Oceanus Group

[Contrarian]

In the first place, China abalones are nothing popular. If it is that good, it would have raised my eyes. Why are the shops still selling mexico and Japanese dried abalones at the highest premium?

The independent directors approved payment package based on 'reported' profits? I rest my case, they have lots to learn esp... reported profits vs real profits...

Also, I think you can't smell the dead abalone since they are all in cages in the sea. Same for fish in net cage culture - some die at the bottom, some float to the top. You won't know unless you pull up the nets and check regularly.

1. Only the large abalones are in cages at sea. Some of the missing abalones were of intermediate size and would have been kept in tanks on land.

2. For abalones that died at sea, their shells would still be in the cages. For those that died recently their bodies would still be in the shells.

The fact that Oceanus is only now requiring the retention of shells to audit dead abalones suggests that the missing abalones never existed in the first place. See post #53 in this thread for a more detailed analysis.

The shells could theoretically be stolen, but how are you going to remove the dead abalones? It takes too much time to do it onsite, so you still have to move everything offsite first, which brings us back to the logistics problem described in post #53.