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Hello. Oceanus abalone are farmed inland in China. Not from the sea, and not from Japan.... Do research first.
albeniz ( Date: 15-Mar-2011 22:31) Posted:
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Following the earthquake and tsunami, there were a few explosions at the nuclear power station. Nobody dares to eat abalone for fear of radiation.
Business is likely to fall.
Personally I would look to buy this ticker now ....
with recent earthquake/tsunami in Japan, abalone future production looks to hit hard .... the market is already expecting a 20-30% rise in prices over the next few months ...
oceanus seems like a big beneficiary since all their business is in China ..
from the price prespective, it has already been battered to earth so it does looks oversold at the moment....
Looking at below 0.20 before end of this week. Sorry.
bsiong ( Date: 02-Mar-2011 12:29) Posted:
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OCBC downgrades Oceanus Group (579.SG) to Sell from Hold and cuts its fair value estimate to $0.19 from $0.32, citing a lack of clear catalysts and unjustified valuations after its 4Q net profit missed expectations.
“Out of the group’s three business segments, only Processed Marine Products (which accounts for 30% of group sales) performed well,” the house says, adding that Oceanus’ “restaurant expansion is too fast, too furious” with costs exceeding revenue growth.
“Oceanus has been underperforming expectations for several quarters. Based on its recent performances, this suggests that there are high execution risks surrounding its expansion,” the house says. “We previously valued the group at 1.8X NAV on the premise of super-normal growth, but in view of uncertainty surrounding its profitability and growth, we now value the stock at parity.”
Shares are flat at $0.225.
/theedge/
I start selling taking huge profit all my Oceanus holding, out of my stock portfolio in 2011 ! Buy my CHINA JISHAN and SHANGHAI TURBO today!
Oceanus Group Ltd: FY10 sharply below expectations
Summary: Oceanus Group (Oceanus) reported its FY10 results this morning with sales climbing 19% to RMB432.9m. Gains from fair value changes, which is reported at the top line, fell 10% YoY to RMB583.4m due to flat abalone prices coupled with a young population of caged abalone. Reported net profit declined by 46% YoY to RMB188.5m. This was sharply below both our RMB321.6m estimate and consensus’ RMB366.5m forecast. For its 4Q10, sales gained 8% YoY to RMBm135.0m after higher sales of processed marine products and food and beverage offset a decline in sales of live marine products. Gains from fair value changes fell 63% YoY to RMB63.9m, and the group slipped into a net RMB29.0m loss for the quarter. The group’s loss-making Ah Yat Tian Xia restaurant chain remained a drag with net losses widening from RMB9.5m in FY09 to RMB59.4m in FY10. We are in the process of reviewing our estimates and expect to cut our projections. As such, our previous Hold rating and S$0.32 fair value estimate are under review. (Lee Wen Ching) iocbc
Summary: Oceanus Group (Oceanus) reported its FY10 results this morning with sales climbing 19% to RMB432.9m. Gains from fair value changes, which is reported at the top line, fell 10% YoY to RMB583.4m due to flat abalone prices coupled with a young population of caged abalone. Reported net profit declined by 46% YoY to RMB188.5m. This was sharply below both our RMB321.6m estimate and consensus’ RMB366.5m forecast. For its 4Q10, sales gained 8% YoY to RMBm135.0m after higher sales of processed marine products and food and beverage offset a decline in sales of live marine products. Gains from fair value changes fell 63% YoY to RMB63.9m, and the group slipped into a net RMB29.0m loss for the quarter. The group’s loss-making Ah Yat Tian Xia restaurant chain remained a drag with net losses widening from RMB9.5m in FY09 to RMB59.4m in FY10. We are in the process of reviewing our estimates and expect to cut our projections. As such, our previous Hold rating and S$0.32 fair value estimate are under review. (Lee Wen Ching) iocbc
Whatever, I sold all already. I expect it to go to 10 cents.
hyruga ( Date: 23-Feb-2011 11:10) Posted:
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SGX-listed Oceanus Group, the integrated value chain player in the abalone industry and world’s largest land-based abalone producer, posted a 46% fall in total sales to RMB188 million ($36.4 million) in FY2010 from RMB343 million in FY2009.
Group revenue rose 10% to RMB786 million in FY2010 from RMB718 million in FY2009.
This was led by an 11% increase in its sales of live and processed abalone to RMB361.6 million. FY2010 net profit however decreased due to the decrease in fair value gain, increase in interest expense and impairment charges from the restructuring of the restaurant business.
/theedge/
I wont say the directors are dishonest. I just think they did a good job hyping up this shares with marketing.
The company is performing poorly because more and more companies are venturing into abalones and the profit margins keep decreasing every year as abalones is seen as relatively abundant now. That said, it wasnt easy to grow abalones to big-size in a short amount of time. So oceanus is trapped in a market even if its no of sales increased, its net profit will still decrease due to lower profit margin.
However, they are venturing into lobsters and stuff also. Overall, my TP for this company: 20cents.
To be honest, all company directors in Singapore and Asia don't grow up in an honest surroundings, so you can't blame them for painting pictures that turn out not to be so true as painted. Every company is the same, so which company directors are more trustworthy?
GuavaXF30 ( Date: 23-Feb-2011 08:59) Posted:
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Global market is in correction due to many reasons.. GenSp has great profit but the share price also falls...trade carefully now..
This management has always been painting bright picture for Oceanus. Make no mistake. There will be a gang-rape today after yesterday's pause..... The business/investments have just not been making it.
hotokee ( Date: 22-Feb-2011 10:03) Posted:
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The reason why I bought after selling off is I found these statements have not been totally pessimistic about the future.
3. Despite the decline in profits for the full year ended 31 December 2010 and losses for the
fourth quarter ended 31 December 2010, there is growing demand for the Group’s products
attributable to increase in demand in both overseas and PRC markets. The Board will
constantly review the Group’s strategies and operations with a view to improving its
business performance and shareholders’ return.
4. The Company is still in the process of finalizing the results of the Group for the year ended
31 December 2010. The information contained in this announcement is only a preliminary
assessment made by the Board based on information currently available. The Company
will provide more details of its financial performance when it announces the financial results
for the year ended 31 December 2010.
OCEANUS
bsiong ( Date: 22-Feb-2011 09:49) Posted:
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Oceanus Group Limited announced that following a preliminary assessment of the financial results for the 4Q and FY10, it is expected that the Group will report a decline in the consolidated net profit for the year ended 31 December 2010 compared to that of last year and a loss in the consolidated net results for the fourth quarter ended 31 December 2010. The expected decline in profits and losses in the consolidated net financial results of the Group is mainly attributable to a) drop in the gain in fair value of the Group’s biological assets in 2010 compared to 2009, b) higher net losses incurred by the restaurant business segment in 2010 compared to 2009 and c) higher interest expenses in 2010 compared to 2009 in respect of the convertible loan which was drawndown in second half of 2009.
There has been alot of selling in the counters. So be prepared to hold if you are buying. Selling are mostly from cut loss, I think and I will buy only small amount at a time.
hotokee ( Date: 22-Feb-2011 09:17) Posted:
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So I will buy some to keep.
Not really lah. Abalone business is a good business. The results were affected by restaurant business. By the way, I think it is now oversold, and basing on the last statement of the directors as follows, I think coming first half, the weather will good and less rainy seasons hopefully will help business improve.:
*************************************************************************
3. Despite the decline in profits for the full year ended 31 December 2010 and losses for the
fourth quarter ended 31 December 2010, there is growing demand for the Group’s products
attributable to increase in demand in both overseas and PRC markets. The Board will
constantly review the Group’s strategies and operations with a view to improving its
business performance and shareholders’ return.
4. The Company is still in the process of finalizing the results of the Group for the year ended
31 December 2010. The information contained in this announcement is only a preliminary
assessment made by the Board based on information currently available. The Company
will provide more details of its financial performance when it announces the financial results
for the year ended 31 December 2010.
Wah lau. Very fast becoming Abalone sai...
GuavaXF30 ( Date: 21-Feb-2011 15:35) Posted:
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You lucky. Those poor people who believed the talk about Chinese New Year good for abalone really kenn this time. This counter, just like Raffles Education, really cannot make it.
hotokee ( Date: 21-Feb-2011 14:23) Posted:
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