Oceanus Group has applied for exit from the SGX watchlist on 13th April 2021 after finally swinging back into the black in FY2020.  The revenue actually grew within 1 year from S$9.6Mil in FY2019 to S$91.7Mil. Revenue is expected to grow exponentially further due to its recent investments into prawns and shrimp farming in Singapore and also Hainan, China. The Singapore farm is expected to produce 150 kilograms of prawns daily from June'21 onwards and this will grow to 1,000 kilogram of fresh prawns being produced daily by 3rd quarter of FY2022. For Hainan, Oceanus will produce 200 tonnes of shrimps initially and by next year, this is expected to grow to 1,000 tonnes. Share price of Oceanus rose to an all time high of 7.6 cents per share on 22 Feb 2021. Currently it is trading at around 3.8- 4.0 cents per share.

1. The Oceanus Group troubled history and death of abalones

In 2013 under its old management, a substantial number of its abalone in China farm suddenly experienced unnatural deaths....