Olam Group    Last:1.25   -

Olaim Group Financial Results

The chart point to 70-80c lah...

Mandmx      ( Date: 13-Sep-2023 09:38) Posted: The price is decline is due to all these uncertainties about the investigation and none of us is wiser. The ultimate question is if there is indeed fraud involved on a big scale, what could be the price impact..

 

Only Temasek can help when the shares are attacked by shortist.

 

Let's see if company does any buy backs today.

 

Wow shortist made good profits from Olam

 

The price is decline is due to all these uncertainties about the investigation and none of us is wiser. The ultimate question is if there is indeed fraud involved on a big scale, what could be the price impact..

 

Not sure of that country rule .....BUT in Spore if CPIB investigate anyone ...." YOU ARE NOT ALLOW TO DISCLOSE IT "  
further it is an individual ....so anyone can b call up . 
I really wld not read too much into it ......which is what the article wishes people to do .LOL 
DYODD

luckyguy3      ( Date: 13-Sep-2023 09:30) Posted: thats why but they never do that lo... means got investigation liao FrancisLim      ( Date: 13-Sep-2023 09:12) Posted: --- Post Removed by User ---

 

No wind no waves must very alert to avoid mistake

 

That is what the article aim to do . 
Political link in that country and likely ( anyone w big $) can be call up for interview ( or claim investigation ) 
All you know they are the nett shortist now. 
After a while ( they can reverse and claim NOthing found w this person LOL ) and they are nett gain either way. 
This are cycles that N make $$ ........trust source ...do you think T 51% Misubishi 15% owners wld NOT check ( both make up majority of the board right) 
Anyway .....( yes if anything cld happen then nothing to say) but in life we need to learn which is a more trusted source . 
DYODD . 

eddyeddy      ( Date: 13-Sep-2023 09:22) Posted: The fact is the damage has been done to the share price . FATABA      ( Date: 13-Sep-2023 08:54) Posted: I am surprise some of you believe in the " Daily N " news .....lol  Hv you ask if it is reliable .....or another no smoke without fire ......U can light a match stick and claim a huge fire  is coming to ..( hahaha )  Dyodd

 

Why the incharge Mr Kanth in Nigeria need a money bond to continue cooperation with authority ?

 

thats why but they never do that lo... means got investigation liao

FrancisLim      ( Date: 13-Sep-2023 09:12) Posted: --- Post Removed by User ---

 

The fact is the damage has been done to the share price .

FATABA      ( Date: 13-Sep-2023 08:54) Posted: I am surprise some of you believe in the " Daily N " news .....lol  Hv you ask if it is reliable .....or another no smoke without fire ......U can light a match stick and claim a huge fire  is coming to ..( hahaha )  Dyodd

 

无 风 不 起 浪 ， 小 心 为 妙

 

N1 billion is about USD1.34m dollars...expensive bond to put up.....dark waters

 

I am surprise some of you believe in the " Daily N " news .....lol 
Hv you ask if it is reliable .....or another no smoke without fire ......U can light a match stick and claim a huge fire  is coming to ..( hahaha ) 
Dyodd

 

Appears to me that this is more like a witch hunting campaign by the authorities without any substantial evidence and they are merely doing the audit checks for evidence now.

zmatrixale      ( Date: 12-Sep-2023 21:14) Posted: This got me reading more into what's going on in Nigeria and it certainly looks like a lot of drama happening given the change in leadership and what seems to be politically motivated actions to go after the previous Central Bank Governor, which is spilling over into Olam and others. Messy indeed. Hope it doesn't drag out too long. luckyguy3      ( Date: 12-Sep-2023 19:32) Posted: http://dailynigerian.com/multibillion-dollar-fraud-olam/ Olam Nigeria Limited has paid a huge bail bond of N1billion to secure the release of one of its directors, Prakash Kanth. The payment was made into a special recovery account operated by  the State Security Service, SSS. Other top executives of the company have reportedly fled the country in the wake of the arrest of the governor of the Central Bank of Nigeria, Godwin Emefiele and his accomplices.

 

This got me reading more into what's going on in Nigeria and it certainly looks like a lot of drama happening given the change in leadership and what seems to be politically motivated actions to go after the previous Central Bank Governor, which is spilling over into Olam and others. Messy indeed. Hope it doesn't drag out too long.

luckyguy3      ( Date: 12-Sep-2023 19:32) Posted: http://dailynigerian.com/multibillion-dollar-fraud-olam/ Olam Nigeria Limited has paid a huge bail bond of N1billion to secure the release of one of its directors, Prakash Kanth. The payment was made into a special recovery account operated by  the State Security Service, SSS. Other top executives of the company have reportedly fled the country in the wake of the arrest of the governor of the Central Bank of Nigeria, Godwin Emefiele and his accomplices.

 

Actually is just small issue, 1/3 of Olam agri already belong to Saudi 😜 , even if real, the fraud is done behind Olam back. Therefore worse case is being fined by Nigeria. Main concern is affecting the Olam agriculture IPO.

Alignment      ( Date: 12-Sep-2023 19:56) Posted: I start off fby asking myself what do I know for sure? What I know for a fact is that the comments the article made relating to Ivory Coast and ICE were totally wrong and/or misleading. That makes me attribute limited credibility to the rest of the article. In contrast, I know that the Olam announcement relating to Ivory Coast and ICE were accurate and truthful. It therefore adds to the credibillity of what they are saying with respect to Nigeria.  Olam have acknowledged that the relevant Nigerian authorities have made enquires. Fair enough. Looking at examples of outcomes of allegations of this nature in the past, I don' t think the size of any penalty for Olam, if indeed there was any wrongful activity, is likely to be material for Olam. Not wishing to be blaise, but commodity companies get fined all the time and they are almost always slaps on the wrist. Finally, I think the fact that this is an Olam Agri business which SALIC recently bought a significant stake in is helpful in various ways. They would have done significant DD ahead of their acquisition (facilitated by Temasek). The comparison with FTX some people have made on this forum is frankly ridiculous, as the level of information Temasek will have for a company they control is totally different from a speculative tech punt. Meanwhile politically this would have been an important deal for Saudi, which has good relations with Nigeria. Nigeria may not care too much about annoying Singapore, but it will care about Saudi Arabia. I could be wrong. Clearly a lot of money has concerns. Let' s see.

 

I start off fby asking myself what do I know for sure? What I know for a fact is that the comments the article made relating to Ivory Coast and ICE were totally wrong and/or misleading. That makes me attribute limited credibility to the rest of the article. In contrast, I know that the Olam announcement relating to Ivory Coast and ICE were accurate and truthful. It therefore adds to the credibillity of what they are saying with respect to Nigeria. 

Olam have acknowledged that the relevant Nigerian authorities have made enquires. Fair enough. Looking at examples of outcomes of allegations of this nature in the past, I don' t think the size of any penalty for Olam, if indeed there was any wrongful activity, is likely to be material for Olam. Not wishing to be blaise, but commodity companies get fined all the time and they are almost always slaps on the wrist.

Finally, I think the fact that this is an Olam Agri business which SALIC recently bought a significant stake in is helpful in various ways. They would have done significant DD ahead of their acquisition (facilitated by Temasek). The comparison with FTX some people have made on this forum is frankly ridiculous, as the level of information Temasek will have for a company they control is totally different from a speculative tech punt. Meanwhile politically this would have been an important deal for Saudi, which has good relations with Nigeria. Nigeria may not care too much about annoying Singapore, but it will care about Saudi Arabia.

I could be wrong. Clearly a lot of money has concerns. Let' s see.     

 

http://dailynigerian.com/multibillion-dollar-fraud-olam/

Olam Nigeria Limited has paid a huge bail bond of N1billion to secure the release of one of its directors, Prakash Kanth.

The payment was made into a special recovery account operated by  the State Security Service, SSS.

Other top executives of the company have reportedly fled the country in the wake of the arrest of the governor of the Central Bank of Nigeria, Godwin Emefiele and his accomplices.

 

The Nigerian govt never deny that there is investigation leh... so must be real lo..

if news article fake, Nigerian govt will come out and say they are not investigating and the news is fake right? 

Alignment      ( Date: 12-Sep-2023 18:26) Posted: It' s amazing that a news article of such dubious credibility was able to move the share price of a multibillion market cap company in such a way. Olam must have a lot of speculative shareholders who have not done their research and who therefore are easily scared into dumping their shares.