Can Oceanus's digital farming ambitions lift investor confidence?

Oceanus CEO Peter Koh says the company will continue to look out for investments

Uma Devi

Published Thu, Mar 11, 2021 · 05:50 AM

Singapore

AFTER swinging back to the black in FY2020, Oceanus Group is looking to "tech up" its business model and diversify its products and operations further.

With a clean balance sheet and a source of steady revenue, group chief executive Peter Koh now expects the company to invest more in new farming technologies that will make the business more efficient and deliver better returns for shareholders.

In September last year, Oceanus invested an undisclosed amount in a newly formed deep-tech company called Universal Aquaculture. The latter has established an indoor prawn breeding facility in Tuas that will produce its first harvest in June.

The farm will reportedly be able to produce 150 to 200 kilograms of vannamei prawns a day for a start, but can produce some 1,000 kilograms of these prawns daily when an additio…