"Temasek raises stake in Olam - Channel NewsAsia"

[Zatoichi]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1243541/1/.html
(Posted: 19 December 2012 1250 hrs)

SINGAPORE: Temasek Holdings has raised its stake in commodity trader Olam International to 17 percent from 16.3 percent.

In a filing with the Singapore Exchange, Olam said Temasek had bought 200,000 shares for S$293,000 from the open market on Tuesday through its investment vehicle Aranda Investments.

In an emailed comment to Channel NewsAsia, a Temasek spokesperson said: "We have invested in Olam over several years. In our judgement, the company represents a reasonably attractive investment over the long term and we are pleased to have the opportunity to add to our stake."

Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.

This could potentially translate to the investment firm owning as much as 29 percent of Olam if it exercises all the warrants in 2016 at the earliest.

Kewalram Chanrai Group, Olam's largest investor with nearly a 20 percent stake, has also said it will back the issue.

Olam has been the target of short-seller Carson Block and his research firm Muddy Waters, which questioned the company's allegedly flawed accounting standards that they claimed masked its debts.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Statement: Temasek increases holdings in Olam International Ltd from 16.3% to 17%
http://www.temasek.com.sg/mediacentre/medialetters?detailid=18292
19 December 2012

Temasek confirms that we have increased our holdings in Olam International Ltd from 16.3% to 17%. We have notified the SGX accordingly.

As we have mentioned before, we have invested in Olam over several years. In our judgement, the Company represents a reasonably attractive investment over the long term, and we are pleased to have the opportunity to add to our stake

 

[Equalisation]

By Crom, they mati-mati mahu put gold in a leaking ship !

 

[streetsmart73]

By Crom, they mati-mati mahu put gold in a leaking ship !

hi there


1. aiyoh!
2. a huge disaster in the making again mah.
3. after all, it is just taxpayers' monies leh

 

[Mdm Tang]

By Crom, they mati-mati mahu put gold in a leaking ship !

R3 : H 1 , ENDOWING , put money take money .
put Gold take Gold at 8:15pm tonite

 

[Equalisation]

R3 : H 1 , ENDOWING , put money take money .
put Gold take Gold at 8:15pm tonite

Datin,

Kranji on leave until start of 2013. Cheers ! hic ....:o

 

[Goldeneye]

It is to flush out the short sh.t

I think olam will do well... Indians and Asians in general have been trading in hostile regions since the time Block's forefathers were in caves.... He is making nonsensical anal-isis mostly using what looks like racist presumptions. His report says " trading is too complex for new graduates from Indian management colleges" has he managed the insides of a paper bag successfully or traded anything other than his opinions?

I am not a supporter of tsek or Indian businesses ethics but we have to see crappy anal isis for what it is

 

[watchman8]

Have to prop up share price now, otherwise no one will subscribe to the new rights issue, and end up temasick got to swallow everything.

Note that ah neh and gang took more than a week to come out to say they will subscribe to the rights issue. Must have pledged their olam shares to spend all Liao. Probably if olam share price drop further the banks will foreclose on the pledged olam shares.

 

[Cestbon]

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1243541/1/.html
(Posted: 19 December 2012 1250 hrs)

SINGAPORE: Temasek Holdings has raised its stake in commodity trader Olam International to 17 percent from 16.3 percent.

In a filing with the Singapore Exchange, Olam said Temasek had bought 200,000 shares for S$293,000 from the open market on Tuesday through its investment vehicle Aranda Investments.

In an emailed comment to Channel NewsAsia, a Temasek spokesperson said: "We have invested in Olam over several years. In our judgement, the company represents a reasonably attractive investment over the long term and we are pleased to have the opportunity to add to our stake."

Earlier this month, Olam said Temasek is backing its rights issue of bonds and warrants to raise as much as US$1.2 billion.

This could potentially translate to the investment firm owning as much as 29 percent of Olam if it exercises all the warrants in 2016 at the earliest.

Kewalram Chanrai Group, Olam's largest investor with nearly a 20 percent stake, has also said it will back the issue.

Olam has been the target of short-seller Carson Block and his research firm Muddy Waters, which questioned the company's allegedly flawed accounting standards that they claimed masked its debts.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Statement: Temasek increases holdings in Olam International Ltd from 16.3% to 17%
http://www.temasek.com.sg/mediacentre/medialetters?detailid=18292
19 December 2012

Temasek confirms that we have increased our holdings in Olam International Ltd from 16.3% to 17%. We have notified the SGX accordingly.

As we have mentioned before, we have invested in Olam over several years. In our judgement, the Company represents a reasonably attractive investment over the long term, and we are pleased to have the opportunity to add to our stake

$293k =0.7% share.
So total company value only
$293k/0.7 x 100 = $41million nia.

 

[batman1]

Pouring good money to recover speculation losses like trying to scoop up sand in a quicksand.Here goes our CPF money in to the gutters.RIP.

 

[Narong Wongwan]

Anyone wants to predict timeline when this venture goes bust?

 

[GOD IS MY DOG]

ah neh is biggest shareholder ???!!!

and Temasek is throwing more money in ???!!!


time to SELL.............SHORT..............sure profit one !

 

[Zatoichi]

$293k =0.7% share.
So total company value only
$293k/0.7 x 100 = $41million nia.

16.3% was Temasek's last reported stake some weeks or months ago.

17% was Temasek's reported stake as of yesterday:
http://info.sgx.com/webcorannc.nsf/...50BBB34DCAD14A1F48257AD900012242?opendocument
http://info.sgx.com/webcoranncatth....le/19Dec2012-InterestChange_Form3-Temasek.pdf
Just before yesterday (i.e. end of Monday), it was 16.99%, which was not revealed to SGX until today.

As of now, there are about 2.4 billion shares.
So (17 - 16.99 = 0.01%) x 2.4 billion = 240,000 or roughly 200,000, which is correct.

This means that during the past few weeks, Temasek was buying Olam shares.
(17 - 16.3 = 0.7%) x 2.4 billion = 16.8 million, which is the approximate number of shares Temasek bought during the past few weeks, spending well over S$20 million.

 

[Zatoichi]

It's now 18%:

info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_958599A4BFC47BCF48257AD900524920/$file/20Dec2012-InterestChange_Form3-Temasek.pdf

"From 18 to 19 December 2012, Aranda Investments Pte. Ltd. (“Aranda”) entered into a series of transactions to purchase an aggregate of 23,893,000 voting shares of the Listed Issuer which resulted in the deemed interest of Temasek Holdings (Private) Limited (“Temasek”) increasing from 17% to 18% of the issued voting shares of the Listed Issuer, of which the last transaction to purchase 1,000 voting shares is the subject of this notification.

Following the transaction which is the subject of this notification, Temasek has a deemed interest in 430,239,283 voting shares of the Listed Issuer comprising:

i) a deemed interest in an aggregate of 428,868,453 voting shares of the Listed Issuer in which Temasek Capital (Private) Limited ("Temasek Capital") has a deemed interest.

Temasek has a controlling interest in Temasek Capital which, in turn, has a controlling interest in Seletar Investments Pte Ltd (“Seletar”) which, in turn, has a controlling interest in Aranda and Breedens Investments Pte. Ltd. (“Breedens”). Aranda holds 117,732,313 voting shares of the Listed Issuer and Breedens holds 311,136,140 voting shares of the Listed Issuer.

Temasek is therefore deemed, pursuant to section 4(4) of the Securities and Futures Act, Chapter 289 (the "SFA"), to have an interest in the 428,868,453 voting shares in which Temasek Capital is deemed to have an interest;

ii) a continued deemed interest in 471,830 voting shares in which DBS Group Holdings Ltd (“DBSH”) has a deemed interest.

Temasek has a more than 20% interest in DBSH, (directly and through its subsidiary, Maju Holdings Pte. Ltd.) and DBSH, in turn, has a controlling interest in DBS Bank Ltd. (“DBS Bank”). DBS Bank has a direct interest in 471,830 voting shares of the Listed Issuer. Temasek is therefore deemed, pursuant to section 4(5) of the SFA, to have an interest in the 471,830 voting shares of the Listed Issuer (representing approximately 0.02% of the issued voting shares) in which DBSH is deemed to have an interest; and

iii) a continued deemed interest in 899,000 voting shares as follows:

a. Temasek is the ultimate holding company of Seatown Holdings International Pte Ltd (the “Fund Manager”) which manages a feeder fund (the “Feeder Fund”) and a master fund (the “Master Fund”) (collectively, the “Funds”). The Master Fund has a deemed interest in 899,000 voting shares of the Listed Issuer (the “Shares”) pursuant to section 4(4) of the SFA. The Fund Manager has a deemed interest in the Shares pursuant to section 4(1) of the SFA. As Temasek has an indirect controlling interest in the Fund Manager, Temasek is therefore deemed, pursuant to section 4(4) of the SFA, to have an interest in Shares in which the Fund Manager has a deemed interest.

b. Temasek has a controlling interest in Seatown GP Pte Ltd (the “General Partner”), the General Partner of the Feeder Fund which in turn has a controlling interest in the Master Fund. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have an interest in the Shares in which the General Partner has a deemed interest. Temasek has a controlling interest in a limited partner of the Feeder Fund which is deemed to have an interest in the Shares pursuant to regulation 13(5) of the Securities and Futures (Disclosure of Interests) Regulations 2012. Temasek is therefore deemed, pursuant to section 4(4) of the SFA to have a deemed interest in the limited partners’ interests in the Shares.

The percentage of interest above is calculated on the basis of 2,390,213,869 issued voting shares of Olam International Limited as of 30 November 2012"

 

[laksaboy]

3. after all, it is just taxpayers' monies leh

The CPF is also another form of hidden taxation, so the CPF too.