Olam Says It Has Enough Liquidity to Withstand Market Stress
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Olam International Ltd., whose accounting methods were questioned by Muddy Waters LLC founder Carson Block, said it has enough liquidity to withstand “stress” and its auditor stands by its opinion on the company’s accounts.
Olam, the world’s second-largest rice trader, “is in a sound financial position,” the Singapore-based commodities trader said today in a statement. “The company has sufficient liquidity in place to meet its financial obligations and those that might arise from stress in the capital markets.”