Silverlake issues review to rebut claims of wrongdoing
Review by independent consultant suggests no impropriety in related party deals highlighted by anonymous report
Singapore
STUNG some six months ago by an anonymous short-selling report that alleged wrongdoing in certain deals linked to its controlling shareholder, Silverlake Axis on Wednesday released a 55-page independent review that suggested no impropriety in the three such transactions.
But the report raised that one of three acquisitions, worth RM118 million (S$38 million), seemed larger than it should, and this addition has underperformed based on the transaction price.
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