Muddy Waters

Short-seller's NQ Mobile report to 'hurt' IPOs of Chinese firms in US

Muddy Waters started coverage of NQ Mobile with a strong sell rating. Photo: SCMP Pictures

Short seller Muddy Waters' call to sell shares of Chinese mobile-security service provider NQ Mobile will hinder initial public offerings from the country, private investment banker Needham & Co says.

Saturday, 26 October, 2013, 2:37am

Accounting for flora and fauna gives Southeast Asia growing pains

A woman processes poultry at a Charoen Pokphand Foods (CPF) processing plant in Thailand. The company says new accounting standards are proving “a headache”. Photo: Reuters

Auditors and investors in Southeast Asia are pushing back against an accounting standard used to value farm animals, crops and other agricultural produce that they fear will make profits more volatile and raise the risk of corporate skulduggery.

11 Jul 2013 - 2:28pm

Short seller Carson Block targets Standard Chartered on loan risks

Carson Block

Block, who has in recent months targeted Singapore commodity trader Olam International, is turning his focus to Standard Chartered after Olam became more responsive to investors and won increased backing from Singapore sovereign wealth fund Temasek.

14 May 2013 - 3:32am

Carson Block reveals Muddy Waters' secret weapon: the SEC

Illustration: Emilio Rivera

Muddy Waters, whose analyst reports triggered US$7 billion in losses for mainland Chinese stocks, used an unlikely secret weapon for its research: the public website of the United States Securities and Exchange Commission.

21 Feb 2013 - 6:07am

Olam says banks raised no credit concerns in Temasek talks

Carson Block, research director of Los Angeles-based Muddy Waters, has raised concerns about the accounts of several Chinese companies trading in North America. Photo: Bloomberg

Olam International, the commodity trader that Muddy Waters LLC said is in danger of failing, said banks hired to help sell US$1.25 billion in bonds and warrants didn’t raise concerns about its credit position in discussions with shareholder Temasek Holdings.

5 Dec 2012 - 10:53am

Olam International's bond sale only 'delays collapse', says Carson Block

Carson Block

Olam International's planned US$1.25 billion raising will only postpone the likely collapse of the commodity trader, according to Muddy Waters, the research firm led by short-seller Carson Block.

5 Dec 2012 - 3:12am

Rice trader Olam International fights back over Muddy Waters' claims

Group Managing Director and Chief Executive Officer Sunny Verghese of Olam International Limited. Photo: Reuters

Olam International, whose shares have fallen 9.5 per cent since short seller Carson Block said it might fail, has sued him for defamation. He responded with a 133-page report that called the commodity trader an emperor with no clothes.

4 Dec 2012 - 3:10am

Short-selling eases as Block loses interest

Carson Block, founder of Muddy Waters. Photo: Bloomberg

Carson Block says it's become too difficult to short Chinese equities in the US as bets on stock declines drop by 50 per cent from a year ago.

29 Nov 2012 - 3:46am

Olam turns to courts in battle with Muddy Waters

Sunny Verghese, group managing director and chief executive of Olam International. Photo: AFP

Singapore commodities trader Olam International took its battle with short-seller Muddy Waters to a Singapore court on Wednesday as it fought off criticisms of its accounting practices and debt levels that have battered its share and bond prices.

22 Nov 2012 - 1:24pm

Accounting questions send shares of commodity trader Olam lower

Olam International slumped the most in six months in Singapore trading after short-seller Carson Block questioned the agricultural commodity trader's accounting methods.

The share fell 7.5 per cent to S$1.61 at the close, the lowest since May 16, while its bonds also fell in Asian trade.

21 Nov 2012 - 1:56am

Commodity trader Olam battles Muddy Waters accounting claims

Temasek Holdings, Singapore state-linked investment firm, owns 16 per cent in Olam International. (AFP PHOTO/ROSLAN RAHMAN)

Singapore commodities trader Olam International Ltd defended its accounting practices after attacks by short-seller Muddy Waters which media reports said questioned the way it keeps its books, sending its U.S.-listed shares tumbling.

20 Nov 2012 - 3:27pm

Mainland business chiefs slam Citron Research over 'lies'

A group of 61 Chinese entrepreneurs and executives have signed an open letter accusing Citron Research and other short-sellers of manipulating information and misleading investors in reports about Chinese companies.

5 Sep 2012 - 1:37am

Good news, fears put market at crossroads

The Hong Kong equities market got a boost on Thursday from the news that the Greek parliament had voted in an austerity package, which eased fears of a default in that country and an ensuing markets contagion.

4 Jul 2011 - 12:00am

Henry Chung and the HK Blues Allstars

HK Live!, Fringe Club July 7, 10pm

Hong Kong-born (and now based) Henry Chung discovered the blues on Eric Clapton's Unplugged album, which he heard at 15, when he was at school in the US.

21 Jun 2007 - 12:00am

Hearing is believing with vintage blues releases

Back in the 1930s, when jazz 78s were shipped within or from the US, blues discs were often packed around them to insulate them from damage. In some ways, not much has changed. Reissues of classic blues on CD have generally been treated much more casually than those of their jazz cousins.

It's a relief, therefore, to see that beginning to change.

2 Jul 2006 - 12:00am