The Group will make timely announcements to update shareholders on this adverse matter as and when appropriate.   WanSiTong      ( Date: 13-Aug-2013 18:12) Posted: here is the 2Q13 results http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=886441& fileId=OGL_2Q2013_ResultsAnnc_final.pdf
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Peter_Pan Supreme	13-Aug-2013 18:15        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	Still have some juicy ones left...any takers??? Peter_Pan      ( Date: 12-Aug-2013 13:42) Posted: Who still want to eat their abalone???
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halleluyah Elite	13-Aug-2013 18:12        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	Guess will b below 2cts n  will b  suspended fr many mths.
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WanSiTong Master	13-Aug-2013 18:12        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	here is the 2Q13 results http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=886441& fileId=OGL_2Q2013_ResultsAnnc_final.pdf
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KepoChicken Senior	13-Aug-2013 18:02        KepoChicken About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am sorry to say that if such announcement out...100% is bad news already...not so easy lifting the stock already
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height00 Senior	13-Aug-2013 17:53        height00 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Who dare to insurance them so high risk dead stock suspended
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Tomique Master	13-Aug-2013 12:16        Tomique About Contact  Quote this Post!
x 0   x 0  Alert Admin	Aiya! Respect, respect!! Never thought of it.   Now no worry, think insurance, think coverage!!! No lose lia even if report of mortality is abnormal!!  louis_leecs      ( Date: 13-Aug-2013 11:38) Posted: this is not the first time, so i think they got buy insurance to cover it,,,,hope this time can get back money from insurance company,,,still hope for those holding,at least can sleep well,,,,,im not vest brcause live stock very risky,,,,
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louis_leecs Elite	13-Aug-2013 11:38        louis_leecs About Contact  Quote this Post!   Mood: Yells: "half cash"
x 0   x 0  Alert Admin	this is not the first time, so i think they got buy insurance to cover it,,,,hope this time can get back money from insurance company,,,still hope for those holding,at least can sleep well,,,,,im not vest brcause live stock very risky,,,,
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ysh2006 Senior	13-Aug-2013 11:34        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	After investigation hope no recall of products like NZ milkpowder, abalone still can be eaten no poision hor.... (My extreme thinking only )
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sk6666 Veteran	13-Aug-2013 11:33        sk6666 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can dead abalones (if is not poisonous) be salvage?
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oldflyingfox Master	13-Aug-2013 11:32        oldflyingfox About Contact  Quote this Post!
x 0   x 0  Alert Admin	It was all politics, seem there was a fight within the top management and all the shareholders will suffer. So sad.
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dingbat Senior	13-Aug-2013 11:28        dingbat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oceanus Group Limited is a Singapore-based investment holding company. The Company is engaged in three businesses: aquaculture production, abalone processing and distribution, and food and beverage. The Company operates four segments: live marine products, which includes cultivation and sale of abalone and others processed marine products, which includes processing, refrigeration and storage of canned marine products food and beverage, which includes dining management, provision of dining management advisory services, and investment holding. The Company is also engaged in the business of vacuum packing, canning, drying and/or curing abalone for distribution worldwide. On May 6, 2010, the Company's subsidiary, Oceanus Food Group Pte. Ltd. incorporated a wholly owned subsidiary in Taiwan. On December 14, 2010, the Company incorporated a 70% owned subsidiary in Hong Kong, known as Oceanus Food Group Limited. Even if all the cultivated abalones were wiped out, it would be a set-back back  but not a cataclysmic one that shuts down Oceanus. Go to the frozen section of your supermkt, you can find many of their seafood by-pdts  available. It's definitely a  good thing  they suspended trading  as quickly as they did  when the abalones mass  croaked.  Shows management is  on its feet  as opposed to  the jiak liao bee  Dr .
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WanSiTong Master	13-Aug-2013 11:25        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	http://infopub.sgx.com/FileOpen/OGL_Request_for_Trading_Suspension.ashx?App=Announcement& FileID=251629 WanSiTong      ( Date: 13-Aug-2013 11:23) Posted: http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementLast3MonthsByCompanyNameAndCategory& F=886082& fileId=OGL_Request_for_Trading_Suspension.pdf Peter_Pan      ( Date: 13-Aug-2013 11:18) Posted: Can provide the link? Thanks
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WanSiTong Master	13-Aug-2013 11:23        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementLast3MonthsByCompanyNameAndCategory& F=886082& fileId=OGL_Request_for_Trading_Suspension.pdf Peter_Pan      ( Date: 13-Aug-2013 11:18) Posted: Can provide the link? Thanks! sk6666      ( Date: 13-Aug-2013 11:06) Posted: Thank you wansitong. So,St Times is reporting the news we read on sgx website. No new reporting yet right? I saw one forumer wrote " ALL Dead" over the other thread. Thot was new reporting.
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Peter_Pan Supreme	13-Aug-2013 11:18        Peter_Pan About Contact  Quote this Post! Style: Flexible   Mood: Yells: "did you order dunkin' donuts"
x 0   x 0  Alert Admin	Can provide the link? Thanks! sk6666      ( Date: 13-Aug-2013 11:06) Posted: Thank you wansitong. So,St Times is reporting the news we read on sgx website. No new reporting yet right? I saw one forumer wrote " ALL Dead" over the other thread. Thot was new reporting.
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WanSiTong Master	13-Aug-2013 11:14        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Ya No new reporting. Still got some hope!! sk6666      ( Date: 13-Aug-2013 11:06) Posted: Thank you wansitong. So,St Times is reporting the news we read on sgx website. No new reporting yet right? I saw one forumer wrote " ALL Dead" over the other thread. Thot was new reporting.
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sk6666 Veteran	13-Aug-2013 11:06        sk6666 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you wansitong. So,St Times is reporting the news we read on sgx website. No new reporting yet right? I saw one forumer wrote " ALL Dead" over the other thread. Thot was new reporting.
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WanSiTong Master	13-Aug-2013 10:58        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Wouldn't die totally! Oceanus' 2 main business segments are aquaculture production and abalone processing and distribution. It also operates the Ah Yat chain of restaurants. with outlets in China, HK, Taiwan & S'pore. Tomique      ( Date: 13-Aug-2013 10:20) Posted: If all die, then Oceanus finish liao.   If only some died, then still got hope. WanSiTong      ( Date: 13-Aug-2013 10:16) Posted: Oceanus suspends trading over " abnormal deaths" of abalones (source: Today's ST Money B13) ..............The death started the day after the AGM when Mr Wu lost his Board seat..............
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WanSiTong Master	13-Aug-2013 10:52        WanSiTong About Contact  Quote this Post!   Mood:
x 1   x 1  Alert Admin	Oceanus was notified on 2 Aug and again on 5 Aug of " substantial and abnormal" death of abalones at its China farms within a very short span of time. The  statement did not link the reports of abalone deaths with Mr Wu's departure except to say they had happened at around the same time. The deaths started the day after the AGM when Mr Wu lost his Board seat. The Board is carrying out all necessary investigations to look into the situation. sk6666      ( Date: 13-Aug-2013 10:21) Posted: Can sumarise the content? All dead?
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sk6666 Veteran	13-Aug-2013 10:21        sk6666 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can sumarise the content? All dead?
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