Olam Group    Last:1.28    -0.02

Olaim Group Financial Results

I think very hard to assess the geopolitical risk as a retail shareholder under the influence of the western hemisphere unless you have private equity interest, trusted contacts in that North African region. Even the Niger (Nigeria' s northern neighbour) coup also if I didn' t read/listen to alternative news also very hard to get information on why its happening, the history behind Francophone Africa and the players involved. And it wasn' t even much in the news say 1 month ago, but seems to have been stirring for quite some time.

yuhanooi      ( Date: 13-Sep-2023 11:20) Posted: Olam creates a lot of empolyment is Nigeria, I don' t think it is in the new government' s interest to kill it. Likely outcome is a fine on the FX transgressions ( there was complicated fx rules, before the 36% devaluation in June). Hope the legal team and negotiators get a lenient deal. Dyodd.

 

Don' t think will fall below 0.5x PB, below $1, I will buy. Olam Nigera is agri unit ( 1/3 already below to Saudi )

 

given such uncertainty, i cut half my holdings....see can buyback cheap later. but my track record is cut then chiong lol
the way i see, it will take some time for major players to respond, not easy especially you talking abt african countries...bo jeng hu one...
and one bro talking about skeletons...sometimes these skeletons are created by country politics, company hands tied, bobian already doing biz in that country

 

Cut lost and preserves capital to minimized the pain and further damage I think is a wise choice rather than wait and see.   

 

  auditors any have endorse and collect money , at the end retail investers suffer , auditors no suffer nothing and enjoying

eddyeddy      ( Date: 13-Sep-2023 12:58) Posted: Olam said that fraud was untrue , but now seems to admit it is true by posting a bond ? If untrue still need to post a bond for its director?

 

Olam said that fraud was untrue , but now seems to admit it is true by posting a bond ? If untrue still need to post a bond for its director?

 

Olam said that fraud was untrue , but now seems to admit it is true by posting a bond ? If untrue still need to post a bond for its director?

 

If the fraud is real, Olam Agri IPO will be gone. 

yuhanooi      ( Date: 13-Sep-2023 11:20) Posted: Olam creates a lot of empolyment is Nigeria, I don' t think it is in the new government' s interest to kill it. Likely outcome is a fine on the FX transgressions ( there was complicated fx rules, before the 36% devaluation in June). Hope the legal team and negotiators get a lenient deal. Dyodd.

 

The Co should halt trading in its share and ascertain all the facts and disclose to the Exchange and to its shareholders.
Waiting to be informed by subsidiary through midnight call and disclose half an hour before trading commences, is not adequate even for a penny stock.

 

Auditors do what , any have endorse , how to believe auditors , 
Very dangerous , donot belive auditors simply and buy stocks.
some companies show this quater profit and next quater loss , all fraud 

mrwise      ( Date: 13-Sep-2023 11:18) Posted: No need to speculate... I believe this Company have a high chance of good n fast recovery...

 

The collateral damage u forget to mention, the 2 IPOs will be affected, at least much delayed liao.. share price will be capped for quite sometimes

yuhanooi      ( Date: 13-Sep-2023 11:20) Posted: Olam creates a lot of empolyment is Nigeria, I don' t think it is in the new government' s interest to kill it. Likely outcome is a fine on the FX transgressions ( there was complicated fx rules, before the 36% devaluation in June). Hope the legal team and negotiators get a lenient deal. Dyodd.

 

Olam creates a lot of empolyment is Nigeria, I don' t think it is in the new government' s interest to kill it. Likely outcome is a fine on the FX transgressions ( there was complicated fx rules, before the 36% devaluation in June). Hope the legal team and negotiators get a lenient deal. Dyodd.

 

No need to speculate...

I believe this Company have a high chance of good n fast recovery...


 

 

I think Temasek and others are looking onto this and should help the Company as they have huge investment on this Company...

 

 

guess we will know soon ba, only a few days since this erupted....the orthodox will need time to dig through this mess, in meantime unorthodox just spread fire lo....

luckyguy3      ( Date: 13-Sep-2023 10:53) Posted: The thing is the cash and assets over at Nigeria, whether still exists or not.. no one knows.. dot123      ( Date: 13-Sep-2023 10:51) Posted: In some countries, law is made up, if u dont comply, u are wrong, thats all, i believe the bond paid is more for the safety of said person they say pay, u pay....cannot argue one but yes, its a mess now, let it settle down first...

 

The thing is the cash and assets over at Nigeria, whether still exists or not.. no one knows..

dot123      ( Date: 13-Sep-2023 10:51) Posted: In some countries, law is made up, if u dont comply, u are wrong, thats all, i believe the bond paid is more for the safety of said person they say pay, u pay....cannot argue one but yes, its a mess now, let it settle down first...

 

The problem now is investors have lost confidence already. Few days old news only now then Olam confirmed the news, not very transparent.

What other skeletons that are still not yet known?

 

mrwise      ( Date: 13-Sep-2023 10:47) Posted: Few days old news and price may recover soon.... Higher mgt should be working on this....Any clarification will helps to boost the share price...   luckyguy3      ( Date: 13-Sep-2023 10:39) Posted: So Olam confirmed the news is real one.. not fake news... jialat lia

 

In some countries, law is made up, if u dont comply, u are wrong, thats all, i believe the bond paid is more for the safety of said person
they say pay, u pay....cannot argue one
but yes, its a mess now, let it settle down first...

 

Few days old news and price may recover soon....

Higher mgt should be working on this....Any clarification will helps to boost the share price...
 

luckyguy3      ( Date: 13-Sep-2023 10:39) Posted: So Olam confirmed the news is real one.. not fake news... jialat liao 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

 

So Olam confirmed the news is real one.. not fake news... jialat liao

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.