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  "documentTitle": "Olam International Ltd. (SGX:O32)",
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  "authorName": "Carson Block",
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  "presentationDate": "2012-11-27 00:00:00",
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      "text": "The restatement makes no sense—for it to be correct, there must have been S$64.5 million in other unexplained increases within the cost of goods sold that were unrelated to the massive declines in derivatives and export incentives.",
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      "text": "Olam's treatment of the adjustment is much more concerning than the adjustments themselves. These issues raise questions over of how many restatements are made that are not discernible.",
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      "text": "Clearly the difference in the COGS line items between the original 2008 AR and the 2008 figures Annual Report is significantly greater than the S$14.3 million reported in Note 41.",
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      "text": "5. Cost of goods sold",
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