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Currently a total of 275 research reports from 14 investment research firms has been aggregated, with new reports being added and updated constantly
Current Share Price:  
MuddyWaters
Initial Report Date(2012/11/24)Share Price:1.650  traded in SGX
Muddy Waters Reaction to Olam Frantic Response
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Please read the full text through the detail link.
By wantattse 
Subsequent Report (2012/11/26)Share Price:1.660  SGD
Initiating Coverage on Olam International – Strong Sell
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We value Olam on a liquidation basis because our opinion is that it is likely to fail. In the event of a liquidation, we estimate the present value of the debt to be 14 to 33 cents. In a liquidation, the equity would likely be wiped out, or given “nuisance value” at best.
By wantattse 
Subsequent Report (2012/11/29)Share Price:1.560  currency: SGD
Muddy Waters Offers to Pay for Olam Debt Rating
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Olam’s response to our November 27th report is remarkable in that, despite being 45 pages long, it fastidiously avoids addressing the vast majority of our points. The response is essentially a waste of toner, as much of it consists of canned presentation slides and consultant drivel. Where Olam’s response attempts to be substantive, it contains numerous instances of irrelevant information, factual inaccuracies, misleading statements, and mischaracterizations of our report. However, the response does demonstrate Olam’s continuing deluded denial of its fiscal problems. It seems the Titanic is still heading full steam toward the iceberg.
By wantattse 
Subsequent Report (2012/12/03)Share Price:1.570  SGD
Stop-Gap Bailout of Olam Validates MW’s Thesis
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Olam’s surprise announcement of an unusually structured US$750 million debt issuance validates our thesis that Olam is in danger of failing. Only in the case of our November 2010 report on Rino International have we had a faster confirmation of an investment thesis.
By wantattse 
Subsequent Report (2013/02/07)Share Price:1.630  SGD
Muddy Waters’s Reaction to Olam Q2 2013 Report
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Muddy Waters retains our original investment thesis and Strong Sell rating on Olam’s shares. Our analysis of Olam’s Q2 2013 results is detailed in our latest report.
By wantattse 
Subsequent Report (2013/09.01)Share Price:1.470  SGD
Olam: Not Changing the Old Ways
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We continue to believe that, in a world where capital is allocated to maximize economic efficiency, Olam’s shares have no value. The Company has simply borrowed too much money, and then invested in projects that will not generate sufficient returns to repay its debt obligations. In this note, we will only briefly comment on Olam’s FY 2013 results. (Numerous analysts have already done so.) Instead, we will focus on qualitative points that cause us to believe Olam is not really turning over a new leaf.
By wantattse 
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