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Aiya, on the day when they said going to sue each other, we all know that it is not going to happen.
★ ★ ★ ★ ★
5 stars statement.
Octavia ( Date: 08-Apr-2013 08:19) Posted:
The moral of the story never to trust Ah Neh CEO too much. |
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The moral of the story never to trust Ah Neh CEO too much.
OLAM International said on Friday that it has decided not to pursue its libel lawsuit against US short-selling firm Muddy Waters and its founder Carson Block.
The agri-commodities trader said it has been unable to serve notice on Carson Block in the past four months, and has also found, through its investigations, that both did not have " assets of consequence" against which claims can be made.
" After considering feedback received from several of its shareholders, Olam has decided it should now move forward and focus resources and management attention to deliver value for its continuing shareholders and other stakeholders," the firm said in a statement.
Olam had filed the suit against Muddy Waters and Mr Block on Nov 21, following comments that Mr Block made at a London conference criticising Olam's debt levels, the way it had booked profits on some of its acquisitions and the valuations of its biological assets.
Octavia ( Date: 03-Jan-2013 14:37) Posted:
Next we may hear them saying that they are dropping the lawsuit.Adding that the market has vindicated them of any issues with the company by the strong bond take up rate and share price has come off from its lows as a endorsement of its credibility.Hope that this is wake up call for them. |
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Posted: Apr 5, 2013
Topics: Processing > Fruit & vegetables
Olam opens $60 million almond processing plant
inShare
Olam International has opened a $60 million almond hulling and processing plant in Carwarp, Victoria. The 12,000 m2 facility is reportedly the largest of its kind in the Southern Hemisphere.
The plant is expected to de-hull and shell 14 tonnes of almonds per hour and employ approximately 19 permanent and 54 casual staff once in full production. It will feature state-of-the-art laser sorter technology to shell and hull the almonds, generating significant efficiencies and ensuring consistent product quality, traceability and food safety.
The company is minimising its environmental footprint by using modern technology. The warehouse can operate in complete darkness, reducing electricity use for lighting, while a cogeneration plant fuelled by almond hulls is also being explored.
“The plant’s total capacity will reach 40,000 MT of almond kernels each year, meeting all of our upstream orchard volumes and positioning us well to meet the rapid growth in demand for almonds in India, China, South-East Asian and Middle Eastern countries,” said Bob Dall’Alba, Olam Australia Executive Director and Country Head.
OLAM International has opened an almond hulling and processing plant in Victoria, South Australia.
The plant, which costs A$60 million (S$78 million), will have a total capacity of 40,000 metric tonnes of almond kernels a year, the firm said in a press release on Tuesday.
It will de-hull and shell 14 tonnes of almonds an hour and employ about 19 permanent staff once in full production.
The plant will help the agri-commodities trading house meet all the volumes of its upstream orchards, said Olam's Australia executive director and country head, Bob Dall'Alba. The firm is also exploring the option to use almond hulls to create renewable energy, it said.
One of the top five counters under UOB Kay Hian's coverage.
Oleh Oleh oleh.... Huat ar for those who long
Olam shares top level last reached before Block attack: UpdatedOlam International, the commodity trader targeted by short-seller Carson Block, topped the price it last traded at before the founder of Muddy Waters LLC said he was betting against the company.The stock rose as much as 2.6% to $1.765 in intraday trading in Singapore, before closing at $1.715. Shares of Olam, which rejected Block’s claims and sued for defamation, closed at $1.74 on Nov. 19 before Block questioned the company’s accounts at a London conference.[.....]
I shorted and bought back.. earn few bucks
seems like the buying is strong.. gd luck !!
wesely2k ( Date: 20-Mar-2013 09:37) Posted:
| Anyone dare to shaort Olam? |
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Olam bond 6.75%US$ sound too good ? Now trading only at 0.953 !!! Hold till 2018 will get about 8% yield !! Will Olam still around for the next few years ?
Will Olam Survive Muddy Waters: Sunny Verghese Vs Carson Block
Olam International Ltd is under attack from short sellers but the company looks to be holding on OK, I do not think Olam is the new Enron, and if we were to extend the theory of pre booked profits that is being spouted by the short sellers then every insurance company in the world is in bankruptcy and so are most of the banks.
Olam will survive this, and considering how much short selling would have been generated, and the net short position the company may bounce back over $2.00SGD and give the short sellers a nasty, but well deserved shock.
“There is no substance in their broad allegations,” Olam said today in a statement, promising a fuller response in due course. “We will clear our name and hold Muddy Waters accountable for their damaging actions.”
But instead of fighting the short sellers CEO Sunny Verghese needs to reach in to his pockets, rally his friends and burn the short sellers, it is not our opinion that the short sellers are well heeled enough to withstand much of an attack, there are plenty of rumors about the financial state of the short seller and Muddy Waters may be looking for a big winner here to salvage themselves.
Certainly I hope it is the case, it would be a shame for the reputation Singapore has built to be destroyed by the rumor and innuendo of Muddy Waters.
Sunny Verghese, here is the check list of what you need to do now.
1. Get some funds together, reach out to your financiers.
2. Prepare a detailed statement of financial standing.
3. Distribute that to Brokers, Banks, Hedge Funds and Bond Traders.
4. Make the Statement available to the public.
5. Buy the debt and the equities.
Based on volume I would estimate the short position averages around $1.90SGD, the brokers acting on behalf of the short seller would have a safety margin of around 30% so the stock needs to run to $2.34 to rid the company of the short seller.
The average short away from the short seller looks to be around 1.68SGD, so they will become buyers at the $1.86SGD point.
This will be an interesting week.
How the fight is shaping up.
Sunny Verghese
Strengths
Has a good history
Should have access to capital
Weakness
Poor reaction to the claims against him
Over 2 years of falling stock prices
Carson Block
Strengths
Has done this better than anyone before
Has market followers that short and aid the position
Weakness
May not have access to capital
A break of $2.34 would put him out of the game
Anyone dare to shaort Olam?
... Married Deal: Vol: 5,850 Value: $9,506,250 ie $1.625 / share
Under big sugar daddy mah, what to worry. This is not chartered semi
iPunter ( Date: 19-Mar-2013 06:20) Posted:
This stock is " kee siow" (gone bonkers) in the past two days...Strange behavior...
Many traders made money but many also " pok!!!" by playing intra day with the wide swings...
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This stock is " kee siow" (gone bonkers) in the past two days...Strange behavior...
Many traders made money but many also " pok!!!" by playing intra day with the wide swings...
Looks like a shortsqueeze in the work.Needs balls of steel to short something that hides behind Temasek.
attempting to breakout $1.73 soon
U should buy whenever you see ppl short this. U will never regret
bishan22 ( Date: 15-Mar-2013 09:47) Posted:
| Today in play. Breaking Boll band. |
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