Founded in 2008, Barramundi Group Pte Ltd was the top 5 barramundi producers in the world
Barramundi Group Ltd and its subsidiary corporations 2025 half yearly business update
SINGAPORE
Wednesday, February 18, 2026, 00:10 (GMT + 9)
Singapore-based aquaculture company secures court-approved restructuring, raises fresh capital and completes key debt repayments
SINGAPORE – Barramundi Group Ltd. (the “Company”), incorporated and domiciled in Singapore, has released its 2025 half-yearly business update, highlighting significant progress in its financial restructuring, capital raising efforts, and subsidiary debt refinancing.
The Company’s registered office is located at 35 Fishery Port Road, #11-6 New Fish Merchant Building, Singapore 619742. Its principal activities include the commercial farming, distribution, and sale of barramundi, a premium Asian sea bass widely consumed across the Asia-Pacific region.
The unaudited interim consolidated financial statements were prepared in accordance with Singapore Financial Reporting Standards (International) – SFRS(I) 1-34 Interim Financial Reporting, consistent with the accounting policies applied in the annual consolidated financial statements for the financial year ended 31 December 2024. These standards are equivalent to the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).
The interim financial statements, presented in Singapore Dollars (S$), include condensed consolidated financial information and explanatory notes to help stakeholders understand significant changes in the Group’s financial position and performance since the end of 2024.
Court-approved restructuring strengthens financial position
A major milestone in the Company’s turnaround came after it filed an application on 11 October 2024 with the General Division of the High Court of the Republic of Singapore under Section 64 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) seeking a moratorium order.
The moratorium provided temporary protection from creditor enforcement actions, allowing the Company to negotiate a comprehensive restructuring plan, including a proposed scheme of arrangement with creditors.
On 25 June 2025, the Company applied to the Court under Section 71(1) of the IRDA for approval of its proposed scheme of arrangement. The Court granted approval on 14 July 2025, enabling formal implementation of the restructuring.
As part of the Scheme:
All trade and non-trade receivables due from subsidiary corporations,
All trade and non-trade payables due to subsidiary corporations, and
All borrowings due from subsidiary corporations
as at 15 November 2024 were extinguished, simplifying the Group’s balance sheet and strengthening internal financial alignment.
Share capital increase and fresh funding of S$3.9 million
On 1 October 2025, as part of the Scheme’s implementation, the Company completed:
A private placement, and
A subsequent offering of new ordinary shares
This resulted in a registered share capital increase of S$3,907,581 through the issuance of 135,032,762 new ordinary shares.
The Company’s total registered share capital now stands at S$157,883,823.63, divided into 175,402,745 shares, each with a nominal value of S$0.90.
The capital increase comprised:
S$3,400,000 in cash proceeds from the private placement and offering; and
A debt-to-equity swap of S$507,581 with its bank.
The equity injection improves liquidity while reducing overall leverage.
Key repayment obligations fulfilled
The Company also completed three significant repayments under the restructuring plan:
S$1,000,000 repayment of secured borrowings on 15 October 2025
S$60,000 distribution to unsecured trade creditors on 30 October 2025
S$300,000 repayment of an unsecured shareholder loan on 10 November 2025
Importantly, all securities in favour of the bank were fully discharged on 16 December 2025, marking the conclusion of a critical phase in the Group’s deleveraging process.
Subsidiary restructuring: Fassler Gourmet Pte Ltd secures S$4.5 million refinancing
The Group’s subsidiary, Fassler Gourmet Pte Ltd (FGPL), also completed a significant refinancing exercise.
On 24 June 2025, FGPL entered into a loan term sheet with a third-party lender for S$4,500,000. The loan commenced on 1 July 2025, carries an interest rate of 6% per annum, payable semi-annually, and matures on 30 June 2027.
The facility will be secured by a first-ranking mortgage over FGPL’s property, to be effected following the discharge of existing encumbrances.
On 4 July 2025, FGPL fully repaid all outstanding bank borrowings. All securities in favour of the bank were discharged on 5 August 2025, freeing the subsidiary from previous lending constraints.
Positioning for recovery and operational focus
With court approval secured, bank securities discharged, new capital injected, and key debts repaid, Barramundi Group Ltd has significantly strengthened its financial foundation in the first half of 2025.
The restructuring initiatives, coupled with improved balance sheet discipline and fresh funding, position the Group to focus on its core aquaculture operations and pursue sustainable growth in the competitive seafood market.
🇯🇵 Japanese (日本語)
Barramundi Group Ltdおよびその子会社 2025年半期事業アップデート
シンガポール拠点の養殖企業、裁判所承認の再編を確保し、新規資本調達および主要債務返済を完了
シンガポール – Barramundi Group Ltd.（以下「当社」）は、シンガポールで設立・登記された企業であり、2025年半期事業アップデートを発表しました。本発表では、財務再編、資本調達、および子会社の債務借換えにおける重要な進展が示されています。
当社の登記上の本店所在地は35 Fishery Port Road, #11-6 New Fish Merchant Building, Singapore 619742です。主な事業内容は、バラマンディ（アジアンスズキ）の商業養殖、流通および販売です。
当社は2024年10月11日、General Division of the High Court of the Republic of Singaporeに対し、Insolvency, Restructuring and Dissolution Act 2018 (IRDA) 第64条に基づきモラトリアム（支払猶予）命令を申請しました。
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