Oceanus Group was a Chinese abalone farmer which achieved a backdoor listing on to the Singapore Stock Exchange in 2008, before raising US$110m from investors. Trouble began in November 2011 when the company announced substantial losses relating to dying abalones. The credibility of this loss was questioned by a Singapore newspaper and then by the auditors which raised additional concerns over receivables, payables and the company’s ability to continue as a going concern.  

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