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Oceanus in deal to expand abalone and seafood sale in China

PC Lee Published on Thu, Jun 15, 2017 / 5:56 PM GMT+8

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SINGAPORE (June 15): Oceanus Group, the abalone and seafood supply chain manager, has entered into an agreement with WSRC Holding to expand the group’s abalone and seafood business in China, particularly, the distribution of Oceanus’ seafood products.

WSRC, which manages the WSRC-Chengdu Integrated Business & Halal Center in Chengdu, Sichuan province, will set up a premium retail outlet in the integrated development to sell Oceanus’ abalone and other processed seafood products and expand the distribution of these products in western China. The retail outlet is expected to start operations in FY2017.

WSRC has agreed to purchase from Oceanus 250 cartons of canned abalones or its sales equivalent of $250,000, whichever is higher. It will also purchase at least 500 cartons or the sales equivalent of $500,000, whichever is higher, within a year of the start of the agreement on June 13.