Olam/Muddy Waters row feared to get 'nastier'

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O32.SI2.240.000

There seems to be no stopping Carson Black.

IG Markets Singapore said:

In Singapore, traders remain gripped by the Olam/Muddy Waters spat. But it is in danger of getting much nastier as Carson Black continues to throw barbs Olam’s way. In his detailed report he compared the commodity player to Enron and talked repeatedly about “low quality assets”.

Olam needs to come out all-guns-blazing in its response if it is to allay concerns among shareholders that these allegations are indeed “baseless” and stop the share price tumbling further.

Interestingly, Olam has asked for a trading halt on its shares this morning as trading floors become all abuzz as to what it is going to announce. It may be too early to see a break-up of the conglomerate or Temasek pulling out.



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