Olam

Olam: There has been much market talk yday on Temasek having raised its stake to 17% from 16.99% after acquiring 200k sh at $1.465/sh. Former Temasek senior MD Michael Dee highlighted that the "minuscule $293k investment by someone of Temasek's size and stature raises more questions than it answers" and questions "when is Olam going to take action itself to alter its strategy, and stop relying on Temasek's small efforts to distract from real issues of governance?". He added that, "Temasek's total invested assets are ~$200bn and their sh of the rights are only ~$150m... therefore, they are only risking 0.075% of their assets" and "investors should consider that Temasek economically is taking virtually no risk in a portfolio context". Overnight, Aranda Invmts, a Temasek unit, announced it entered into a series of transaction to purchase an aggregate 23.9m shares which resulted in Temasek’s deemed interest being boosted from 17% to 18%, of which the last transaction to purchase 1000 shares was the subject of notification. Olam shares closed up 4.4% yday at $1.54.