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For every buyer there is a seller. So I dont know what you are getting at. If MW and the firm's clients are buying at $1.50 it means someone is willing to sell at $1.50.
counter ( Date: 20-Dec-2012 07:29) Posted:
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I don't think my holding of Olam's shares will ever exceed 5%. Anyway, thank you for your reminder.
Obfuscate ( Date: 20-Dec-2012 07:46) Posted:
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Like to share an excerpt from an article I read this morning,
Singapore
Olam has swamped Muddy Waters with huge volume and a strong rally, this is playing out exactly as we suggested, I will cover Olam and Muddy Waters tomorrow.
In Olam’s favor also is an improved outlook for the sector in 2013, food prices are expected to rise and regionally ASEAN +6 will speed up local GDP.
Of Muddy Waters seven attacks on companies in China, they all have a common theme, fraud and “accounting anomalies”, as I have said before they tend to feed off the Western view that those of us in Asia are somewhat less sophisticated, or more sinister than our counterparts in the West. Muddy Waters attacks work best when the shareholders are foreign entities, and Muddy Waters gets to cash in on their existing mistrust of China/Asia. Of course this is completely untrue, America most definitely has proven to be the country that produces corporate fraud at a level so vast it has more than once impacted the global economy.
It is important to remember when reading all the Muddy Waters press that not all of his targets have collapsed, and fraud has not always been proven, the Muddy Waters strike rate in relation to sinking companies or proving criminality is pretty low. What the Muddy Waters press machine does is create doubts on a company, without proof or accountability for a quick buck, while there is nothing wrong with making a quick buck, the Muddy Waters approach is beginning to wear thin, there are now a trail of innocent investors and managers whose businesses suffer lingering suspicion but with no proof of having committed any accounting breach.
But I do think it is harder to scare Singapore investors, wherever they are from. Singapore has a stellar reputation and rightfully so, that is why I predict that the Muddy Waters attack on Olam is a strategic error, Muddy Waters will lose this battle.
HERE IS THE LINK
There is no need to keep track of your cost. U have posted it. But u do know u need to notify the co & file your holdings with SGX once you pass a threshold dont u?
counter ( Date: 18-Dec-2012 07:22) Posted:
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Olam has swamped Muddy Waters with huge volume and a strong rally, this is playing out exactly as we suggested, I will cover Olam and Muddy Waters tomorrow.
In Olam’s favor also is an improved outlook for the sector in 2013, food prices are expected to rise and regionally ASEAN +6 will speed up local GDP.
http://www.livetradingnews.com/asean-market-preview-jaya-ancol-scientex-olam-thai-union-frozen-98934.htm
Dear Octavia,
A person would also reveal his position when people in the forum ask about it repeatedly. Although this is not a vital piece of information, there is nothing to hide either. I was suprised to find out that some people in the forum actually keep track of my position as the transactions were made at different points in time. I wonder whether they also keep track of my average cost. Worth pondering?
Octavia ( Date: 19-Dec-2012 10:30) Posted:
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Dear akchua,
Could I check with you if the last two lines, " Look like current action by Temasek is window dressing for Year end. Their investment in Olam is still in red after 3 years." , your addition to the original article in bloomberg?
http://www.bloomberg.com/apps/news?pid=newsarchive& sid=aYMBmvUz7RFQ
akchua ( Date: 20-Dec-2012 02:30) Posted:
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Did anyone catch the sharp rebound?
http://synapsetrading.com/2012/12/olam-catching-the-turn-over-9-profits-in-3-days/
Cheers
Spencer
June 1 (Bloomberg) -- Temasek Holdings Pte, Singapore’s state-owned investment company, agreed to buy a stake in Olam International Ltd., its first foray into commodities since naming Charles “Chip” Goodyear as chief executive officer- designate in February.
Breedens Investments Pte and Aranda Investments Pte, two Temasek subsidiaries, will pay S$437.5 million ($303 million) for 273.5 million new shares, or 13.76 percent, in Olam at S$1.60 apiece, the Singapore-based agricultural commodities supplier said in a statement. The price is 18 percent lower than the May 29 closing price of S$1.94.
Look like current action by Temasek is window dressing for Year end.
Their investment in Olam is still in red after 3 years
Hi I would like to know what will happen to my existing share after 28/12/12 if I don't take up any so call rights? Thks.
ok thanks Richardus. so can i say this known fact for now won't affect the current investment strategy to take on?
Richardus ( Date: 19-Dec-2012 18:52) Posted:
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The offer price for OLAM IPO was at $0.62, and temasek sold its holdings off at $1.57. Thats 60% return aka handsome profit.
76 million x 0.60 = 45.6 million.
Richardus ( Date: 19-Dec-2012 18:52) Posted:
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3 kingdom has no Accounting (but some Romance) which is key in this battle.
It is long way to go....small investors would be handicapped by late info and limited understanding of the intricate details
pasttime ( Date: 19-Dec-2012 14:02) Posted:
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These were sold in Mar 2006 at $1.57 per share according to SGX filing.
Obfuscate ( Date: 19-Dec-2012 18:48) Posted:
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According to Bloomberg article, Temasek held a 4.9 percent stake in Olam between 2002 and 2006. It invested in the company on a further three occasions, raising its stake to its current level in June last year. For the current situation (as per your question), the fact that Temasek had a stake even before listing, is of no significance.
The question however was raised when, Future made a comment about Temasek selling for a profit and then re-investing in Olam again. Still waiting for his reply on what's the source of this comment.
teohty ( Date: 19-Dec-2012 18:06) Posted:
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Temasek had 75.5m shares representing 5.04 pct of the enlarged share capital at IPO. Info from the IPO prospectus.
Future ( Date: 19-Dec-2012 15:53) Posted:
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pardon me if i sound stupid, but is Temasek being Olam's shareholder even before Olam was listed on SGX a good thing or a bad thing for the current situation? And why?
Please share the data...
Do you mean that the " handsome profit" is bigger than what Temasek holding on right now??
Temasek 200,000 shares purchase today does look like a jab to boost morale or make news....
Future ( Date: 19-Dec-2012 15:40) Posted:
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Thanks, Future!
Read all of it just now but can not find any mention of selling before re-investing again. Can you point me in right direction to find this info? Cheers mate!
Future ( Date: 19-Dec-2012 15:53) Posted:
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I found that article on the web, where e same source was quote saying there will be big buying in the afternoon which apprently already occured. Not sure if the information is supposed to be private. So take it with a pinch of salt and exercise your own judgement.
It could be just rumours, but the content supported my own analysis on OLAM, that's why i posted.
Octavia ( Date: 19-Dec-2012 15:45) Posted:
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