25 July 2023
Under the Radar: From an ailing abalone producer to a foodtech company – Oceanus’ CEO Peter Koh on cleaning up the company; Diversification into distribution, services and innovation; When growth will stabilise; Focus in Chinese market, working with state owned China Resources Wufeng Co; Deal in Uzbekistan
From producing abalones to distributing FMCG products and to offering consultation services, our guest for today Oceanus has its wings spread across business pillars such as food production, innovation and distribution.
The aim here is to leverage what it calls cross-pillar synergies for exponential growth to boost financial performance. But having a diversified portfolio of businesses hasn’t always been the case for Oceanus.
It was once an abalone hatchery operator struggling with a lack of internal controls and corporate governance framework.
At one point in 2014, the SGX mainboard-listed company was on the brink of being wound out after losing its entire abalone farm to bad weather, causing it to default on S$94 million in debt.
That was when chief executive Peter Koh was roped in to manage the firm. Changes were made to Oceanus’ business model, and over the years, the firm repaid its dues and restructured its business to include new streams of revenue.
The company also exited the Singapore Exchange watchlist in September 2021 after six years.
But what is Oceanus’ secret sauce to turning the business around? And from inking deals in Uzbekistan and Hainan – what is Oceanus doing to position itself for its next bound of growth?
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian spoke with Peter Koh, Executive Director and Group CEO, Oceanus for more.

Download this podcast.

Listen to his previous podcasts:

26 May 2020
Driving a resilient aquaculture business amid COVID-19
In the last few years, Oceanus Group, has fine-tuned its business model along the aquaculture/FMCG value chain and ramped up its operations. Peter Koh, CEO, Oceanus Group shares why there was a need for Oceanus to tweak their business model and if they are looking at changing up their business model again due to COVID-19.

Download the podcast