A war of words between Olam and Block began when the Muddy Waters research director accused the Singapore-based company of booking profits on transactions before it’s clear how they would work out over time. Olam Chief Executive Officer Sunny Verghese said on November 20th the statements were designed to panic shareholders of the company, which is also one of the top three coffee traders globally.
'Whatever that has happened, it had some serious impact on Olam, its share price, and investors', Leng Seng Choon, an analyst at DMG & Partners Securities in Singapore, said by phone.
Hit the link below to access the complete Bloomberg article:
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