Some abalone farms damaged by Typhoon Usagi, says Oceanus

TYPHOON Usagi has damaged some abalone farms run by Singapore-listed Oceanus Group in China's Guangdong and Fujian provinces, it announced on Monday.

The firm said some abalone farming and production facilities were affected "to some extent".

"Biological assets" - presumably referring to the abalone - were affected "to a lesser extent", it added.

"The information available to the board at this juncture is very preliminary," Oceanus said.

It said the typhoon has cut off road access to some of the farms and disrupted electricity supply and phone services.

The management team will be visiting all the farms to assess the damage caused and will update shareholders in due course, it added.

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