What do yu guys think abt the result? my take: Q4 - big jump in fair value gain (becos of sharp spike in live abalone prices) 2H operatin g profit however went down 4% despite 63% jump in sales. alamak. why??? sale of canned abalones & restaurant business - ok, got meaningful contribution. Expect this to ramp up in Q1 this year. on the whole, a bit disappointing result.
Opaque statement tonight from Oceanus, the gist of it being
/ Dr Ng Cher Yew and/or Bestglobal has to transfer 446,317,492 shares to YDH, the sacked CEO, under some global agreement to settle matters amongst them.
What matters?
/ As part of the settlement, YDH will sell a farm to Oceanus for $1.
My reading is, Dr Ng is being beaten down by YDH. Totally not clear what the issues are. Who knows?
This once was a business full of promise. Now it's a shadow of its former self, like an empty shell of an abalone whose life was cut short. I can only imagine what a multi-bagger Oceanus might now be if things had gone according to the dream laid out by Ng Cher Yew. I think he himself never saw the nightmare coming.
That former CEO YU DE HUA who got kicked out of Oceanus continues to dump his shares via his daughter Yu Yang.
Announcement: "A series of open market sale of shares in the Company totalling 24,937,000 shares from 18 October 2012 to 22 October 2012 made by Yu Yang."
She is now below 5%, no more announcements. After the dumping is completely over, the share prx has a chance to recover *(assuming the business gets better too).
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