Oceanus Group

[DP28]

Maybe Mr Wu could have poison the well and kill all the abalone?

If china can have poison milk powder, what is dying abalone. They switch their product line from abalone to sea cucumber and now back to abalone..

Really wonder how profitable can it get

[Dividend Warrior]

The temperature in China was especially hot the past few weeks......

[Dividend Warrior]

Result is out.

http://infopub.sgx.com/FileOpen/OGL_2Q20...eID=252021

Not good......

[felixleong]

man this is a sinking ship
really pity those punters that boarded this pirate ship

[Contrarian]

Cash level low now... think maybe the shell of the company worth more...

[DP28]

They recently did a rights issue to recapitalised their books. I wondered where the money go to...

[Madmoney]

It is interesting to note that thoughout this whole episode since 2012, the chinese men have been protrayed as the potential cause for the mystery death of the millions of abalones. However, many people who bought into this stock have no idea who these chinese men are. Many could only remember the promising story from Mr Ng - on the Edge Magazine, on the Straits Times, on the TV etc etc before 2011. Mr Ng is the only recognisible face in Oceanus. Now could only hope that he can do magic ..

[Dividend Warrior]

The board of directors (the “Board” or “Directors”) of Oceanus Group Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the latest news coverage on Typhoon Usagi that passes through the Luzon strait separating the Philippines and Taiwan, moving on a path towards Hong Kong at the foot of the delta.

As Typhoon Usagi hit Guangdong, coastal Zhejiang and Fujian provinces in China where the majority of abalone production is sited, the Board was informed by the China production team that industry-wide damages were caused to abalone farmers and manufactures in these affected areas. Some of the facilities in the Group’s abalone farms that are located in Guangdong and Fujian provinces were damaged. The Hui Lai Farm, the Gu Lei Farm, the Fo Tan Farm and some abalone farming and production facilities (and to a lesser extent biological assets) were affected to some extent.

The information available to the Board at this juncture is very preliminary. The typhoon has cut off the access to some of the farms due to road damage, blockages and adverse weather, and electricity and phone availability has been disrupted. The management team will be visiting all the farms to assess the damages caused and update shareholders on the details of the disruptions caused to the Group.

The Company will make timely announcements to update Shareholders as more accurate and comprehensive information is made available. In the mean time, before there is more clarity on the above matter, Shareholders are advised to exercise caution in trading in the Company’s shares.

[specuvestor]

wow great time to kitchen sink

[Greenrookie]

wow great time to kitchen sink

What is kitchen sink?????