Oceanus    Last:0.005   -

OCEANUS (No.1 in abalone farming): Venturing into

Bro,

Don't tell me you vested???

h0ly0wl      ( Date: 11-Aug-2013 23:46) Posted: once a junk always a junk. s chips pui!

 

I had said and warn many time  liao,

U can trade S-chip for short term, but don't ever invest S-chip for long term.

Oversea management hard to track, and if run road also very hard to catch. If want to invest, it safer to invest in local management company.

I think they going to check account liao, those holding no point keep thinking  too much. Wish nothing big happen to company fundamental and wish u all safe :)

 

once a junk always a junk. s chips pui!

 

Just to recall... in Nov 2011 the company responded to SGX queries.....

.....the Company has been primarily feeding the abalones with high quality seaweed which is very expensive during the period from May to November. In 2011, the number of abalones has increased, resulting in the exponential increment in its abalone feed cost. Accordingly, to reduce such cost and to increase profit for the Company, the production team decided to significantly reduce the usage of high quality but expensive seaweed and opt for cheaper but lower quality seaweed to feed the abalones. With the lower nutrient in the cheaper quality seaweed and the high water temperature during the summer season, immunity of the abalones was reduced significantly, thus resulting in high mortality rate of the abalones.....

History repeats itself???

 

 

 

Brief: Oceanus (SGX Symbol: 579) has requested for suspension.
11 Aug 2013 19:12
Oceanus (SGX Symbol: 579) has requested for suspension.

Time: 12/08/20130830 hours
Reason: Please refer to the Company's announcement released earlier on 11 August 2013 for further details.

 

=.=

 

As it turns out, PR bs. Insiders knew best and only  pros knew how to read the signs from the money trail  [price movement]-- mkt  price fell below rto price. sigh....

rabbitfoot      ( Date: 11-Aug-2013 22:12) Posted: Last weekend that Dr from Oceanus gave a rather hopeful and glowing interview after AGM. victortan      ( Date: 11-Aug-2013 22:06) Posted: I think oceanus is just the tip of the ice berg, with China slowing down to 7% all small business suffer silently. Look at those s-chip revenus down some 90%, how to survive, expecting more bad news from s-chip. if u have them,  i think it is best to leave early, never mind the lose, better then zero.

 

I saw today taiwan金 钱 爆 ， lobster demand oversupply ,,,,the price of lobster drop to all time low,,,,this investment may be not so good for Oceanus ,,,,,,,,,,

 

Last weekend that Dr from Oceanus gave a rather hopeful and glowing interview after AGM.

victortan      ( Date: 11-Aug-2013 22:06) Posted: I think oceanus is just the tip of the ice berg, with China slowing down to 7% all small business suffer silently. Look at those s-chip revenus down some 90%, how to survive, expecting more bad news from s-chip. if u have them,  i think it is best to leave early, never mind the lose, better then zero. dingbat      ( Date: 11-Aug-2013 22:01) Posted: Woah. You were right.   Only silver lining is that they have suspended trading to prevent kateks from circling for blood. It's a shrewd move. They have to salvage the mess. Fingers crossed....

 

I think oceanus is just the tip of the ice berg, with China slowing down to 7% all small business suffer silently.

Look at those s-chip revenus down some 90%, how to survive, expecting more bad news from s-chip. if u have them, 

i think it is best to leave early, never mind the lose, better then zero.

dingbat      ( Date: 11-Aug-2013 22:01) Posted: Woah. You were right.   Only silver lining is that they have suspended trading to prevent kateks from circling for blood. It's a shrewd move. They have to salvage the mess. Fingers crossed....  wxp8838      ( Date: 05-Aug-2013 11:33) Posted: I try to not think about this .crying louldly

 

Woah. You were right.

  Only silver lining is that they have suspended trading to prevent kateks from circling for blood. It's a shrewd move. They have to salvage the mess. Fingers crossed.... 

wxp8838      ( Date: 05-Aug-2013 11:33) Posted: I try to not think about this .crying louldly. ruready      ( Date: 05-Aug-2013 11:23) Posted: Climate at china now suddenly hot and cold,if I not wrong this few day temperature very hot ,,,

 

OceAnus really terrible!

 

My condolences to all the dead abalones......

What did that 'Mr Wu' do to the poor abalones?

China businessmen are scary!!! 

 

Sgx better do something, how can just after rights monies collection, they do this !

 

Reference is made to the announcement of Oceanus Group Limited (the ?Company?) dated 05
August 2013 in respect of the trading halt requested of the shares of the Company pending the
release of a further announcement.
The board of directors (the ?Board? or ?Directors?) of the Company hereby would like to further
request for a trading suspension of the shares of the Company and provide clarifications on the
same matter.
The Company previously announced that, at the Company?s annual general meeting convened
on 31 July 2013 (the ?AGM?), one of the resolutions tabled at the AGM to re-elect Mr Wu Yong
Shou (?Mr Wu?) as a Director of the Company was defeated by a 95.51% majority of the
shareholders of the Company (?Shareholders?) present and voting at the AGM. By way of
background, Mr Wu was appointed on 23 November 2012 as the Executive Director of the
Company and he serves concurrently as the General Manager of the Company?s China
subsidiary, Oceanus (China) Aquaculture Co., Ltd, tasked with the responsibilities of managing
the Company?s overall production and operations in China.
As a result of the AGM, Mr Wu retired at the conclusion of the AGM and has consequently
ceased as the Executive Director of the Company. Subsequent to the AGM, the Company further
announced the composition of the Board Committees on 01 August 2013 with the appointments
of new Directors.
While Mr Wu remains as the General Manager in charge of the Company?s China operations and
production in the interim of the Board re-composition, he became increasingly un-cooperative
towards the re-constituted Board ever since he was not re-elected as a Director of the Company
at the AGM. The Company was notified on 02 August 2013 and again on 05 August 2013 by the
Head of Production of the occurrence of substantial and abnormal mortalities of abalones at the
Company?s China farms within a very short span of time immediately following the AGM.
The Board has been unable to obtain a verification of the abnormal mortalities which started the
day after the AGM from the Group's finance team. In view of the circumstances leading to
receiving such a report, and the lack of verification of such mortality from the finance team, the
Company decides to request for a trading suspension of the shares of the Company, to ensure
that Shareholders and the public investors are not trading on incomplete set of information.The Board has actively engaged in all necessary investigations to look vigorously into the cause
and current situation of this event.
In addition, the Company is committed to making timely announcements to update shareholders
on the above matter as and when appropriate by the end of August 2013. The Company will seek
to lift the trading suspension as soon as it is appropriate to do so without compromising on the
interests of Shareholders.

yewhuan      ( Date: 11-Aug-2013 21:31) Posted: http://infopub.sgx.com/FileOpen/OGL_Request_for_Trading_Suspension.ashx?App=Announcement& FileID=251629

 

http://infopub.sgx.com/FileOpen/OGL_Request_for_Trading_Suspension.ashx?App=Announcement& FileID=251629

 

can someone pls copy news over? I can't open the link! Thanks so much

 

Management use the halt period and run away with all the money! Bankrupt

 

Just collected right issue money. .. come out with such rubbish. .. pui pui !!!!

 

Sighz........

The shareholders suffer again