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OCEANUS (No.1 in abalone farming): Venturing into
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Demostation
Supreme |
22-May-2015 11:51
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You have your point, but argument is just a point of view, not reality. This afternoon, you should attend the AGM and demand an answer, from the horse' s mouth. lol.
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OXDEVIL
Member |
22-May-2015 11:45
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To ascertain the true value of this BNY annoucement is just ask the management * how much sales of BNY abalones had been sold in the past 10 months outside of Australia ? If $144K every month, then whatever " profit generated" still not enough to pay for the salaries of the TOP management, let alone the $MIO interests bleeding daily. TOP management should be credited with their tireless efforts to make annoucements to buoy the $40MIO benchmark market capital. It just fell below $40Mio mark and voila the magic annoucement came in the nick of time to push it back. For the near term, believe that some interested players will keep this $40Mio market cap to avoid delisting. |
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OXDEVIL
Member |
22-May-2015 11:20
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There had been too many magic annoucements with not-so-good results in the past. BNY Australia is one of the smaller players in Australia and believed the boss is also from Mainland China. Ask the REAL market players , and they will tell you that BNY is having difficulty selling their abalones in the past 10 months. What is the REAL Motivation for BNY to " ADD" another layer of FAT when BNY practically knows all the market buyers more than Oceanus ? Harvard Case Study - how to support $40mio market cap with magic annoucements alone. |
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Demostation
Supreme |
22-May-2015 10:24
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" BNY shall grant Oceanus the exclusive right to sell, distribute and manage BNY' s products and customers in all countries outside Australia" , In other words, Oceanus could sell own abalones (probably processed and canned by BNY), and managing BNY' s other products and customers, giving Oceanus something for their bottomlines. Of course, nobody is sure of any success, but at least Oceanus now has survival chances.
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RoundRound
Elite |
22-May-2015 10:17
Yells: "Tikam Tikam can also" |
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Be very careful. Australia & New Zealand are 2 largest suppliers of abalone, sold at a reasonable priceespecially sold at source.
Do you think Aussies will buy and eat abalone from China? I smell fish here.
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Demostation
Supreme |
22-May-2015 10:14
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Formerly I have doubts about the future of Oceanus and sold everything at a loss. Then having been watching for some time dared not enter. Now with the news of abalone distribution agreement with the australian company, I am a little bit gaining confidence. Will enter at current levels. If proved that this agreement is a turning point, I could re-coup my losses, but if not, not much to lose. Will use $15K..to bet on this. Lol. |
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Demostation
Supreme |
22-May-2015 09:05
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Oceanus, BNY in abalone distribution agreementPUBLISHED ON MAY 21, 2015 10:06 PM
PRINTEMAIL
SINGAPORE - Abalone company Oceanus Group announced that it has entered into an agreement with BNY Trading to distribute canned and dried abalone products. BNY Trading is a seafood processor based in Queensland, Australia. " BNY shall grant Oceanus the exclusive right to sell, distribute and manage BNY' s products and customers in all countries outside Australia," Oceanus said in an announcement filed to Singapore Exchange on Thursday (May 21). The agreement also holds that BNY will sell its products in Australia using Oceanus' brand. |
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GuavaXF30
Elite |
22-May-2015 08:22
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Guys, please be careful. This counter really no substance/fundamentals. No cash, not much abalone stocks left, senior management keep getting fired. And huge amount of debts due. All the ingredients of a disaster waiting to happen. |
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Demostation
Supreme |
22-May-2015 06:54
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Oceanus may rocket up today..Huat for all vested, lol. |
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OXDEVIL
Member |
21-May-2015 15:18
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Tdy fell below $40mio mkt cap. Good chance that some punters will push it back to $40mio to stay out of the SGX watch list. |
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OXDEVIL
Member |
18-May-2015 17:31
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Noticed that some punters wanting to keep the magical $40Mio market cap for this counter -- the $40Mio being the benchmark SGX used for watch list. There seems to be a $0.012 magic buoy in this ocean. |
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OXDEVIL
Member |
18-May-2015 17:23
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Magic show. With a Q1 continued loss of $13mio and complete darkness ahead, this counter could still went up 9% one day after such dismay result ! These magical punters will push up the price by 90% if the company break even and 900% if they company makes profit ? No wonder SGX continues to welcome such counters - adding the magical touch to the road show. |
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OXDEVIL
Member |
16-May-2015 12:36
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# of farmed abalones stock as of end March 2015 was 90K unit, if they sell all these at 100% profit for the Q2 = $69000 sales. Not enough to pay for the salaries of all the brainy CEO CFO COO CHAIRMAN-O etc. Easily another $10Mio loss for Q2. Wait n see what magical restructuring can stop the bleeding and turn the sales 1000 fold, just to break-even. |
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OXDEVIL
Member |
16-May-2015 12:26
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Losing and burning cash at the current rate ( $4.5Mio per month ), it would take a big blood bank to rescue this terminal patient. Processed marines sales during peak chinese new year sales Q1 was a paltry $32000 ? 100 cartons ? It only required one junior sales rep to sell 100ctn a month. All those highly paid CEO CFO COO C ... C ... C... to sell 100 cartons during Chinese New Year peak Q1 !?!?!? Really amazed that SGX continues to allow such counter to list. MainBoard counter with a Q1 sales of $32000, only in SGX. |
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KepoChicken
Master |
15-May-2015 21:28
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dun buy this stock ... trust me.... those money from taiwan listing already gone. Heard not much abalone left.
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GuavaXF30
Elite |
15-May-2015 18:59
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I have longed been warning bros and sis to stay away from this company. They have a lot of debts due and are out of cash. Now even out of abalone.
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enjoylife77
Veteran |
15-May-2015 18:49
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I suspect those mini abalone sold at Sheng Siong are from Oceanus. Very low price. |
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RoundRound
Elite |
15-May-2015 18:32
Yells: "Tikam Tikam can also" |
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Be careful of Oceanus. This one may go belly-up and delisted.In very negative NAV so unlikely to survive long | ||||
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OXDEVIL
Member |
06-May-2015 18:39
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For the foreseeable 9 months at least, the management can do little to stop the mounting losses as they do not have much of any product to sell. Chinese abalones are now cheaper than some fishes and beef - used to be for the emperors and now you can find it even at the lowest of street corner food stalls in China. Profit margin for selling Chinese abalones has gone to the dogs. Chinese abalones has turned into a DOG-eats-DOG industry and Oceanus with top heavy with heavy cost structure faces herculean tasks ahead just to meet their financing challenges. |
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Demostation
Supreme |
06-May-2015 15:48
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Company has revamped? |
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