Its continuation for
Singapore shares, that were down. Bailout plan that report that
Cyprus fell into disarray, but Olam LTD grow up to 4th month high.
The Straits Times Index
was below 0.2 % at 3,261.38 . while 0.3 % gained by MSCI's broadest
index.
The highest fall of more
then 1% notice on Singapore Press Holdings and Singapore
Telecommunications Ltd .
For Olam, it rise up 2.6
% to S$1.76 with 13 million shares traded. It had grown up as much
as 22 percent after Muddy Waters criticised its accounting practices,
high debt levels & investment projects in late November.
Beside this Market
balanced up after SGX state investor Temasek Holdings supported
Olam's rights issue and raised its stake to become the company's
biggest shareholder.
In last month, Olam
notice a 20% up in 2nd Quarter net profit & informed that it iwl
recheck its business priorities and free cash flow targets. The next
announcement will come on 2nd half of April.
"The strategic
review has partly boosted investors' confidence, but investors are
adopting a wait-and-see attitude towards Olam to see if it can
generate enough cashflow from the investments," a trader said.
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