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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Olam launches defence against Muddy Waters allegations

Posted on 28 November 2012

Singapore commodities firm Olam International Ltd, , part owned by Singapore state investor Temasek Holdings Pte Ltd, launched a vigorous defence on Wednesday against short-seller Muddy Waters’ attacks on its accounting practices and acquisitions, emphasising it is not at risk of insolvency.
Olam said in a 45-page report it has enough liquidity to pursue its current business and future investments. The rebuttal focused on major issues raised by Muddy Waters in its own report: Olam’s solvency, accounting-related assertions, business model, acquisitions and capital spending………………………………………..Full Article: Source


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