Olam Not Similar to Failed Enron, Says Ex-Temasek Director
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Olam International Ltd., the commodity trader likened to Enron Corp. by short-seller Muddy Waters LLC, bears no resemblance to the failed energy company, according to a former senior managing director at Temasek Holdings Pte.
“I completely reject that,” Michael Dee said today in an interview with Rishaad Salamat on Bloomberg Television. Olam is “a company that saw a tremendous business opportunity, to take an existing platform and grow it on the back of relatively inexpensive debt. And perhaps executed that a little bit too fast and too far.”