Barramundi Group appoints new independent director 

SINGAPORE – Barramundi Group Ltd, a leading aquaculture company in Singapore, has announced the appointment of Eric Tsang as an independent director. 

Tsang, who brings over two decades of experience in institutional banking, investment management, and entrepreneurship across the Asia Pacific region, is expected to play a pivotal role in the company’s ongoing restructuring and future growth.

Currently serving as Chief of Staff at a single-family office in Hong Kong, Tsang oversees private equity, venture capital, and private markets investments. 

His extensive experience in managing relationships with sovereign institutions, asset managers, and banks, along with his strategic vision, will be invaluable to Barramundi Group as it navigates its corporate restructuring efforts. 

The company’s board expressed confidence that Tsang’s leadership in cross-border business development and institutional relationship management will significantly contribute to the company’s objectives.

With a career marked by significant achievements, including managing relationships with sovereign institutions, asset managers, and banks, Tsang has a proven track record of producing results and demonstrating leadership in financial operations and strategic advisory. 

His expertise spans the direct origination of capital markets businesses, structured products, asset management, and real estate financing.

Barramundi Group’s board believes that Eric Tsang’s appointment will greatly contribute to the ongoing restructuring and future growth of the company.

Challenges in financial reporting abide 

This appointment comes at a crucial time for Barramundi Group, which recently faced challenges related to its financial reporting. The company landed on the Oslo Børs penalty bench after failing to submit its 2023 annual report by the 30 May deadline. 

The Oslo Børs, part of the Euronext Oslo exchange, placed Barramundi Group in this category on 3 June, highlighting the company’s repeated non-compliance with exchange rules. 

The Penalty Bench is a special compartment where the securities of Issuers that fail to comply with the Rules are placed.

However, Barramundi Group has announced that it will release its 2023 annual report on 13 August 2024, ahead of its annual general meeting on 27 August, and plans to release its H1 2024 report on 30 August.

The delay in releasing the 2023 annual report and the postponement of the annual general meeting were attributed to the company’s ongoing corporate restructuring efforts, which required additional time for finalisation. 

Despite the challenges, Barramundi Group is moving forward with a positive outlook. Eric Tsang’s appointment is seen as a significant step towards stabilizing the company and ensuring its long-term growth and success.

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