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Thanks and yes.....I do got what you meant by the kampong gangsters. Hopefully they can understand their situation and that of Oceanus. And work towards mutual gains. Frankly whoever in charge of the operations there has what it's takes to walk the fine lines of diplomacy and firmness in dealing with these gangsters. In the first place Oceanus shouldn't be dealing this type of people. Guessed Singaporean is clueless and too trusting.....in China its dog eats dog and we may not be suited there. Even our government board also screwed up by them eg Suzhou industrial park. So here we are starting again from scratch, craps!!
Demostation ( Date: 26-Feb-2016 09:23) Posted:
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Nah, laws will be followed by most educated people. It is those gangsters in the " kampong" area that previously gave problems to Oceanus. But I think with strict laws nowadays, these gangsters are probably not so daring as before to sabotage Oceanus.
However, I beleive the management must learn how to use both " hei bai liang tao" to deal with the situation. No corruption, but be friendly with their heads and give respect and some benefits to them. Of course the ex-chairman/ceo still have interests in the company in terms of shareholdings, so he might want to see the company survive so he could get back some of his investments. Diplomacy is needed in this kind of situation.
Just thinking about what happened before in the company, but hope there is no misinterpretation myself, lol..
lglg666 ( Date: 26-Feb-2016 00:30) Posted:
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If this is true then this Oceanus is a goner becoz things will become messy soon. And knowing the Chinese BB they don't follow the laws and reasoning in any settlement.
junction ( Date: 25-Feb-2016 12:18) Posted:
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Still having this problem? Or they have get over this problem?
junction ( Date: 25-Feb-2016 12:18) Posted:
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That is why the directors and management are very important. Oceanus in charge in China gave the company hell when they tried to remove him. Abalones got poisoned. Accounts not accountable ....
lglg666 ( Date: 25-Feb-2016 10:50) Posted:
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Very true.....a bunch of crappy laymen trying to learn business with others' capital and hopes. Maybe they will be better off be story tellers. Craps!!
Demostation ( Date: 24-Feb-2016 21:02) Posted:
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hard to imagine what all those fat cat managers/ceocfocoochairmanindependentdirectorsexecutivedirectorsnonexecutivedirectors are doing everyday in their aircond office - with a paltry sales of less than $60000 per month 2015 --- even some food court noodle stall can outsell oceanus sans all those fat cat managers.. a pitiful sight to see so many overpaid chefs hired just to cook a few bowls of chicken noodles soup. suppose a lot of management skills needed to raise fund, to roll over loans and to make canned PR annoucements.. for every one dollar salary paid to these fat cat management, they generated few cents worth of revenue for the company in return - still braced to be the largest landbased abalone farms in the world plus lobster farming plus shrimp farming plus fish farming plus sea cucumber farming... move aside david copperfield.
Obviously the people running the business are inapt in managing it. Given so much money over the years to help them overcome temporary difficulties, they have squandered the investments and turned the temporary difficulties into permanent ones without coming up with any good effective plans to get the company on firm footing. We can only classified them as lousy businessmen, they will not go far in life. Only know how to spoon feed themselves with the funds provided by others. They really know how to use the " maxim" of using other people' s money (OPM) to survive. Lol.
new ceo prided himself about cutting expenses from $XX millions to just $5millions a year - in other words, for many years the previous fat cat management had been grossly overspending shareholders' fund blindly while awarding themselves fat bonues. what a load of fat xxxxx...
...next AGM must ask new ceo how many more $millions loss before he can generate profitable sales to cover the 5millions expenses. what a text book case study for business school to demonstrate classic case of what went wrong with fat clueless management. rmb$billions shit down the drain.. hard to swallow that such classic hopeless company appear on SGX for so long...
Repeat : the BB already gave up on this - technically bankcrupt with negative net assets - zombie counter. inside leak said BB waiting for the land claim compensation from china government - some RMB$100-200millions for the forced closure of the farms to make way for petrochemical industrialization -- when this claim fund finally reaches singapore - earmarked to pay the outstanding $$$$$ loans from some of the BBs... strange to see not much info or annoucement on this RMB$ compensation in progress.
Now 2016......the business is still as crap as ever, that fat sh.it is still spinning fairytale? At the meantime the share price is near to next to crap. Why not do a RTO since it so low?
OXDEVIL ( Date: 04-Mar-2015 15:48) Posted:
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One year has passed.....still the share price is next crap!! Lol
OXDEVIL ( Date: 04-Mar-2015 15:48) Posted:
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Bro... i think most ppl get your repeated reiteration.. definitely will avoid this counter...
For those who are still holding this counter... better cut fast... instead of spending time cursing and swearing in the forum
Chairman Ng said AGM 2012 ::
Based on current live prices in China, the 10 million could fetch RMB1 billion, said Dr Ng.
" So it means 2013, 2014 we will improve. In 2015, the result will be very good. Beyond 2015, we should have a stable business if we still have the same number of tanks and we are not expanding the business."
If all the predictions and forecasts and annoucements made turned out as stated, this counter should be worth $9.00 instead of $0.009.
Will the management cough back all the past BONUSES - clearly their management skills demonstrated thus far DO NOT JUSTIFY the fat bonuses granted by the very same management.
Just wondering MAS is going after who? A shareholder, a staff or the bank?
Oh oh. MAS Calls for surrender of books.
REQUIREMENT FOR THE PRODUCTION OF INFORMATION OR BOOKS UNDER SECTION 163
OF THE SECURITIES AND FUTURES ACT, CHAPTER 289 (" SFA" )
The board of directors (the " Board" ) of Oceanus Group Limited (the " Company" ) wishes to announce that the Company has received a letter from the Monetary Authority of Singapore (" Authority" ) dated 24 February 2015 (the " Letter" ), informing the Company that the Authority is conducting an investigation pursuant to Division 3 of Part IX of the SFA, and has requested the Company to produce information and documents in relation to an announcement on the SGXNet on 7 June 2013 concerning a proposed renounceable underwritten rights issue.
The Company understands that it is presently not the subject matter of any investigation by the Authority in relation to the subject matter of the Letter.
Small investors should pray everyday for SGX the official watchdog to keep a vigilant guard to give a fair chance with a level playing field.
SGX team of financial experts and investigators should monitor and filter those counters with telling signs of decomposition. One decomposed apple can easily contaminate the whole basket of good apples. If the apple is found partially rotten, cut the rotten part decisively and promptly to save the edible part. Leaving this partially rotten apple by itself, it is a matter of time before the apple is rotten to the core and becoming a breeding ground for maggots and flies.
Still wonder why SGX - competing with HangSeng for HIGH QUALITY HIGH STANDARD - would still allow this counter to be listed, let alone on the MAINBOARD ! A company with this kind of financial performance and standing MAY NOT EVEN BE LISTED by BANANA' s REPUBLIC STOCK EXCHANGE ! SGX should uphold higher standard than this ?
i Repeat, S ships are like ATBs, they are only good for one-night stand. Invest in such s chips at your own risk!
Dr.Ng ( the chairman ) once highlighted that OCEANUS obtained a very good comprehensive insurance coverage for the abalone farm operation. So did the insurance pay for all the losses incurred by the ' sudden death' of millions of abalones ?