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Oceanus still in a sea of red ink

Published Fri, Jun 13, 2014 · 10:00 PM
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Singapore

ABALONE producer Oceanus Group is not out of the soup yet.

The company posted a narrower quarterly loss yesterday, but revised its 2013 results to a significantly wider loss even as its auditor said it did not have enough evidence to give an opinion on the company.

Oceanus' fiscal first-quarter net loss from continuing operations shrank to 19.1 million yuan (S$3.8 million) from a year-ago 46.4 million yuan deficit as abalone prices fell amid frugality measures imposed…

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