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Oceanus completes restructuring of loans, warrants

Whole Abalone & Cha Siew Ramen Soup from Ah Yat Tian Xia, a cafe-styled restaurant.

OCEANUS completed the restructuring of about S$64.4 million of loans and almost three billion warrants on Sept 2, the abalone producer announced early Thursday.

The restructuring of its liabilities is a key achievement for the loss-making company, whose auditors have raised going-concern questions.

"The board would like to take this opportunity to thank all shareholders for their support in ensuring the completion" of the loans and warrants, the company stated.

Oceanus shares last changed hands at 0.8 Singapore cents on Wednesday.