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Muddy Waters releases report on Temasek's Olam - shares plunge 6%!

Zatoichi

Alfrescian
Loyal
Carson Block is an American citizen, resident in the state of California. Barring gross violation of US sovereignity, he is not "fixable" by any Singaporean entity, private or public.
But his reputation can be ruined in Singapore, so much so that it would be dangerous for him to come to Singapore again.


Also germane to this topic, why is Olam pressing charges in the Singapore High Court, which has no jurisdiction in America?
Because Olam has no intention to DIRECTLY engage Muddy Waters Research and Carson Block IN America.
Olam just wants to clear its name and defend its reputation among SINGAPOREANS (especially investors) residing in SINGAPORE, which is what matters.

Investors/traders from around the world are free to sell or short Olam's stock to near-zero if they wish, but that's not as important as ensuring that Olam's reputation in the eyes of the Singapore GOVERNMENT (and Temasek, of course) remains intact.

If the stock ever plunges to near-zero, Olam (possibly with the help of Temasek) will buy back massive amounts of shares in the open market:

http://www.channelnewsasia.com/stories/afp_singapore_business/view/1239921/1/.html
("media reports said the company would consider buying back shares if prices continued to fall because of Muddy Waters' allegations")

possibly to the point of privatisation and indirect ownership of all those farmlands around the world by Temasek.


If they seek legal recourse, they should file suit in the appropriate venue.
Which is NOT in the USA, where there's much more freedom of speech, so much so that there's a high chance for Olam to lose in a US court.

The appropriate venue for Olam is right here in Singapore, where they have the support of Temasek, so that it's a sure-win for them.

Sometimes, "face" is really more important than money.
 

Zatoichi

Alfrescian
Loyal
Olam hit a low of 1.465 and closed at 1.50, down 6c or 3.85%.
Total voloume:101,805,000.
OLAM:Singapore Stock Quote - Olam International Ltd - Bloomberg
http://www.bloomberg.com/quote/OLAM:SP/

Open: 1.5200
Day's Range: 1.5100 - 1.5650
Close: 1.5600
Previous Close: 1.5000
Up S$0.06 or 4%
Volume: 45,048,000 (for today, 29 November 2012)


Carson Block's interview with Bloomberg TV:
[video]http://www.bloomberg.com/video/olam-accounting-is-incompetent-carson-says-U1V8p0DiRXumODRCbH03bQ.html[/video]
Let's see if this causes a bullish reversal from tomorrow onwards:

Olam Rebuffs Muddy Waters, Citing S$10 Billion Liquidity - Bloomberg
http://www.bloomberg.com/news/2012-...ers-claims-citing-s-10-billion-liquidity.html

Olam Says Balance Sheet `Strongest It's Ever Been': Video - Bloomberg
http://www.bloomberg.com/video/olam...st-it-s-ever-been-t5hXrtacQu6p4DTeWIvXhg.html
 

Merl Haggard

Alfrescian (Inf)
Asset
Olam CEO Says Takeover Is 'Technically Possible'


Sunny_Verghese_s_0.jpg



CNBC.com
28 November 2012

A takeover of Singapore listed agribusiness firm Olam International – which is fending off attacks on its accounting methods and questions over its debt from short-seller Muddy Waters – is "technically possible," CEO Sunny Verghese told CNBC on Thursday.

"While technically, a takeover of Olam is possible, in a real practical sense...a hostile takeover is unlikely," Verghese told 'The Call' in an exclusive interview. Still, "this attack has put pressure on our various stakeholders, whether the bond holders or whether it is shareholders. We are delighted and grateful that they are by and large standing by us."

Hostile takeovers rarely succeed in the agribusiness industry "because mostly it is about the people running those businesses, proprietary insights and knowledge and the relationships that they have," Verghese explained. Takeovers have tended to be on a friendly "not on a hostile basis."


_______________________________________________________________________________________________________________________________________________



Ah Neh kong keling kia wei!
 

Merl Haggard

Alfrescian (Inf)
Asset
OLAM:Singapore Stock Quote - Olam International Ltd - Bloomberg
http://www.bloomberg.com/quote/OLAM:SP/

Open: 1.5200
Day's Range: 1.5100 - 1.5650
Close: 1.5600
Previous Close: 1.5000
Up S$0.06 or 4%
Volume: 45,048,000 (for today, 29 November 2012)



Let's see if this causes a bullish reversal from tomorrow onwards:

Olam Rebuffs Muddy Waters, Citing S$10 Billion Liquidity - Bloomberg
http://www.bloomberg.com/news/2012-...ers-claims-citing-s-10-billion-liquidity.html

Olam Says Balance Sheet `Strongest It's Ever Been': Video - Bloomberg
http://www.bloomberg.com/video/olam...st-it-s-ever-been-t5hXrtacQu6p4DTeWIvXhg.html


It's only a dead cat bounce!

Olam: Muddy Waters Offers To Pay For Debt Rating.

Olam's response to our November 27th report is remarkable in that, despite being 45 pages long, it fastidiously avoids addressing the vast majority of our points. The response is essentially a waste of toner, as much of it consists of canned presentation slides and consultant drivel. Where Olam's response attempts to be substantive, it contains numerous instances of irrelevant information, factual inaccuracies, misleading statements, and mischaracterizations of our report. However, the response does demonstrate Olam's continuing deluded denial of its fiscal problems. It seems the Titanic is still heading full steam toward the iceberg...

More information available here.
 

Zatoichi

Alfrescian
Loyal
It's only a dead cat bounce!
Whatever it is, let's see if Sunny was implying that Temasek would be the one taking over Olam, when he said this:
Takeovers have tended to be on a friendly "not on a hostile basis."
which is from: http://www.cnbc.com/id/50004251

Once again, to quote myself:
Monetary wealth is obviously not the be-all and end-all of the upper classes around the world, and I believe Temasek and the PAP should be smart enough to know that and act accordingly.
 

Zatoichi

Alfrescian
Loyal
But whore jinx is still safe and sound in Singapore, in spite of ruined reputation.
Ho Ching is obviously safe and sound in Singapore as long as she's still the wife of the Prime Minister, and as long as the PM has control over the police and the army, even though her reputation has been ruined in the eyes of anti-PAP and anti-Temasek Singaporeans.

But can the same be said for Carson Block?
His reputation has been ruined in the eyes of pro-PAP and pro-Temasek Singaporeans, right?
 
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watchman8

Alfrescian
Loyal
Ho Ching is obviously safe and sound in Singapore as long as she's still the wife of the Prime Minister, and as long as the PM has control over the police and the army, even though her reputation has been ruined in the eyes of anti-PAP and anti-Temasek Singaporeans.

But can the same be said for Carson Block?
His reputation has been ruined in the eyes of pro-PAP and pro-Temasek Singaporeans, right?
How much are you paid per rebuttal? Can we do a 30-70 split. I keep posting attacks on olam, and you do your job. We split proceed, ok?
 

Zatoichi

Alfrescian
Loyal
How much are you paid per rebuttal? Can we do a 30-70 split. I keep posting attacks on olam, and you do your job. We split proceed, ok?
Honestly, I'm not paid a single cent.
I'm just posting as a hobby because I have nothing better to do at the moment.

I'm not a prophet, so I don't know what will happen in the future.
I was just posting my own point of view based on my own personal insights.

If it turns out that Temasek decides to take over Olam, then even Temasek might become pro-Muddy Waters for indirectly giving Temasek the chance to buy Olam at a low price! haha
 

Dinkum

Alfrescian
Loyal
Honestly, I'm not paid a single cent.
I'm just posting as a hobby because I have nothing better to do at the moment.

I'm not a prophet, so I don't know what will happen in the future.
I was just posting my own point of view based on my own personal insights.

If it turns out that Temasek decides to take over Olam, then even Temasek might become pro-Muddy Waters for indirectly giving Temasek the chance to buy Olam at a low price! haha


How can you not get paid?

Even prostitutes also get paid.
 

watchman8

Alfrescian
Loyal
Honestly, I'm not paid a single cent.
I'm just posting as a hobby because I have nothing better to do at the moment.

I'm not a prophet, so I don't know what will happen in the future.
I was just posting my own point of view based on my own personal insights.

If it turns out that Temasek decides to take over Olam, then even Temasek might become pro-Muddy Waters for indirectly giving Temasek the chance to buy Olam at a low price! haha
Haha, don't try fooling us lah. If you dare, use the words "whore jinx" and "temasick" etc.

Also state your personal opinion on reputatuin of whore jinx, pinky and old man. don't qualify these opinion by saying that these are what you heard, or from anti-pap sinkies etc.
 

Zatoichi

Alfrescian
Loyal
Good! I hope The jinx whore makes Olam into another ABC Learning Centres.
Uh, I'm not sure what you mean...

Do you mean you would like Temasek to lose money because you hate Temasek?
But that would indirectly lose Singaporean taxpayers' money, right?

If yes, do you mean you don't care about Singaporeans as a whole (i.e. both pro-PAP and anti-PAP Singaporeans) becoming poorer financially?

Personally, I'm indifferent to what Olam, Temasek, Muddy Waters or anyone else says or does, simply because their decisions won't affect my personal life. But it's just an interesting story that I came across, and I couldn't resist posting about it! haha


Even prostitutes also get paid.
Yes, prostitutes, by definition, always expect monetary payment in one form or another.

But not all promiscuous women are prostitutes; some just like to be promiscuous for pleasure and not for money.


How can you not get paid?
Isn't it obvious that one possibility is that I don't NEED any payment from anyone for my postings?
Are you not aware of the many online posters around the world on any forum who just ENJOY posting their own OPINIONS about ANYTHING?
The PLEASURE of posting one's opinion is itself already a kind of "payment" for the effort.

As I've said before, money is not the be-all and end-all of living.


Haha, don't try fooling us lah.
But I'm really not trying to fool you.
Neither am I trying to force you to trust me.
If you don't trust me, just don't trust me, just as I, or anyone else, also wouldn't trust everything you say sometimes.


If you dare, use the words "whore jinx" and "temasick" etc.
This is not about daring or not daring.
Although I dare to criticize people, I just don't like to insult people unnecessarily by calling them vulgar names; it's not my usual style.

Besides, there are many women in the world who are whores and jinxes, right?
So how would calling someone "whore jinx" be useful in referring to a specific person I have in mind?
Wouldn't it be clearer and less confusing to refer to a person by his/her official name?

But if you still want me to use an offensive word to refer to upper-class people in general, it's simply "hypocrites".

In my opinion, "Hypocrite" is the most accurate word to use to describe upper-class people, especially those who like to show off their statuses; it's also highly offensive to them simply because they are either not aware that they are bad people pretending to be good, or even if they are aware of their evil deeds, they don't want anyone to know about their evil deeds and they want everyone to respect them and consider them to be "good" people because of their vanity and their addiction to the power that their social status gives them.

So anyone who dares to expose them as "hypocrites" is not only disrespecting them, he/she is also influencing others to disrespect them, which could potentially cause these upper-class people to lose their power and social status, which is what they value most, even more than their money.


Also state your personal opinion on reputatuin of whore jinx, pinky and old man.
In my personal opinion, if you're referring to the current PM of Singapore, his wife and his father, I think these 3 people are simply the ultimate de facto rulers in Singapore of Singaporeans, especially those who voted for the PAP.

For those who are pro-PAP, they obviously worship the above-mentioned unholy trinity, who will safeguard their worldly interests for as long as they live and remain obedient to them.

As for me, I do not want to place the eternal salvation of my soul in their hands, simply because I don't trust them to save it.

I have my own philosophy which I'm putting into practice in my life, but that's a secret! haha
 

watchman8

Alfrescian
Loyal
This is not about daring or not daring.
Although I dare to criticize people, I just don't like to insult people unnecessarily by calling them vulgar names; it's not my usual style.

Besides, there are many women in the world who are whores and jinxes, right?
So how would calling someone "whore jinx" be useful in referring to a specific person I have in mind?
Wouldn't it be clearer and less confusing to refer to a person by his/her official name?
The dare comes about because I think you need to show you rebuttals to your employer in order to claim credit or reward, hence there seem to be a clear reluctance to use descriptions that can offend them or open yourself to libel suits. From your writing style and meticulous rebuttal, you are likely a legal person who is tasked to offer comprehensive defense for ogam on some of the more popular online forum.

Are you or your colleagues also on shareinvestor forum, Bloomberg comments etc? Is this part of a disaster PR package bought by ogam or temasick?

Just curious, nothing malicious. Share some knowledge, ok?
 

Zatoichi

Alfrescian
Loyal
The dare comes about because I think you need to show you rebuttals to your employer in order to claim credit or reward, hence there seem to be a clear reluctance to use descriptions that can offend them or open yourself to libel suits.
Okay, if you still think I'm employed by Temasek or PAP after I say this, then I probably won't know how else to convince you:

Lee Kuan Yew is a hypocrite.
Lee Hsien Loong is a hypocrite
Ho Ching is a hypocrite, but I won't call her a "whore" or a "jinx"; it's just not my style, just as you also have your own style of writing.

Also, all 3 of them are enslavers, and are EVIL sinners, who are in danger of burning in HELL if they don't repent of their sins.


From your writing style and meticulous rebuttal, you are likely a legal person who is tasked to offer comprehensive defense for ogam on some of the more popular online forum.
I'm not sure if that's a compliment, but if you think my English is really that good, it might be because I'm making a special effort.
Believe it or not, I'm only a high school graduate! haha


Are you or your colleagues also on shareinvestor forum, Bloomberg comments etc?
No, I'm not.
And I don't have any colleagues.


Is this part of a disaster PR package bought by ogam or temasick?
Your suspiciousness is getting more and more comical. :rolleyes:


Just curious, nothing malicious. Share some knowledge, ok?
I think I've been sharing quite a bit so far, haven't I?
It's just up to you to accept it or not.

Other than the simple pleasure of expressing my own opinion, I honestly have nothing else to gain from it.
I'm not trying to spin out pro-Olam/Temasek propaganda, but I am sharing with everyone in this thread what I think Olam/Temasek MIGHT be intending to do in the future.

Also, I'm not saying that I've supported, or am supporting or will support, whatever Olam/Temasek have done, are doing, or might do in the future.
 
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Bigfuck

Alfrescian (Inf)
Asset
Okay, if you still think I'm employed by Temasek or PAP after I say this, then I probably won't know how else to convince you:

Also, I'm not saying that I've supported, or am supporting or will support, whatever Olam/Temasek have done, are doing, or might do in the future.

I am supported by the United Nations for freedom and the intergalactic courts of Justice. lol. It does not really matter. What Temasek and its goons are doing have opened a can of worms for them to be attacked from now on.
I would do it if I am on the other side. And there is not enough to offer the other side to look away otherwise. What they say and do is always different.
 
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