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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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  "pageNumber": 35,
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  "notes": "This page appears to be part of a larger investigative research report (Muddy Waters style).",
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      "text": "Olam restated certain 2008 figures in 2009... some of the figures that appear to be offsetting each other are coming from completely unrelated line items, and the changes leave S$64.5 million in unexplained adjustments to the COGS.",
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      "text": "1) Olam's balance sheet is largely impervious to frequent changes in financing, investing, and working capital items on the statement of cash flows. 2) Olam restated certain 2008 figures in 2009... 3) Office equipment in the FY2009AR appears to have been restated as Biological Assets... 4) Olam is including seeds given to farmers... 5) Numerous accounting entries that appear wrong...",
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