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  "documentTitle": "Olam International Ltd. (SGX:O32)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
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  "presentationDate": "2012-11-27 00:00:00",
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  "notes": "The slide serves as a forensic accounting critique of Olam's acquisition accounting practices.",
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      "text": "Olam marked up the assets acquired by a significant amount, which resulted in Olam booking a gain and boosting PAT.",
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      "text": "In most instances, the prior financials of companies acquired by Olam are not readily available. However, in some instances, they are. In the case of the tt Timber acquisition, Olam acquired an entity with publicly available financial data. We found that Olam marked up the assets acquired by a significant amount, which resulted in Olam booking a gain and boosting PAT. Because DLH is a public company, its filings, which contain information on tt Timber, are available online.",
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      "kind": "source-note",
      "text": "25 http://www.dlh.com/Investor.aspx",
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      "kind": "title",
      "text": "tt Timber Acquisition Illustrates how Olam Generates Negative Goodwill through Revaluation",
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