Olam battles Muddy Waters accounting claim

SINGAPORE commodities trader Olam International yesterday defended its accounting practices after attacks by short-seller Muddy Waters. “We are dismayed at the nature and lack of substance of these assertions and opinions about Olam's financial position, particularly as we were not contacted in advance by Carson Block or anyone else from Muddy Waters," Olam, led by Sunny Verghese, said in a statement.