On Apr 2, Oceanus Group executive director and group CEO Peter Koh acquired 10 million shares at S$0.007 per share. This increased his total interest from 12.03 per cent to 12.07 per cent. His preceding acquisition was through a married deal in March 2024, through a sale and purchase agreement for 509,231,363 shares at S$0.008 apiece, from Sigma Shares. Koh has been gradually building his interest since 2017. 

 

He has been the CEO of Oceanus Group since December 2014, leading the company&rsquo s strategic expansion beyond farming and contributing to its debt restructuring in 2017. Under his leadership, Oceanus exited the SGX watch list in September 2021, marking a significant corporate turnaround. With more than 30 years of diverse experience, Koh is also involved in various aquaculture innovation bodies and sustainability committees. 

 

His recent acquisition took place five weeks after the group released its FY2024 (ended Dec 31) results. On Feb 28, Oceanus Group announced full-year revenue of S$290.6 million, marking a 16 per cent decline from its record high S$344.3 million revenue in FY2023.

 

The decrease was attributed mainly to the group&rsquo s streamlining efforts, which involved scaling back certain businesses &ndash such as media, fruit trading and business-to-consumer e-commerce distributions &ndash to concentrate on higher-growth areas. The cost-cutting measures led to a 6 per cent decline in operating expenses to S$19.9 million.

 

Meanwhile, it had a significant increase of 143 per cent in other operating income to S$7.1 million, due to gains from the disposal of interests in a subsidiary, as well as higher commission-based income during the fiscal year.

 

The group also noted that the timing mismatch between revenue recognition and cash collection, coupled with working capital adjustments and non-cash accounting entries, resulted in a net cash outflow from operations for FY2024. 

 

Koh had previously expressed his enthusiasm for the group&rsquo s tech-up efforts. Along with its FY2024 results, Oceanus Group announced it had obtained approval to acquire a controlling stake in Opal Fintech.

 

The group said the strategic move bolsters its financial infrastructure and digital capabilities, enabling it to integrate advanced cross-border payment technology and multi-currency processing solutions into its global operations.

 

It added that its acquisition of Opal Fintech places it at the forefront of fintech innovation, facilitating faster settlements, greater transaction transparency and improved regulatory compliance. This is also expected to enhance the Oceanus Digital Network, which has processed more than S$200 million in global food trade payments in the past year. 

 

By integrating fintech solutions, digital platforms and artificial intelligence-powered insights, Oceanus Group asserts that it is building a resilient, technology-driven ecosystem that enhances transparency, efficiency and sustainability across the global food supply chain. This commitment is encapsulated in its vision of food security that creates &ldquo food without borders&rdquo