HEAVY volumes of Oceanus Group shares changed hands on Wednesday morning after the abalone producer announced late on Tuesday that it had appointed former minister Yaacob Ibrahim as an independent director.
The counter was the most actively traded by volume on the Singapore bourse with 131.7 million shares changing hands as at 10.02am, surpassing the second most heavily traded counter, coal miner BlackGold Natural Resources, by more than 95 million shares. Oceanus' stock price hovered within the 0.7 Singapore cent to 0.8 cent range.
Before retiring from politics this year, Dr Yaacob had served as Minister for Communications and Information, Minister for Environment and Water Resources, and Minister-inCharge of Muslim Affairs, among other Cabinet appointments. In a press statement on Tuesday, Oceanus chief executive Peter Koh said Dr Yaacob would be a strategic fit and add greater diversity and depth to the company's board, given his deep and varied experience including in environment and water resources as well as communications and information.
Dr Yaacob said Oceanus had"done well in providing value-added services globally and maintaining the trust of its shareholders", and that the group's businesses are"on a growth path".
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