Continue reading this on our app for a better experience

Open in App
Home News Company in the news

Oceanus signs agreement with Shaoxing partners to expand wine distribution business

The Edge Singapore
The Edge Singapore  • 2 min read
Oceanus signs agreement with Shaoxing partners to expand wine distribution business
Oceanus group CEO Peter Koh (left) and Qian Linjiang, head of Yuecheng district, of Shaoxing / Photo: Oceanus Group
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Oceanus Group has signed an investment intention worth RMB200 million to help grow its alcohol distribution business with a local authority in China.

The agreement is signed with the Shaoxing Huangjiu Town (Dongpu) Development and Construction Management Committee.

The committee is with the Agriculture, Rural and Water Resources Bureau of the Yuecheng district, of the town of Shaoxing, known since ancient times for producing yellow wine made such as the Nü Er Hong, popularised in martial arts novels and shows.

Via its subsidiary Season Global, Oceanus runs an extensive business of distributing products including alcohol and other foodstuffs. Oceanus is already tapped by the likes of Australia's Treasury Wine Estates as an exclusive for some of its products.

Via this partnership, the local partner will import alcohol distributed by Oceanus, and also provide access to logistics and other services, says Sammul Lin, group COO of Oceanus.

On the other hand, Oceanus will help expand the distribution and grow the demand of yellow wine produced by Shaoxing.

See also: Yoma CEO Melvyn Pun regularly in contact with father Serge; company unaware of specific matters inquired

Shaoxing, the town, is located in the prosperous province of Zhejiang on China's east coast. It produces different brands of yellow wine such as Guyue Longshan, Kong Yiji and Bai Ta.

Tapping on its local attributes in rice, water and know-how, Shaoxing accounts for around half of China's total production of yellow wine and Shaoxing wants to create a more distinct regional branding based on this product with the development of a "town" integrating related activities ranging from production, marketing to distribution.

Besides domestic consumption, key export markets for yellow wine include Japan, Korea, as well as Asean and other international markets.

See also: Ho Bee Land issues inaugural green bond of $160 mil

Qian Linjiang, head of Yuecheng district, says Shaoxing has produced yellow wine since ancient times and boasts a strong local wine culture.

"Moving forward, we wish to build Yuecheng into a truly global wine town. We are delighted to cooperate with a trusted partner like Oceanus," he says.
Peter Koh, Oceanus' group CEO says the company's extensive distribution network is recognised by many local governments and provinces in China.

"We are often approached by various municipalities to support cross-border trades," he says.

"This agreement will serve to further strengthen the economic and trade relations between Shaoxing, China and Singapore, including the cross-promotion of goods within Asia Pacific," says Koh.

Oceanus shares closed at 0.9 cents on May 29.



To stay ahead of Singapore and the region’s corporate and economic trends, click here for Latest Section




Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.