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Some unreasonable 'thumbs down' here, I will 'thumbs up' them...
Octavia ( Date: 29-Aug-2013 11:12) Posted:
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Think is the request for credit facility and pending result worries.
Peter_Pan ( Date: 29-Aug-2013 11:09) Posted:
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Olam kena attack again.
result today.
Recall Olam reported that they were very comfortable with their balance sheet position, in terms of their equity position as well as their debt position yet raised close to US$1.2 billion from the sale of bonds and warrants sometime in Dec 12.
Surprising they are still securing more credit facility??
Notice none of the Singapore banks are involved.Prudence??
Olam Secures US$400 Million Revolving Credit Facility
The three-year Facility was arranged by a group of eight international banks,and is guaranteed by Olam.
http://infopub.sgx.com/FileOpen/28Aug2013-US400milfacility-PressRelease.ashx?App=Announcement& FileID=254286
many red, red but this one green green .
something we don't know going on.
beginners ( Date: 24-Aug-2013 20:10) Posted:
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Olam Sees Potential for Indian Sugar Exports on Rupee to Surplus
Sugar millers in India, the worldâ??s second-biggest producer of the sweetener, may seek to export product because of a record low for the Indian rupee and a fourth year of domestic surpluses, Olam International Ltd. (OLAM) said.
Indian exports will probably be 500,000 to 1.5 million metric tons in the 2013-14 season, Manish Gupta, head of sugar trading at Olam India, said in an interview last week. Another one million tons will be shipped from refineries that import raw sweetener to re-export it as refined sweetener, he said.
The Indian rupeeâ??s 12 percent retreat in the past six months to a record low on Aug. 6 increased revenue from dollar-denominated sugar sales. A lower rupee means prices in India are about equal to futures traded in London, boosting prospects for overseas sales. Raw sugar traded in New York gained for the past four weeks as frost last month may reduce the crop in Brazil, the worldâ??s largest producer.
â??If New York rallies for some reason, on account of Brazilian rains or the frost issue and the rupee depreciates, it will give India an opportunity to export,â?? Gupta said.
White sugar futures on the National Commodity & Derivatives Exchange Ltd. in Mumbai were 3,015 rupees for 100 kilograms ($495.90 a ton) today. Refined sugar futures traded on NSYE Liffe settled at $497.90 a ton last week.
Accurate Forecast
Sugar production in the South Asian nation will be 1 million tons higher than consumption in the season that starts Oct. 1, a fourth year of surplus, Ruchi Ahuja, an analyst at Olam in India, said in the same phone interview.
India will produce 24 million tons of sugar next season, down from 25 million tons in 2012-13, considering normal monsoon rains, according to Ahuja, who correctly forecast the size of the current crop in a Sept. 4 interview. A lack of water, particularly in the countryâ??s southern states, resulted in a â??smallâ?? change in acreage, she said. Production will drop the most in Maharashtra state, by 700,000 tons, Olam estimates. Local stockpiles are 7 million to 8 million tons.
An end to state curbs on the amount of sugar that millers can sell may help send domestic prices lower when the harvest starts, Gupta said. That may encourage shipments should international prices be higher, he said.
Thereâ??s New York, thereâ??s the rupee, and thereâ??s the fact that we may see some reduction on the price here because of the pressure,â?? Gupta said. â??All three put together will possibly in some way create a situation of exports.â?? One reason why it may not happen is if international prices fall below local ones, he said.
Sugar futures traded in New York are heading for a third year of declines, the longest slump since 1992, as supplies outpace demand. Production will be a record 10 million tons bigger than consumption in 2012-13, estimates the International Sugar Organization based in London.
When MW publishes a piece for general consumption, all the paid clients have already read it week or months in advance.
So let's put this into perspective: American Tower share price has fallen from 85+ to 74+ in last two months. http://www.bloomberg.com/quote/AMT:US meanwhile Dow and S& P500 have been setting new highs.