True value pre­vails in the longer term

Finally the truth value prevailed for another victim of the SGX market...


"The com­pany which sup­plies food and in­dus­trial raw ma­te­ri­als to over 13,800 cus­tomers glob­ally was tar­geted by Muddy Waters Re­search which had al­leged ac­count­ing mis­con­duct in the firm via a 133-page re­port back in Novem­ber 2012."

"Muddy Waters, set up by prom­i­nent US short seller Car­son Block, who found fame from his al­le­ga­tions of fraud­u­lent ac­count­ing prac­tices at Chi­nese firms, had said in the re­port that Olam could po­ten­tially fail as a re­sult of its mis­con­duct but Olam had fought back say­ing that it will clear its name and hold Muddy Waters ac­count­able for its al­le­ga­tions."

"Look­ing at how Olam has per­formed, the only way to counter the short sell­ers is to see that true value pre­vails in the longer term."

Excerpt from Star Biz.