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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Singapore’s Olam to cut spending, debt after investor pressure

Posted on 26 April 2013

Olam International Ltd , propped up by Singapore state investor Temasek Holdings after worries mounted over its high debt, said it will halve its capital spending in 2014 to 2016, cut its stake in an urea plant in Gabon and reduce its debt levels.
The Singapore-based agricultural commodities company, which came under attack from short-seller Muddy Waters last November and was forced to raise cash as its stock and bond prices tumbled, has been under pressure from investors to rein in its expansion plans………………………………………..Full Article: Source


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