A decade ago, Oceanus, under a previous management team, was keeling over a disastrous near wipe-out of its abalone farming business in China. As the extent of the damage became apparent, one of its creditors, a local bank, appointed liquidators to get ready to wade in and take the company to the cleaners. Now, in a sign of how the tide has turned, Oceanus’ CEO Peter Koh was recently invited to the same bank’s Lunar New Year celebration and stood next to the bank’s CEO for lo hei.
Read more here: https://www.theedgesingapore.com/news/company-news/oceanus-awaits-exit-watchlist-and-preps-food-production-ventures
