Oceanus Group

[specuvestor]

Kitchen-sinking is a finance term saying to throw all the bad stuff in
http://www.economist.com/node/13714174

With the typhoon, now they can kitchen sink and blame everything on the typhoon. Just as the US airlines blamed their decades of incompetence on the great recession.

wow great time to kitchen sink

What is kitchen sink?????

[dydx]

Is there any good reason to invest in Oceanus at all ?

[orangetea]

Is there any good reason to invest in Oceanus at all ?

Business that depends on the elements / weather is unpredictable

Failure of the board is "being too far away" from farm and no accountability on the precious CEO.

Even now, after the episode, loss of abalones second time, it carries more debt and loss of confidence to all investors.

[pianist]

Maybe they bought some insurance?

[valuebuddies]

The vet is good (in talking)

[opmi]

Related - PRC aquaculture stock. Same story as Oceanus.

http://hkm.appledaily.com/detail.php?gui...e=20141104

國策解碼：扇貝成A股照妖鏡


■消失的扇貝正如一面照妖鏡，折射出A股的公司治理和監管水平。
「扇貝去那兒了？」成為A股市場最熱話題。深圳上市的水產股龍頭獐子島，三年前斥5億元（人民幣．下同）投放74億粒扇貝苗，秋風起要起撈，竟在上周四突然宣佈因遭遇異常冷水，已經全部死晒！公司由上半年盈利轉為勁蝕8億元。相關解釋漏洞百出，令投資界普遍懷疑，扇貝苗根本可能是子虛烏有。消失的74億粒扇貝，正如一面面照妖鏡，折射出A股公司治理和監管水平。


有股民要求，「死要見殼」，但公司管理層死撐，「死殼已被沖走」，總之信不信由你，有本事自己潛落海底查啦。最大疑點是，合作方中科院海洋研究所指，事件為幾十年一遇的大天災，但內地傳媒調查，附近漁民均未有聽聞。核數師年年審計，有中科院設立的海底24小時監測系統，更有券商發出的逾200份唱好報告，但全部都沒有指出扇貝可能已消失，一道道把關全部失守。


獐子島是內地明星股，社保基金和人壽保險均是大股東，都可以如此弄虛作假。滬港通終有一日會開通，事件提醒股民，投資A股要打醒十二分精神，即使有多家券商唱好，有中科院、社保基金等牌面照住，亦不足為信。

[touzi]

Article on CEO Peter Koh. Quite an interesting guy.

http://www.straitstimes.com/singapore/it...usy-towkay

[Bibi]

My opinion of him is he is not quite an honest guy, judging from the fact he can withhold info to his employers and clients.

[dydx]

Peter Koh, a Superman?

[weijian]

Oceanus in debt restructuring deal with key creditors

HOMEGROWN premium seafood supply chain manager Oceanus Group has entered into a binding term sheet with its key creditors in relation to a proposed debt restructuring. This is done by converting 76.4 per cent of its total outstanding debt to equity, substantially improving its balance sheet, it announced on Wednesday before the market opens.

http://www.businesstimes.com.sg/companie...-creditors