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jwblue Member	05-Nov-2013 10:06        jwblue About Contact  Quote this Post!
x 0   x 0  Alert Admin	In response to OLAM investor's concerns about debt the company is reorganizing.   The concern was unwarranted  and was influenced by Muddy Waters' opinion. (Olam Chief Executive Officer Sunny Verghese  )Verghese said Olam is on track to be free-cashflow positive in the year to June 2014, one year earlier than previously forecast. He added that the company's debt-to-equity ratio is below two times and the company can maintain this level. We regularly are in contact with our investors, they are very pleased with the recalibrated stand and they are waiting to see how we execute," he said. " But they have to be patient and we have to guide them to be patient because none of the measures that we are taking are short fixes, they will take time to execute."   http://www.reuters.com/article/2013/11/04/us-commodities-summit-olam-idUSBRE9A30D420131104
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EZ3626 Veteran	05-Nov-2013 09:34        EZ3626 About Contact  Quote this Post!
x 0   x 1  Alert Admin	Indeed. Just as I have mentioned. The news allow the sellers to offload their position. That news is nothing ... it only goes to show that Olam has liquidity problem. That amount which we thought is substantial is nothing .... a drop in the bucket compare to the debts that they are having ..... will go below $1.4 Waiting for MW to make the next statement. Watch and see .....
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beginners Veteran	04-Nov-2013 18:27        beginners About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think will shit down when XD and after.
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jj7007 Veteran	04-Nov-2013 12:21        jj7007 About Contact  Quote this Post!
x 0   x 0  Alert Admin	14/11 results..
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Rosesyrup Master	04-Nov-2013 10:49        Rosesyrup About Contact  Quote this Post!   Yells: "Get your own opinion, don't follow blindly."
x 0   x 0  Alert Admin	Cheong ah! jj7007      ( Date: 04-Nov-2013 10:45) Posted: Funny how people can think that pullbacks after a fast run up means the share is in trouble. Fact is that even at 1.495 its still higher that 1.445 when it ran last week. I rather there is profit taking and consolidation on the table so that there is room for more sustain price appreciation. People wanna hear what they wanna hear and believe what they wanna believe. Thats why we all lose $ in stocks hahaha Shortist also must cover position one, olam can be illiquid at times so good luck to them.
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jj7007 Veteran	04-Nov-2013 10:45        jj7007 About Contact  Quote this Post!
x 0   x 1  Alert Admin	Funny how people can think that pullbacks after a fast run up means the share is in trouble. Fact is that even at 1.495 its still higher that 1.445 when it ran last week. I rather there is profit taking and consolidation on the table so that there is room for more sustain price appreciation. People wanna hear what they wanna hear and believe what they wanna believe. Thats why we all lose $ in stocks hahaha Shortist also must cover position one, olam can be illiquid at times so good luck to them.
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jwblue Member	04-Nov-2013 10:06        jwblue About Contact  Quote this Post!
x 0   x 1  Alert Admin	Finally someone that sees things my way!   Long Olam!       jj7007      ( Date: 04-Nov-2013 09:37) Posted: Olam high debt? this is very old news lah, way before the stupid angmorican announced he was shorting it. It has always been very high geared since 5 yrs ago, and paying very high interested on some syndicate loans but hey they are making $. At the price, they are actually still lagging the market.  Me sold at 1.595 and started buying back slowly from 1.51 and below. Was a little excited and went in a little early. Having said that, i'm no big time punter or contra player, so price dips don't kill me. Positioned for a nice year end rally
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jj7007 Veteran	04-Nov-2013 09:37        jj7007 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Olam high debt? this is very old news lah, way before the stupid angmorican announced he was shorting it. It has always been very high geared since 5 yrs ago, and paying very high interested on some syndicate loans but hey they are making $. At the price, they are actually still lagging the market.  Me sold at 1.595 and started buying back slowly from 1.51 and below. Was a little excited and went in a little early. Having said that, i'm no big time punter or contra player, so price dips don't kill me. Positioned for a nice year end rally
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Rosesyrup Master	03-Nov-2013 02:15        Rosesyrup About Contact  Quote this Post!   Yells: "Get your own opinion, don't follow blindly."
x 0   x 1  Alert Admin	Lol, pretty excited. I have been waiting for months for this moment. mystical      ( Date: 03-Nov-2013 01:44) Posted: Hope you don't mind, I just want to join in your discussion as it is very interesting. _____ Olam was heavily shorted on 1 Nov. of the 3.5M vol sold and 3M was from short selling vol. With the average trading price between $1.5 to $1.49. around 3M vol. I suspect that 50% of the short seller has not recovered their position.  On monday 4 Nov, I expect the counter price to shoot back between $1.53 to $1.54 for the 1st 10mins and stabilize around that range. Olam's dividend is still consider quite attractive.
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mystical Member	03-Nov-2013 01:44        mystical About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Hope you don't mind, I just want to join in your discussion as it is very interesting. _____ Olam was heavily shorted on 1 Nov. of the 3.5M vol sold and 3M was from short selling vol. With the average trading price between $1.5 to $1.49. around 3M vol. I suspect that 50% of the short seller has not recovered their position.  On monday 4 Nov, I expect the counter price to shoot back between $1.53 to $1.54 for the 1st 10mins and stabilize around that range. Olam's dividend is still consider quite attractive.
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Rosesyrup Master	01-Nov-2013 11:59        Rosesyrup About Contact  Quote this Post!   Yells: "Get your own opinion, don't follow blindly."
x 0   x 0  Alert Admin	I don't know your risk appepite and amount of capital. But I suggest you diversify your portfolio and limit the weightage you place on this counter.   Though I see high potential on this counter. But I agree with them on the amount of risk needed to undertake too. SO do your own due dilligence. danytan      ( Date: 01-Nov-2013 10:04) Posted: Sis, are you vested in olam?
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Obfuscate Senior	01-Nov-2013 11:01        Obfuscate About Contact  Quote this Post!
x 0   x 1  Alert Admin	Correct if you are referring to survival. But look at its share price... it is still less than half the pre GFC high. jwblue      ( Date: 01-Nov-2013 10:50) Posted: Debt is not an issue as long as there is enough cash flow and a source of funding.   Olam seems to have both.
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Octavia Supreme	01-Nov-2013 11:00        Octavia About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Had it not for Temasek backing I see the px going down to 40c.Bcos of its enormous debt otherwise some gd knight cld have taken her private long time ago. Octavia      ( Date: 01-Nov-2013 08:40) Posted: Muddy Waters: Game over for Olam if Temasek pulls out Almost a year after it first released its report on Olam International, shortselling research firm Muddy Waters is not letting up on the agri-commodities trader yet. " My view is that if Temasek decides tomorrow that it wanted out of this investment, it would be game over within months for them, without Temasek's backstop," its research director Carson Block told The Business Times in his first visit to Singapore since launching its report against Olam last November. " For us, the be-all and end-all when we're looking at Olam is free cashflow. It's a company that seems to be in general wholly-incapable of generating free cash flow. It takes on more and more debt, and eventually, this debt has to be repaid." The shortseller had late last year accused Olam of relying on accounting tricks to boost its bottomline, spending too much on poor quality assets, and said it valued Olam on a " liquidation basis" . The attack, the first of its kind in Singapore, caused Olam's shares to fall 20 per cent to a low of $1.395 at the height of the saga, and subsequently led to an overhaul of Olam's plans after a strategic review. The firm said that it now aims to be free cashflow positive from the 2014 financial year onwards, a year earlier than its original target of FY2015, and has laid out plans to cut planned capital expenditure, monetise its balance sheet and divest certain assets. Mr Block said of these: " The company's saying the right things. The question is whether it actually does those things. It might have become slightly more selective, but you still see substantial cash burn in the company." " Maybe they can finance their way out of it, however many more times, but there will come a day - it might be sooner, it might be later - when the market will not be open to this company." In August, Olam reported a negative free cashflow of $316 million for the 2013 financial year, compared with negative $661 million a year before. Olam's net gearing now stands at 1.93 times, as compared to 2.20 times the previous quarter, and 1.81 times at the end of FY2012. When asked if Muddy Waters still retains a short position on the firm, Mr Block said it does not usually comment on its positions aside from the release of its reports. But in a hint that Muddy Waters is still short on Olam, he added: " Obviously we're usually used to winning within a shorter period of time. Fortunately for many of the names we've shorted in the past, we haven't really had to think to answer that question. Olam is different." Shares for Olam, and Muddy Waters' target after that, US cellphone antenna operator American Towers, had not dropped as much as the shortseller's earlier targets, leading to talk that its influence has faded. In a sign that its streak of lacklustre results is ending, however, Muddy Waters' latest report launched last Thursday against Chinese mobile services provider NQ Mobile led to its shares falling more than 60 per cent within an hour. Temasek moving into the ring to support Olam was a move that the shortseller had not foreseen, Mr Block admitted. " We looked at it from a purely economic standpoint, which is that it is not an investible company, and maybe we ignored the political elements of this, the psychological element, the issues that were more systemic in Singapore that could interest a sovereign in a bailout," he said. Two weeks after Muddy Waters spoke out against Olam, Temasek, then the firm's second-largest shareholder, threw its weight behind Olam by agreeing not just to take up its pro-rata entitlement of Olam's US$1.25 billion bonds-cum-warrants rights issue, but also sub-underwrite it. The issue was eventually 1.1 times subscribed. Temasek has also since then progressively increased its ownership of Olam, from an initial 16.3 per cent before the Muddy Waters attack to 24.07 per cent now. In Mr Block's view, Temasek had stepped in because of the wider implications that an Olam collapse would have posed to the commodity-trading industry in Singapore. " If Olam had failed, what would the banks have done with the other commodity houses that are borrowing in Singapore?" he said. " It's reasonable to assume that if the banks had to write off losses to Olam, you could have a real funding freeze for the commodity trading industry in Singapore. " Temasek's spokesman Stephen Forshaw said the Singapore investment company's reason for investing in Olam remained the same: " We have been, and remain, supportive of its publicly known strategy to take the opportunity, in recent years, to add on more upstream and midstream capabilities and capacities. " We also acknowledged that no business is without risks. But that said, at the time of the investment, we were comfortable with Olam's credit position and longer term prospects, and were very pleased to have another opportunity to invest in the company, alongside others."
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jwblue Member	01-Nov-2013 10:50        jwblue About Contact  Quote this Post!
x 0   x 0  Alert Admin	Debt is not an issue as long as there is enough cash flow and a source of funding.   Olam seems to have both.
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EZ3626 Veteran	01-Nov-2013 10:47        EZ3626 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Com'on don't take too long to come to your senses ..... which Olam's pillars/legs you want to support.  Cantonese's saying " 没 眼 看 ? cannot bear to see the end of it 。 。 。
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Obfuscate Senior	01-Nov-2013 10:41        Obfuscate About Contact  Quote this Post!
x 0   x 1  Alert Admin	Olam has a good portfolio of products but its funding policy is pulling it down. It is drowning in debt. Here is the best indicator: total debt at 30 Jun $8.85 bn. Total mkt cap  today $3.68 bn. I am very interested to see how it is going to fund its operations going forward.
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Obfuscate Senior	01-Nov-2013 10:32        Obfuscate About Contact  Quote this Post!
x 0   x 1  Alert Admin	Rosesyrup already said he/she is in the money, meaning he/she bot below current mkt px. Its on record. Rosesyrup      ( Date: 29-Oct-2013 13:57) Posted: Friend, you can ignore the thumb up/down system. I too  received many thumbs down, but I don't care.  I am  here to share and get info to earn money not to earn thumb up/down. I am currently in the money and I don't mind exiting if what you said were true. But the problem here is you keep posting something that cannot be substantiated. You started off with some exaggerated claim that Olam overhauled management team. In fact only 2 directors stepped down. I mean seriously.... Now you claimed that you heard from grapevine  shortists want to short this counter, but never tell where your grapevine extended from. Grapevine from your 10k net worth colleague and  billion net worth friends can be very different. We can't assess the strength of your claims don't even mention verify.   Best of all, you  mentioned MW's comment which was made months ago " OLAM not changing old way" . Negativity aside, I don't understand why you always choose to post some " news" that cannot be verified, I mean what's the point? And whenever I tried to verify your 'news' you never failed to  escape with  the answer 'your money you decide....mymoney...'. Come on,  I am just trying to verify things, how can I possible decide on where you use your money.  Your tendency to  avoid giving direct answer  is a mystery that I have yet to solve.    If you really think olam is really that bad, why don't you just short it and let us know  your TP and analysis? Don't you think it's more healthy to share objective analysis here rather than some rumor?   Anyway the only reason I still stay in this stock is that I am eye the big pie of $3.20. Now shortists you are welcome to thumb down me :) EZ3626      ( Date: 29-Oct-2013 08:39) Posted: This BB is still vunerable. I heard through the grapevine, the shortists are going to hoot this BB ..... they said this BB is going to be under attacked again.  As I have mentioned, too risky to enter (speaking for myself) ... shall watch and see as the day draws near.    Also, Muddy Water has posted some comments ... he is at it again. Agreed with roostertan it is their poor management.  Hope the management is vigilant ....
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danytan Master	01-Nov-2013 10:04        danytan About Contact  Quote this Post!   Mood: Yells: "Up up and away!"
x 0   x 0  Alert Admin	Sis, are you vested in olam?
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Rosesyrup Master	01-Nov-2013 10:01        Rosesyrup About Contact  Quote this Post!   Yells: "Get your own opinion, don't follow blindly."
x 0   x 0  Alert Admin	LOL Who game over? Octavia      ( Date: 01-Nov-2013 08:40) Posted: Muddy Waters: Game over for Olam if Temasek pulls out Almost a year after it first released its report on Olam International, shortselling research firm Muddy Waters is not letting up on the agri-commodities trader yet. " My view is that if Temasek decides tomorrow that it wanted out of this investment, it would be game over within months for them, without Temasek's backstop," its research director Carson Block told The Business Times in his first visit to Singapore since launching its report against Olam last November. " For us, the be-all and end-all when we're looking at Olam is free cashflow. It's a company that seems to be in general wholly-incapable of generating free cash flow. It takes on more and more debt, and eventually, this debt has to be repaid." The shortseller had late last year accused Olam of relying on accounting tricks to boost its bottomline, spending too much on poor quality assets, and said it valued Olam on a " liquidation basis" . The attack, the first of its kind in Singapore, caused Olam's shares to fall 20 per cent to a low of $1.395 at the height of the saga, and subsequently led to an overhaul of Olam's plans after a strategic review. The firm said that it now aims to be free cashflow positive from the 2014 financial year onwards, a year earlier than its original target of FY2015, and has laid out plans to cut planned capital expenditure, monetise its balance sheet and divest certain assets. Mr Block said of these: " The company's saying the right things. The question is whether it actually does those things. It might have become slightly more selective, but you still see substantial cash burn in the company." " Maybe they can finance their way out of it, however many more times, but there will come a day - it might be sooner, it might be later - when the market will not be open to this company." In August, Olam reported a negative free cashflow of $316 million for the 2013 financial year, compared with negative $661 million a year before. Olam's net gearing now stands at 1.93 times, as compared to 2.20 times the previous quarter, and 1.81 times at the end of FY2012. When asked if Muddy Waters still retains a short position on the firm, Mr Block said it does not usually comment on its positions aside from the release of its reports. But in a hint that Muddy Waters is still short on Olam, he added: " Obviously we're usually used to winning within a shorter period of time. Fortunately for many of the names we've shorted in the past, we haven't really had to think to answer that question. Olam is different." Shares for Olam, and Muddy Waters' target after that, US cellphone antenna operator American Towers, had not dropped as much as the shortseller's earlier targets, leading to talk that its influence has faded. In a sign that its streak of lacklustre results is ending, however, Muddy Waters' latest report launched last Thursday against Chinese mobile services provider NQ Mobile led to its shares falling more than 60 per cent within an hour. Temasek moving into the ring to support Olam was a move that the shortseller had not foreseen, Mr Block admitted. " We looked at it from a purely economic standpoint, which is that it is not an investible company, and maybe we ignored the political elements of this, the psychological element, the issues that were more systemic in Singapore that could interest a sovereign in a bailout," he said. Two weeks after Muddy Waters spoke out against Olam, Temasek, then the firm's second-largest shareholder, threw its weight behind Olam by agreeing not just to take up its pro-rata entitlement of Olam's US$1.25 billion bonds-cum-warrants rights issue, but also sub-underwrite it. The issue was eventually 1.1 times subscribed. Temasek has also since then progressively increased its ownership of Olam, from an initial 16.3 per cent before the Muddy Waters attack to 24.07 per cent now. In Mr Block's view, Temasek had stepped in because of the wider implications that an Olam collapse would have posed to the commodity-trading industry in Singapore. " If Olam had failed, what would the banks have done with the other commodity houses that are borrowing in Singapore?" he said. " It's reasonable to assume that if the banks had to write off losses to Olam, you could have a real funding freeze for the commodity trading industry in Singapore. " Temasek's spokesman Stephen Forshaw said the Singapore investment company's reason for investing in Olam remained the same: " We have been, and remain, supportive of its publicly known strategy to take the opportunity, in recent years, to add on more upstream and midstream capabilities and capacities. " We also acknowledged that no business is without risks. But that said, at the time of the investment, we were comfortable with Olam's credit position and longer term prospects, and were very pleased to have another opportunity to invest in the company, alongside others."
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Octavia Supreme	01-Nov-2013 08:40        Octavia About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Muddy Waters: Game over for Olam if Temasek pulls out Almost a year after it first released its report on Olam International, shortselling research firm Muddy Waters is not letting up on the agri-commodities trader yet. " My view is that if Temasek decides tomorrow that it wanted out of this investment, it would be game over within months for them, without Temasek's backstop," its research director Carson Block told The Business Times in his first visit to Singapore since launching its report against Olam last November. " For us, the be-all and end-all when we're looking at Olam is free cashflow. It's a company that seems to be in general wholly-incapable of generating free cash flow. It takes on more and more debt, and eventually, this debt has to be repaid." The shortseller had late last year accused Olam of relying on accounting tricks to boost its bottomline, spending too much on poor quality assets, and said it valued Olam on a " liquidation basis" . The attack, the first of its kind in Singapore, caused Olam's shares to fall 20 per cent to a low of $1.395 at the height of the saga, and subsequently led to an overhaul of Olam's plans after a strategic review. The firm said that it now aims to be free cashflow positive from the 2014 financial year onwards, a year earlier than its original target of FY2015, and has laid out plans to cut planned capital expenditure, monetise its balance sheet and divest certain assets. Mr Block said of these: " The company's saying the right things. The question is whether it actually does those things. It might have become slightly more selective, but you still see substantial cash burn in the company." " Maybe they can finance their way out of it, however many more times, but there will come a day - it might be sooner, it might be later - when the market will not be open to this company." In August, Olam reported a negative free cashflow of $316 million for the 2013 financial year, compared with negative $661 million a year before. Olam's net gearing now stands at 1.93 times, as compared to 2.20 times the previous quarter, and 1.81 times at the end of FY2012. When asked if Muddy Waters still retains a short position on the firm, Mr Block said it does not usually comment on its positions aside from the release of its reports. But in a hint that Muddy Waters is still short on Olam, he added: " Obviously we're usually used to winning within a shorter period of time. Fortunately for many of the names we've shorted in the past, we haven't really had to think to answer that question. Olam is different." Shares for Olam, and Muddy Waters' target after that, US cellphone antenna operator American Towers, had not dropped as much as the shortseller's earlier targets, leading to talk that its influence has faded. In a sign that its streak of lacklustre results is ending, however, Muddy Waters' latest report launched last Thursday against Chinese mobile services provider NQ Mobile led to its shares falling more than 60 per cent within an hour. Temasek moving into the ring to support Olam was a move that the shortseller had not foreseen, Mr Block admitted. " We looked at it from a purely economic standpoint, which is that it is not an investible company, and maybe we ignored the political elements of this, the psychological element, the issues that were more systemic in Singapore that could interest a sovereign in a bailout," he said. Two weeks after Muddy Waters spoke out against Olam, Temasek, then the firm's second-largest shareholder, threw its weight behind Olam by agreeing not just to take up its pro-rata entitlement of Olam's US$1.25 billion bonds-cum-warrants rights issue, but also sub-underwrite it. The issue was eventually 1.1 times subscribed. Temasek has also since then progressively increased its ownership of Olam, from an initial 16.3 per cent before the Muddy Waters attack to 24.07 per cent now. In Mr Block's view, Temasek had stepped in because of the wider implications that an Olam collapse would have posed to the commodity-trading industry in Singapore. " If Olam had failed, what would the banks have done with the other commodity houses that are borrowing in Singapore?" he said. " It's reasonable to assume that if the banks had to write off losses to Olam, you could have a real funding freeze for the commodity trading industry in Singapore. " Temasek's spokesman Stephen Forshaw said the Singapore investment company's reason for investing in Olam remained the same: " We have been, and remain, supportive of its publicly known strategy to take the opportunity, in recent years, to add on more upstream and midstream capabilities and capacities. " We also acknowledged that no business is without risks. But that said, at the time of the investment, we were comfortable with Olam's credit position and longer term prospects, and were very pleased to have another opportunity to invest in the company, alongside others."
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