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As a child, Peter Koh — today the CEO of Oceanus — enjoyed an unparalleled level of freedom more than kids his age had at the time. “Back then, childhood felt more real and enjoyable without the constant focus on tuition and extracurricular programs.”
And while the zeitgeist informed much of his growing up years, Koh also credits his eldest sister for his wild streak of adventure. “She convinced our mom to give me more freedom, arguing that I wouldn’t learn to manage myself if I wasn’t allowed to make my own decisions. So, I was ‘let loose’ and ended up doing all sorts of crazy stuff as a kid. Despite leading to a few injuries, it taught me to be street smart.”
His street smarts served him particularly well on one of his solo trips by bus to Johor Bahru as a 12-year-old during the school holidays. “I needed to switch buses at the checkpoint to get to my friend’s place when suddenly, I was surrounded by a group of gangsters looking to rob me.”
Anticipating problems like this, Koh had hidden most of his cash inside his socks, leaving only a few notes in his wallet. So, when the group of men confronted him, he showed them his nearly empty wallet, saying he only had enough to buy them coffee.
“Surprisingly, they accepted it, and we all had coffee together at a coffee shop before they left.”
“That experience,” Koh recalls as if it was an after-action review, “was my first real lesson in life about relying on my wits. I also understood the importance of independence, which taught me how to adapt.”
From food to filmmaking
As a CEO, Koh is well-known for single-handedly bringing Oceanus out of the Singapore Exchange watchlist on October 13 2021, after being put on it in 2015. In Greek mythology, Oceanus is a Titan god who is the ruler of the Oceanus River and all freshwater on Earth. But here in Singapore in 2012, Oceanus was anything but.
Koh was appointed in December 2014 to help bring the company out of troubled waters, taking over the rein from executive chairman and interim CEO, Dr Ng Cher Yew.
Two years prior, in 2012, according to a report by Next Insight, Yu De Hua had been removed by the board of directors from his position as CEO of the company and subsequently failed to be reelected as director of Oceanus by shareholders.
The report also indicated that “the ignominious outcome was a foregone conclusion, given the anger and disappointment that shareholders expressed at the AGM towards the events that led to huge losses in the abalone assets of the group last year.”
The move to hire Koh to lead the 26-year-old firm proved to be a good one. In a press statement in 2021, the seafood supplier said it had demonstrated profitability since the second quarter of 2020, hitting a record turnover and net profit in the first six months of 2021.
Peter Koh with the team behind Oceanus Media Global and Iskandar Malaysia Studio
The total revenue reported then stood at $52.5 million — 6.5 times the $8 million recorded the year before.
Still, if he had a choice, he would rather his legacy be something else — putting Singapore on the world map. “Despite being a small country, we carry a sense of pride wherever we go.
People recognise us, not just for our size but for our supreme governance.”
I’m speaking today to the 58-year-old Executive Director and Group CEO of Oceanus, Singapore’s most prominent food tech company, mere months from the launch of the brand’s Virtual Production Studio. The studio is a bilateral collaboration between Iskandar Malaysia Studio in Johor Bahru and Oceanus Media Global.
The state-of-the-art facility, according to Koh on LinkedIn, is set to revolutionise storytelling, “bringing unimaginable worlds to life, offering filmmakers and creators unparalleled creative freedom and efficiency.”
The facility signals the start of Oceanus’ third pillar of growth — services. Other strands include business consultancy, land leasing and management, warehousing, and logistics. The success of the first two — food production and distribution — took the brand from an abalone hatchery to a food tech company focusing on food security and sustainability.
The fourth is ‘innovation’, where Oceanus combines its partner companies’ strengths into one unified platform using technology like blockchain, data analysis, cloud computing, and business management systems.
Richard Gere-esque ambitions
Koh’s origin story in the oceans and technology sector stemmed from his time at Singapore Polytechnic, where he studied Marine Engineering. “It was one of the few fields where you got to wear a uniform — like Richard Gere in ‘An Officer and a Gentleman,” he shares, chuckling.
Koh is, of course, referencing the 1982 film, which, according to The New York Times in a review, “is resolutely old-fashioned Navy tale, a selfish, hard-hearted loner becomes a much, much better man, thanks to the rigours of basic training and the love of a good woman.”
But even the appeal and possibility of a Richard Gere-esque high-seas romance wasn’t enough to keep Koh interested. “I didn’t enjoy it as much as I thought and left the course halfway through.” Still, life has a funny way of reminding you of your roots. For Koh, it was when he was invited to give a talk at his alma mater.
With a laugh, he shares: “I remembered how I used to sit in the last row, trying to slip away unnoticed or nap without getting caught. I’d always complain about the lectures being boring. I told the students it’s okay if they want to sleep or sit in the back because I’ve been there.”
“When I decided to quit my studies, I promised my mom I’d make good on any money spent on my education so far,” Koh elaborates when I ask how his parents reacted to his decision to quit school. “She was also surprisingly supportive, which speaks to the culture in my family. Growing up in a relatively large family, our upbringing differed from what you see today.”
An audacity to dream
Koh continued to reap valuable life wisdom as he transitioned into adulthood, marked by the months after he completed National Service. He was jobless and diploma-less, but his fervour for a fulfilling and meaningful life remained high.
Few knew Koh was a management trainee at a Fortune 500 company post-national conscription. And despite the newspaper advertisement stating that they’re only looking for graduates, he decided to try his luck and apply anyway.
“On my way there,” he recalls with a laugh, “I had an unexpected encounter with a dog that chased me. By the time I arrived for the interview, I was in quite a state compared to the other interviewees, who were all dressed up in their best, some even wearing ties.”
Call it luck or determination, but Koh was the only non-graduate selected for the job despite the chaotic start. “It taught me that sometimes, even under less than ideal circumstances, taking a chance can lead to unexpected opportunities.”
There’s an audacity to Koh’s approach to life, work, and leadership fuelled mainly by the fact that, technically, he had no reason to work anymore. Before joining Oceanus, Koh enjoyed early retirement after a successful career as the head of his global branding enterprise, Pete’s Creation International.
His decision to come out of retirement and take on the challenge at Oceanus was driven by a desire to find purpose and meaning in his work, especially given the company’s dire situation with a debt of US$94 million ($126.4 million) and its impact on thousands of retirees who were shareholders.
“I came here to help.”
“If you don’t try, you’ll always wonder ‘what if’,” Koh offers when I ask where this tenacity comes from. “Even if the answer is no, I know I made the attempt. This was my mindset when I joined Oceanus — despite warnings from friends and even close family members who thought I was risking too much of my standing.”
Taking on the CEO role at Oceanus meant that Koh had to look beyond the risk to his reputation, something he does very willingly since he wasn’t looking to polish his resume for future job prospects.
“At my age, I’m more interested in giving back than career advancement. My venture into this was not about securing a job afterwards; it was about making a difference before returning to retirement.”
Peter Koh with Lee Chuan Teck, CEO of Enterprise Singapore, and his senior management team.
In no small way, this mindset released him from the typical bonds of worries that plague C-suite leaders, especially those steering a rapidly sinking ship such as Oceanus circa 2021.
“When others observed how I remained positive despite the challenges — software issues or unexpected problems — they couldn’t understand my optimism.” But Koh is crystal clear about his objective at Oceanus. “I came here to help, not to be weighed down by problems.”
Seeing problems as opportunities helped ensure Koh stayed ‘happy and motivated’. “If I managed to solve a problem, it was a bonus,” he explains. “If not, there was no reason for regret since I wasn’t the cause of the issue in the first place.”
Calling a spade, a spade
In his maiden speech as CEO at Oceanus’ Annual General Meeting (AGM), Koh told shareholders in no uncertain terms that the company was facing severe difficulties. He also emphasised that unless they collectively acknowledged and addressed these issues, the situation wouldn’t improve. “Despite the initial shock some might have felt hearing such honesty from a new CEO, I believe in calling a spade a spade.”
He recalls a man who went up to him and asked if he could guarantee the success of the short and long-term plans for recovery. “My response was honest: I couldn’t predict the future with absolute certainty, but I could promise my unwavering commitment and effort toward our shared goals.”
Such candour towards shareholders is uncommon amongst CEOs who are often tasked with keeping shareholders calm and not rocking the boat — at least not too much or vigorously. But as you can imagine, Koh is not like other CEOs. When he joined, there was no formal contract. His initial contribution was lending money to the company without interest or security — “just to cover essential expenses like rent and salaries.”
The quest for meaningfulness
Today, Koh is at the point in his life where he feels a deep sense of peace. “If something were to happen to me today, I believe I would have few, if any, regrets. I’ve pursued the things I wanted to do, helped people to the best of my ability, and experienced a rich and colourful life.”
He credits this zen to his life experiences and the stories and wisdom of others. Koh shares a conversation with a lady who survived the Vietnam War and her thoughts on what constitutes a prosperous life. She taught him, “It’s not about material wealth or the balance in your bank account but about the richness of your experiences and the peace and fulfilment you find within.”
OMG, a subsidiary of Oceanus Group, takes immense pride in its role as one of the sponsor the Fashion for Cancer charity runway show, here pictured with organiser, Yan Ong.
Evidently, this interaction greatly informed his perspective of living and what it means to lead a meaningful life. “It’s about creating memories and leaving a legacy of kindness, compassion, and understanding, rather than focusing solely on material achievements.”
This quest for contentment also extends to how he defines success for Oceanus. “From the get-go, the essence of what we’re doing here is founded on a sense of joy and fulfilment. If I, or any of us, weren’t genuinely happy with our work, we simply wouldn’t be here.”
A dreamer but also a realist
Koh takes a lot of pride in fostering a work culture that focuses on wanting to make a real difference in the world. It’s a commitment duly underlined when he had to bring on new board members while the company was still in the throes of recovery.
“Despite our financial constraints at the time, the collective willingness to “pay it forward” was evident. We were all motivated by more than just financial gain; we were driven by a desire to contribute to something meaningful.”
Koh’s principles and ethos led to a candid conversation with the new board member about compensation, where the mutual understanding of the company’s values and mission was far more critical than the paycheck. Unsurprisingly, the new board member’s values aligned with Koh’s and today, he remains a steadfast member of Oceanus’ board.
“I often liken our roles to that of public servants. While our primary responsibilities may differ — serving shareholders versus serving the nation — our underlying commitment to integrity and legality remains constant.”
Still, Koh is a realist in navigating the business world, explaining that it sometimes requires the company to operate within ‘grey areas’ — always legally, but with the agility to adapt to diverse and changing environments. “This adaptability is crucial, especially when implementing standards from one context (like Singapore’s) in another country, which may not always be practical.”
It’s a tacit understanding that keeps Koh vigilant. “It’s a reminder of our resilience and the proactive stance we must maintain to thrive in an unpredictable world.”
A promise kept
As a CEO on a mission, six-day work weeks are par for the course for Koh. It leaves him with only Sundays to reset, during which he beats the running tracks of scenic nature routes all over Singapore.
“I used to practise yoga regularly, but the structured timing of classes became incompatible with the unpredictability of my work commitments. Running, on the other hand, offers flexibility.” Koh also keeps a pair of running shoes in his car, which allows him opportunities for a quick run between meetings or on work trips.
“In life, treating work as just a job might be straightforward — you clock in, do your tasks, collect your salary, and clock out. But, making a promise adds a layer of commitment that intensifies the responsibility.” It’s a commitment that fuels Koh in his day-to-day tasks. “It ensures that even if I don’t achieve every goal, I can still look back with the confidence that I’ve given it my all.”
