Open Letter to SIC on Olam Takeover Bid by Temasek
http://www.tremeritus.com/2014/03/27/op ... y-temasek/
behappyalways wrote:Without the exceptional items, the profit for 3Q will be lower than previous 3Q. But one interesting to take note is their cash flow. Negative operating cashflow of $670m yet $3,750m short term debts.......Guess what would happen if there was no offer......
wasting our cpf.....
3Q2014
http://infopub.sgx.com/FileOpen/15May20 ... eID=297206
iam802 wrote:Didn't know that TH is in the business to rescue debt-laden companies.
The company’s leverage after issuing perpetual bonds in July is at 1.62 times net debt-to-equity on a pro-forma basis. That’s below its soft target of about 2 times.
With net debt of $9.8 billion as of June 30, that would leave the company with a theoretical debt headroom that could be used for everything from dividend payments to capital expenditure, as well as acquisitions.
The company came under attack from Muddy Waters LLC in 2012 over doubts about its finances.
Temasek Holdings, the state-owned Singaporean investment fund, took a controlling stake in March 2014 to fend off the short-seller.
The US-based firm, led by Carson Block, queried Olam’s ability to generate cash and the quality of African operations, causing its stock to plummet.
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