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Ceatech USA loses $737,419

Kauai shrimp producer Ceatech USA Inc. had a loss of $737,419 in its fiscal second quarter, which ended July 31. The loss is similar to the $744,438 loss reported for the year-earlier quarter.

Quarterly sales of $512,816 were down 42.5 percent from $892,170 in the equivalent quarter of last year.

Disclosing the figures to the Securities and Exchange Commission, Ceatech said it has largely dealt with the hatchery problems that plagued its last fiscal year, but it was adversely affected this year by disruptions in the supply of good quality shrimp seed.

The company said its 40 growth ponds eventually were fully stocked with juvenile shrimp and production increased, but in the latest quarter per-pond yields were significantly lower than expected.

Queen Kaahumanu GM to stay on

General Growth Properties Inc. confirmed yesterday it has taken on the management, leasing and marketing contract for Maui's largest shopping mall, the 573,000-square-foot Queen Kaahumanu Center.

The company said Scott Crockford, the center's senior general manager and a 27-year Maui resident, will stay on as senior general manager for the property. He will be joined by Leslie Harrington Brown, the leasing manager for Victoria Ward Properties, who was named senior leasing manager.

Queen Kaahumanu Center, formerly owned by Maui Land & Pineapple Co. and the Hawaii Employees' Retirement System, has been purchased for an undisclosed price by Somera Investment Partners LLC, a division of a California-based private equity capital real estate investment company, Somera Capital Management.

General Growth Properties, based in Chicago, owns and manages Ala Moana Center, Victoria Ward Ltd. with its Ward Warehouse and Ward Center operations, and Prince Kuhio Plaza in Hilo.