Olam takes Muddy Waters to court
Singapore commodities trader Olam International took its battle with short seller Muddy Waters to the courts yesterday as it fought off criticisms of its accounting practices and debt levels that have battered its share and bond prices. Olam, 16 per cent owned by Singapore state investor Temasek, has filed a suit against Muddy Waters and its founder Carson Block in the High Court of Singapore, alleging libel, slander or malicious falsehoods, a company spokeswoman said. She said Olam was seeking damages but gave no details. Reuters
Digital China to launch Sm@rt City projects
Digital China, the country’s largest integrated information-technology services provider, will launch next month the first two of its ambitious series of “Sm@rt City” projects on the mainland after posting an 11.9 per cent rise in net profit for the six months to September. Chairman Guo Wei said the company would initially deploy its advanced online platforms that would help run government operations and services at Fuzhou in Fujian and Foshan in Guangdong. Bien Perez
China Gas shares rally after profit forecast